DRW Securities LLC Increases Stock Position in The PNC Financial Services Group, Inc $PNC

Key Points

• DRW Securities LLC increased its stake in The PNC Financial Services Group by 80.9%, owning 17,522 shares worth approximately $3.08 million.
• The company declared a quarterly dividend of $1.70, up from $1.60, representing a 3.3% dividend yield with a payout ratio of 46.51%.
• Analysts have rated The PNC Financial Services Group a "Moderate Buy" with an average price target of $214.17, as several firms raised their ratings on the stock recently.

DRW Securities LLC raised its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 80.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,522 shares of the financial services provider's stock after purchasing an additional 7,838 shares during the period. DRW Securities LLC's holdings in The PNC Financial Services Group were worth $3,080,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its position in shares of 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 valued at $1,670,249,000 after buying an additional 1,964,157 shares during the last quarter. Nuveen LLC purchased a new stake in The PNC Financial Services Group in the 1st quarter worth approximately $306,905,000. Leigh Baldwin & CO. LLC acquired a new position in The PNC Financial Services Group in the 4th quarter valued at $299,864,000. GAMMA Investing LLC lifted its stake in shares of The PNC Financial Services Group by 19,279.5% during the 1st 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 period. Finally, Goldman Sachs Group Inc. boosted 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 hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on PNC. 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 research note on Thursday, July 17th. Raymond James Financial raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research note on Tuesday, July 8th. TD Cowen began coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They set a "buy" rating and a $233.00 price objective on the stock. Citigroup increased their price target on shares of 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, Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price objective for the company in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.17.

The PNC Financial Services Group Trading Down 1.0%

Shares of PNC stock traded down $2.03 during mid-day trading on Tuesday, reaching $205.41. The company's stock had a trading volume of 1,646,781 shares, compared to its average volume of 1,465,881. 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 firm has a market capitalization of $80.89 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11. The company's 50 day simple moving average is $194.71 and its 200-day simple moving average is $179.76. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly 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 firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same period in the prior year, the firm earned $3.39 EPS. 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. On average, research analysts predict 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 business also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date 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 dividend payout ratio (DPR) is 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.