The PNC Financial Services Group, Inc $PNC Shares Sold by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. has reduced its stake in The PNC Financial Services Group by 1.2%, owning 215,100 shares valued at approximately $35 million after selling 2,700 shares.
• The PNC Financial Services Group's latest earnings report revealed an EPS of $3.85, exceeding estimates, with revenue of $3.01 billion, marking a 4.6% year-over-year increase.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for PNC stock, with a projected average target price of $214.17, suggesting optimistic growth prospects.

APG Asset Management N.V. lessened its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 215,100 shares of the financial services provider's stock after selling 2,700 shares during the period. APG Asset Management N.V. owned about 0.05% of The PNC Financial Services Group worth $35,001,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its holdings in The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after buying an additional 65 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in The PNC Financial Services Group in the first quarter valued at $35,000. REAP Financial Group LLC increased its holdings in The PNC Financial Services Group by 67.2% in the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after buying an additional 80 shares during the last quarter. True Wealth Design LLC increased its holdings in The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after buying an additional 59 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of The PNC Financial Services Group during the first quarter worth about $41,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup lifted their target price on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and lifted their target price for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. Morgan Stanley lifted their target price on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday, July 17th. Bank of America lifted their target price on shares of 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. Finally, Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One 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 given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $214.17.

The PNC Financial Services Group Stock Performance

Shares of PNC traded down $0.32 during mid-day trading on Thursday, hitting $205.72. 1,924,677 shares of the company's stock were exchanged, compared to its average volume of 2,306,025. The firm has a market capitalization of $81.02 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.51 and a beta of 1.09. 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's 50 day moving average is $192.49 and its two-hundred day moving average is $179.59. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion during 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 firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior 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. On average, equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were given a dividend of $1.70 per share. 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. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's payout ratio is 46.51%.

The PNC Financial Services Group 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.