Gabelli Funds LLC Sells 12,431 Shares of The PNC Financial Services Group, Inc $PNC

Key Points

• Gabelli Funds LLC reduced its stake in The PNC Financial Services Group by 5.4%, selling 12,431 shares, bringing its total ownership to approximately 217,350 shares worth about $38.2 million.
• The PNC Financial Services Group recently increased its quarterly dividend from $1.60 to $1.70, representing a 3.4% yield based on an annualized payout of $6.80.
• Equities analysts are generally optimistic, with multiple upgrades, including a price target increase from Citigroup from $205 to $217 and a rating change from "underperform" to "market perform" by Keefe, Bruyette & Woods.

Gabelli Funds LLC trimmed its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 217,350 shares of the financial services provider's stock after selling 12,431 shares during the quarter. Gabelli Funds LLC owned about 0.05% of The PNC Financial Services Group worth $38,204,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC boosted its stake in The PNC Financial Services Group by 50.8% in 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 acquired a new position in The PNC Financial Services Group during the first quarter worth approximately $35,000. REAP Financial Group LLC grew its position in 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 during the period. True Wealth Design LLC lifted its stake in shares of The PNC Financial Services Group by 41.5% in the fourth quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after acquiring an additional 59 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC traded up $2.09 during trading on Friday, hitting $207.71. 2,045,627 shares of the company were exchanged, compared to its average volume of 2,304,704. The stock has a 50 day moving average of $193.10 and a 200 day moving average of $179.64. 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 company has a market cap of $81.80 billion, a PE ratio of 14.21, a P/E/G ratio of 1.53 and a beta of 1.09. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its 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 business 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 PNC Financial Services Group's revenue was up 4.6% on a year-over-year basis. During the same quarter 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. As a group, equities research analysts predict 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 declared a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend 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 dividend payout ratio is currently 46.51%.

Wall Street Analysts Forecast Growth

PNC has been the subject of a number of research reports. Morgan Stanley increased their price target on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. Oppenheimer raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price target on the stock in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Finally, The Goldman Sachs Group upped 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 report on Wednesday, July 2nd. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $214.17.

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.