Canada Pension Plan Investment Board Lowers Position in The PNC Financial Services Group, Inc $PNC

Key Points

• The Canada Pension Plan Investment Board has sold 58,540 shares of The PNC Financial Services Group, reducing its stake by 11.9% to 431,788 shares.
• Analysts have varied ratings for PNC, with TD Cowen issuing a "buy" rating and a price target of $233.00, while Goldman Sachs and Morgan Stanley have increased their price targets as well.
• The PNC Financial Services Group recently increased its quarterly dividend from $1.60 to $1.70 per share, representing an annual yield of 3.3%.

Canada Pension Plan Investment Board reduced its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 431,788 shares of the financial services provider's stock after selling 58,540 shares during the period. Canada Pension Plan Investment Board owned about 0.11% of The PNC Financial Services Group worth $75,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PNC. Massachusetts Financial Services Co. MA grew its holdings in shares of The PNC Financial Services Group by 26.1% during 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 last quarter. Nuveen LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter worth about $306,905,000. Leigh Baldwin & CO. LLC bought a new stake in shares of The PNC Financial Services Group during the fourth quarter worth about $299,864,000. GAMMA Investing LLC grew its holdings in shares of The PNC Financial Services Group by 19,279.5% during the first quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock worth $201,961,000 after purchasing an additional 1,143,079 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of The PNC Financial Services Group by 41.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock worth $495,336,000 after purchasing an additional 830,440 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PNC. Citigroup boosted their price target on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. 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 company from $185.00 to $212.00 in a report on Wednesday, July 9th. Raymond James Financial upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a report on Tuesday, July 8th. 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, Bank of America upped their target price 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. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of "Moderate Buy" and an average price target of $214.17.

The PNC Financial Services Group Stock Up 1.1%

NYSE PNC traded up $2.28 on Thursday, reaching $207.28. The company had a trading volume of 1,203,293 shares, compared to its average volume of 1,497,976. The stock has a market capitalization of $81.63 billion, a P/E ratio of 14.18, a P/E/G ratio of 1.51 and a beta of 1.11. The company's fifty day moving average is $195.59 and its 200 day moving average is $180.03. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The business had revenue of $3.01 billion during 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 PNC Financial Services Group's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Sell-side 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 Increases Dividend

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