Aberdeen Group plc Grows Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• Aberdeen Group plc increased its holdings in The PNC Financial Services Group by 8.8%, purchasing an additional 27,026 shares and now owning approximately 0.08% of the company, valued at $62.5 million.
• Several institutional investors, including Massachusetts Financial Services and Goldman Sachs, have significantly increased their stakes, contributing to a total institutional ownership of 83.53% of PNC's stock.
• Recent research upgrades have improved PNC's rating from "underperform" to "market perform", with price targets raised by various firms, highlighting a consensus target price of $218.21.

Aberdeen Group plc grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 8.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 333,758 shares of the financial services provider's stock after purchasing an additional 27,026 shares during the period. Aberdeen Group plc owned about 0.08% of The PNC Financial Services Group worth $62,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNC. Massachusetts Financial Services Co. MA increased its stake in The PNC Financial Services Group by 26.1% in the first 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 during the period. Nuveen LLC purchased a new stake in The PNC Financial Services Group in the first quarter worth $306,905,000. Amundi increased its stake in The PNC Financial Services Group by 76.1% in the first quarter. Amundi now owns 2,186,073 shares of the financial services provider's stock worth $352,592,000 after purchasing an additional 944,731 shares during the period. AQR Capital Management LLC increased its stake in shares of The PNC Financial Services Group by 187.3% during 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 buying an additional 926,709 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of The PNC Financial Services Group by 41.8% in the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock valued at $495,336,000 after acquiring an additional 830,440 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PNC. Keefe, Bruyette & Woods upgraded 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 report on Wednesday, July 9th. Bank of America lifted their price objective on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Evercore ISI lifted their price objective on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an "outperform" rating in a report on Tuesday, September 30th. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, UBS Group lifted their price objective on The PNC Financial Services Group from $224.00 to $229.00 and gave the company a "buy" rating in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $218.21.

The PNC Financial Services Group Price Performance

PNC opened at $183.72 on Friday. The business's 50-day moving average is $198.64 and its two-hundred day moving average is $183.56. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. 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 firm has a market capitalization of $72.35 billion, a PE ratio of 12.57, a price-to-earnings-growth ratio of 1.36 and a beta of 1.10.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same quarter in the previous year, the firm earned $3.39 earnings per share. The firm's quarterly revenue 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. Research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be paid 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 dividend yield of 3.7%. The PNC Financial Services Group's payout ratio is presently 46.51%.

The PNC Financial Services Group Company Profile

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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