Ellsworth Advisors LLC Makes New $5.39 Million Investment in The PNC Financial Services Group, Inc $PNC

Key Points

• Ellsworth Advisors LLC invested approximately $5.39 million in The PNC Financial Services Group, acquiring 30,656 shares, which constitutes 1.4% of their portfolio.
• Multiple institutional investors have recently adjusted their stakes in PNC, including Massachusetts Financial Services Co., which increased its holdings by 26.1%, and GAMMA Investing LLC, which raised its position by an astonishing 19,279.5%.
• The PNC Financial Services Group recently announced a quarterly dividend of $1.70 per share, marking a positive increase from the previous dividend of $1.60, with a current dividend yield of 3.4%.

Ellsworth Advisors LLC bought a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 30,656 shares of the financial services provider's stock, valued at approximately $5,388,000. The PNC Financial Services Group makes up 1.4% of Ellsworth Advisors LLC's portfolio, making the stock its 21st largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PNC. Massachusetts Financial Services Co. MA grew its holdings in The PNC Financial Services Group by 26.1% during the 1st 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 acquiring an additional 1,964,157 shares in the last quarter. Nuveen LLC purchased a new stake in shares of The PNC Financial Services Group during the first quarter valued at about $306,905,000. GAMMA Investing LLC raised its position in shares of The PNC Financial Services Group by 19,279.5% in the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock valued at $201,961,000 after purchasing an additional 1,143,079 shares during the last quarter. Amundi raised its position in shares of The PNC Financial Services Group by 76.1% in the 1st quarter. Amundi now owns 2,186,073 shares of the financial services provider's stock valued at $352,592,000 after purchasing an additional 944,731 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of The PNC Financial Services Group by 187.3% in the 1st quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider's stock valued at $245,055,000 after purchasing an additional 926,709 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on PNC. The Goldman Sachs Group increased their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. TD Cowen began coverage on shares of The PNC Financial Services Group in a research report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. Truist Financial increased their price objective on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a research report on Wednesday, July 9th. Piper Sandler increased their price target 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. Finally, Wall Street Zen upgraded shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One investment 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 data from MarketBeat, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus price target of $213.67.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $201.89 on Thursday. The stock has a market capitalization of $79.51 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.48 and a beta of 1.11. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The firm's 50 day simple moving average is $196.59 and its 200-day simple moving average is $180.30. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The business had revenue of $3.01 billion for 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 business's revenue was up 4.6% on a year-over-year basis. During the same quarter last 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. Analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current 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 paid a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend 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 dividend payout ratio is 46.51%.

The PNC Financial Services Group Company 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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