The PNC Financial Services Group, Inc $PNC Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has increased its stake in The PNC Financial Services Group by 41.8%, now owning about 0.71% of the company valued at approximately $495 million.
• The PNC Financial Services Group has raised its quarterly dividend from $1.60 to $1.70, representing an annualized dividend yield of 3.3%.
• Analysts have set a consensus target price of $214.17 for PNC shares, with ratings ranging from "Sell" to "Strong Buy" from different brokerages.

Goldman Sachs Group Inc. boosted its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 41.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,818,090 shares of the financial services provider's stock after acquiring an additional 830,440 shares during the period. Goldman Sachs Group Inc. owned about 0.71% of The PNC Financial Services Group worth $495,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in The PNC Financial Services Group by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock worth $6,673,217,000 after acquiring an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of The PNC Financial Services Group by 26.1% during 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. Ameriprise Financial Inc. lifted its position in shares of The PNC Financial Services Group by 0.5% during the first quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock valued at $844,967,000 after buying an additional 24,588 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of The PNC Financial Services Group by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider's stock valued at $713,063,000 after buying an additional 186,249 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of The PNC Financial Services Group by 5.3% during the fourth quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider's stock valued at $689,084,000 after buying an additional 179,760 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stephens reissued an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and increased their price objective for the company from $185.00 to $212.00 in a research report on Wednesday, July 9th. 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 report on Wednesday, July 30th. Finally, Piper Sandler increased their price objective on shares of The PNC Financial Services Group from $200.00 to $211.00 and gave the company a "neutral" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and an average target price of $213.67.

The PNC Financial Services Group Stock Performance

PNC traded down $0.60 during trading on Friday, reaching $202.15. 1,015,305 shares of the company's stock were exchanged, compared to its average volume of 1,524,116. The PNC Financial Services Group, Inc has a 1 year low of $145.12 and a 1 year high of $216.26. 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 stock has a market capitalization of $79.61 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. The company's fifty day simple moving average is $196.88 and its 200-day simple moving average is $180.52.

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. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal 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 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.