PharVision Advisers LLC Makes New Investment in The PNC Financial Services Group, Inc $PNC

Key Points

• PharVision Advisers LLC purchased 2,596 shares of The PNC Financial Services Group, valued at about $456,000, which represents 0.6% of its portfolio.
• The PNC Financial Services Group reported earnings of $3.85 per share for the last quarter, exceeding estimates and reflecting a 4.6% year-over-year revenue increase.
• The company announced a quarterly dividend increase from $1.60 to $1.70, resulting in an annualized dividend of $6.80 and a yield of 3.3%.

PharVision Advisers LLC purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,596 shares of the financial services provider's stock, valued at approximately $456,000. The PNC Financial Services Group comprises approximately 0.6% of PharVision Advisers LLC's investment portfolio, making the stock its 20th largest holding.

Several other hedge funds have also modified their holdings of the stock. New England Asset Management Inc. boosted its position in shares of The PNC Financial Services Group by 0.6% in the first quarter. New England Asset Management Inc. now owns 21,200 shares of the financial services provider's stock worth $3,726,000 after acquiring an additional 135 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of The PNC Financial Services Group by 1.1% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 48,367 shares of the financial services provider's stock worth $8,501,000 after acquiring an additional 515 shares during the last quarter. Nearwater Capital Markets Ltd acquired a new stake in shares of The PNC Financial Services Group in the first quarter worth approximately $13,183,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of The PNC Financial Services Group by 247.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 140,110 shares of the financial services provider's stock worth $24,627,000 after acquiring an additional 99,801 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its position in shares of The PNC Financial Services Group by 2.7% in the first quarter. Integrated Wealth Concepts LLC now owns 7,355 shares of the financial services provider's stock worth $1,293,000 after acquiring an additional 196 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PNC shares. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 target price on the stock in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods raised The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and lifted their price objective for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. The Goldman Sachs Group lifted their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $214.17.

The PNC Financial Services Group Trading Down 0.3%

PNC stock traded down $0.69 during midday trading on Monday, reaching $203.71. 1,772,793 shares of the company's stock traded hands, compared to its average volume of 1,506,757. The company has a market capitalization of $80.22 billion, a P/E ratio of 13.93, a PEG ratio of 1.51 and a beta of 1.11. 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 PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The business has a 50-day moving average price of $196.30 and a two-hundred day moving average price of $180.01.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The firm had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The PNC Financial Services Group's revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were paid a dividend of $1.70 per share. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, July 15th. The PNC Financial Services Group's payout ratio 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.