MetLife Investment Management LLC Decreases Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• MetLife Investment Management LLC has reduced its stake in The PNC Financial Services Group by 2.1%, now holding shares valued at approximately $18.08 million.
• The PNC Financial Services Group recently saw several large investors increase their positions, with institutional ownership at 83.53%.
• The company has raised its quarterly dividend from $1.60 to $1.70 per share, with an annualized yield of 3.4%.

MetLife Investment Management LLC lessened its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 2.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 102,857 shares of the financial services provider's stock after selling 2,168 shares during the quarter. MetLife Investment Management LLC's holdings in The PNC Financial Services Group were worth $18,079,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PNC. True Wealth Design LLC boosted its holdings in shares of The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after buying an additional 59 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after buying an additional 65 shares in the last quarter. WealthPLAN Partners LLC boosted its holdings in shares of The PNC Financial Services Group by 0.5% during the 1st quarter. WealthPLAN Partners LLC now owns 12,629 shares of the financial services provider's stock worth $2,220,000 after buying an additional 66 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of The PNC Financial Services Group by 13.8% during the 1st quarter. Y.D. More Investments Ltd now owns 559 shares of the financial services provider's stock worth $98,000 after buying an additional 68 shares in the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of The PNC Financial Services Group by 2.2% during the 1st quarter. Spire Wealth Management now owns 3,257 shares of the financial services provider's stock worth $573,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PNC shares. Morgan Stanley increased their price target on The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. Citigroup increased their price target on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Raymond James Financial upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price target on the stock in a report on Tuesday, July 8th. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Finally, Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, The PNC Financial Services Group presently has a consensus rating of "Moderate Buy" and an average target price of $214.17.

The PNC Financial Services Group Stock Up 1.0%

Shares of PNC traded up $2.09 during trading hours on Friday, reaching $207.71. The stock had a trading volume of 2,045,627 shares, compared to its average volume of 1,574,998. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26. The firm has a 50-day simple moving average of $193.71 and a 200 day simple moving average of $179.59. 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 company has a market capitalization of $81.80 billion, a price-to-earnings ratio of 14.21, a P/E/G ratio of 1.53 and a beta of 1.09.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The company had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The PNC Financial Services Group's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were given a dividend of $1.70 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's 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.