AQR Capital Management LLC Buys 926,709 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• AQR Capital Management LLC increased its holdings in The PNC Financial Services Group by 187.3%, acquiring 926,709 shares in the first quarter to reach a total of 1,421,434 shares valued at $245.05 million.
• The PNC Financial Services Group reported a quarterly earnings of $3.85 EPS, exceeding analysts' expectations of $3.56, while its revenue grew by 4.6% year-over-year.
• The company recently announced a dividend increase to $1.70 per share, up from $1.60, resulting in an annualized dividend yield of 3.3%.

AQR Capital Management LLC grew its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 187.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,421,434 shares of the financial services provider's stock after buying an additional 926,709 shares during the period. AQR Capital Management LLC owned 0.36% of The PNC Financial Services Group worth $245,055,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PNC. Saudi Central Bank purchased a new stake in The PNC Financial Services Group during the 1st quarter worth about $27,000. Cornerstone Planning Group LLC lifted its holdings in The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after purchasing an additional 65 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in The PNC Financial Services Group during the 1st quarter worth about $35,000. WPG Advisers LLC purchased a new stake in The PNC Financial Services Group during the 1st quarter worth about $36,000. Finally, REAP Financial Group LLC lifted its holdings in The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Price Performance

Shares of The PNC Financial Services Group stock traded down $2.85 during trading on Friday, hitting $204.51. 1,272,975 shares of the stock traded hands, compared to its average volume of 1,494,110. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.99. The stock has a market cap of $80.54 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.51 and a beta of 1.11. The firm's fifty day moving average is $195.96 and its 200-day moving average is $179.98. The PNC Financial Services Group, Inc has a 52 week low of $145.12 and a 52 week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The company's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts expect 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 given a dividend of $1.70 per share. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The PNC Financial Services Group's dividend payout ratio is currently 46.51%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Truist Financial increased their price objective on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and upped their target price for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Citigroup upped 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 note on Thursday, July 17th. Finally, Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $214.17.

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.