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Robeco Institutional Asset Management B.V. decreased its stake in The PNC Financial Services Group, Inc (NYSE:PNC – Free Report) by 47.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,371 shares of the financial services provider’s stock after selling 28,168 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in The PNC Financial Services Group were worth $5,848,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of PNC. Massachusetts Financial Services Co. MA increased its position in shares of The PNC Financial Services Group by 26.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider’s stock worth $1,670,249,000 after purchasing an additional 1,964,157 shares in the last quarter. Nuveen LLC acquired a new stake in shares of The PNC Financial Services Group during the first quarter worth approximately $306,905,000. Amundi increased its holdings in shares of The PNC Financial Services Group by 76.1% during the first quarter. Amundi now owns 2,186,073 shares of the financial services provider’s stock worth $352,592,000 after buying an additional 944,731 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of The PNC Financial Services Group by 187.3% in the first quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider’s stock valued at $245,055,000 after acquiring an additional 926,709 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of The PNC Financial Services Group by 41.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock worth $495,336,000 after acquiring an additional 830,440 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PNC has been the subject of several research analyst reports. Oppenheimer cut their price objective on The PNC Financial Services Group from $238.00 to $235.00 and set an “outperform” rating for the company in a research report on Tuesday, September 23rd. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. Evercore ISI increased their price objective on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th. Truist Financial boosted their target price on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research note on Wednesday, September 24th. Finally, Bank of America upped their target price on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $217.11.
Check Out Our Latest Analysis on The PNC Financial Services Group
The PNC Financial Services Group Trading Up 0.2%
Shares of NYSE PNC opened at $198.54 on Monday. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The firm has a market capitalization of $78.19 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.46 and a beta of 1.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The company’s 50 day simple moving average is $198.66 and its 200 day simple moving average is $183.09.
The PNC Financial Services Group (NYSE:PNC – Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $5.61 billion. During the same quarter in the previous year, the company posted $3.39 EPS. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.
The PNC Financial Services Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be issued a dividend of $1.70 per share. The ex-dividend date is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio (DPR) is 46.51%.
About The PNC Financial Services Group
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company’s Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.
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