The PNC Financial Services Group, Inc $PNC Shares Sold by First Manhattan CO. LLC.

Key Points

• First Manhattan Co. LLC has reduced its stake in The PNC Financial Services Group by 5.1%, holding 51,078 shares valued at approximately $8.98 million.
• Several institutional investors have increased their holdings in PNC, with Massachusetts Financial Services Co. increasing their position by 26.1% to over 9.5 million shares valued at nearly $1.67 billion.
• The PNC Financial Services Group recently raised its quarterly dividend from $1.60 to $1.70 per share, representing a yield of 3.3% and an annual payout of $6.80.

First Manhattan CO. LLC. lessened its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 5.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,078 shares of the financial services provider's stock after selling 2,736 shares during the period. First Manhattan CO. LLC.'s holdings in The PNC Financial Services Group were worth $8,978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PNC. Saudi Central Bank bought a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $27,000. Cornerstone Planning Group LLC raised its stake in shares of The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 65 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $35,000. WPG Advisers LLC bought a new stake in shares of The PNC Financial Services Group during the first quarter valued at approximately $36,000. Finally, REAP Financial Group LLC raised its stake in shares of The PNC Financial Services Group by 67.2% during the fourth quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price target for the company in a research note on Wednesday, July 30th. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and boosted their price objective for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. Finally, TD Cowen started coverage on shares of The PNC Financial Services Group in a research note on Thursday, May 15th. They issued a "buy" rating and a $233.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and a consensus price target of $214.17.

The PNC Financial Services Group Stock Down 1.4%

Shares of PNC traded down $2.85 during midday trading on Friday, hitting $204.51. 1,272,975 shares of the company's stock traded hands, compared to its average volume of 1,494,110. 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 fifty day moving average is $195.96 and its 200-day moving average is $180.08. 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 stock has a market capitalization of $80.54 billion, a price-to-earnings ratio of 13.99, a price-to-earnings-growth ratio of 1.53 and a beta of 1.11.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same quarter in the previous year, the firm earned $3.39 earnings per share. The company's revenue was up 4.6% on a year-over-year basis. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared 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. The ex-dividend date was Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. The PNC Financial Services Group's payout ratio is presently 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.