DAVENPORT & Co LLC Has $7.86 Million Stock Position in The PNC Financial Services Group, Inc $PNC

DAVENPORT & Co LLC increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 24.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,140 shares of the financial services provider's stock after purchasing an additional 8,399 shares during the quarter. DAVENPORT & Co LLC's holdings in The PNC Financial Services Group were worth $7,856,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PNC. Saudi Central Bank bought a new stake in The PNC Financial Services Group during the 1st quarter worth about $27,000. Cornerstone Planning Group LLC grew 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 acquiring an additional 65 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in The PNC Financial Services Group during the 1st quarter worth about $35,000. WPG Advisers LLC bought a new stake in The PNC Financial Services Group during the 1st quarter worth about $36,000. Finally, Fourth Dimension Wealth LLC bought a new stake in The PNC Financial Services Group during the 1st quarter worth about $41,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PNC shares. Raymond James Financial increased their price objective on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday, September 19th. Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $200.00 to $211.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a "hold" rating in a report on Wednesday, September 24th. 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. Finally, The Goldman Sachs Group raised their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and a consensus target price of $217.74.

The PNC Financial Services Group Stock Down 0.8%

Shares of NYSE PNC opened at $193.98 on Wednesday. The firm has a market capitalization of $76.39 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10. 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, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. The firm's 50-day moving average is $198.71 and its 200-day moving average is $183.33.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued 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 company had revenue of $3.01 billion for the quarter, compared to analyst estimates 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 company's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 annualized dividend and a yield of 3.5%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 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.

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