Intech Investment Management LLC Raises Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Intech Investment Management LLC increased its stake in The PNC Financial Services Group by 83.6%, acquiring 23,346 shares valued at approximately $4.1 million during the 1st quarter.
• The PNC Financial Services Group reported a Q2 EPS of $3.85, exceeding estimates and reflecting a 4.6% year-over-year revenue growth despite lower revenue compared to consensus expectations.
• The company recently increased its quarterly dividend to $1.70 per share, marking a rise from the previous dividend of $1.60, with a current dividend yield of 3.4%.

Intech Investment Management LLC lifted its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 83.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 23,346 shares of the financial services provider's stock after acquiring an additional 10,632 shares during the quarter. Intech Investment Management LLC's holdings in The PNC Financial Services Group were worth $4,104,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake 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 buying an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of The PNC Financial Services Group by 26.1% in the 1st 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. grew its position in shares of The PNC Financial Services Group by 0.5% in the 1st 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 grew its position in shares of The PNC Financial Services Group by 4.8% in the 1st 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 stake in shares of The PNC Financial Services Group by 5.3% in the 4th quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider's stock worth $689,084,000 after acquiring an additional 179,760 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC traded up $0.72 during midday trading on Monday, hitting $202.70. The company had a trading volume of 1,464,299 shares, compared to its average volume of 1,509,861. 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 PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The business has a 50-day simple moving average of $197.01 and a two-hundred day simple moving average of $180.50. The firm has a market capitalization of $79.82 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.49 and a beta of 1.11.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The firm had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $5.61 billion. During the same quarter last year, the business earned $3.39 earnings per share. The business's revenue for the quarter 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. Equities research 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 announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were issued a dividend of $1.70 per share. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.4%. The PNC Financial Services Group's payout ratio is 46.51%.

Analysts Set New Price Targets

Several research firms have recently commented on PNC. Bank of America raised their target price on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Wolfe Research restated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Truist Financial raised their target price on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. 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. Finally, Citigroup raised their target price 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. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.67.

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.