The PNC Financial Services Group, Inc $PNC Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. significantly increased its position in The PNC Financial Services Group by 247.6%, acquiring an additional 99,801 shares, bringing its total holdings to 140,110 shares valued at approximately $24.6 million.
• The company recently announced a quarterly dividend increase from $1.60 to $1.70 per share, representing an annualized yield of 3.3%.
• Wall Street analysts have given The PNC Financial Services Group an average rating of "Moderate Buy", with price targets ranging from $178 to $226.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 247.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,110 shares of the financial services provider's stock after purchasing an additional 99,801 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in The PNC Financial Services Group were worth $24,627,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PNC. Vanguard Group Inc. increased its position in shares of The PNC Financial Services Group by 0.7% in the first quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock valued at $6,673,217,000 after buying an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in The PNC Financial Services Group by 26.1% during 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 acquiring an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. raised its position in 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 worth $844,967,000 after acquiring an additional 24,588 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of The PNC Financial Services Group by 4.8% in 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 purchasing an additional 186,249 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of The PNC Financial Services Group by 5.3% in 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 purchasing an additional 179,760 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Up 0.7%

Shares of PNC traded up $1.48 during mid-day trading on Wednesday, reaching $201.89. The company had a trading volume of 1,290,572 shares, compared to its average volume of 1,525,667. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The firm has a fifty day simple moving average of $196.59 and a 200-day simple moving average of $180.30. The stock has a market cap of $79.51 billion, a price-to-earnings ratio of 13.81, a price-to-earnings-growth ratio of 1.48 and a beta of 1.11. 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 PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.29. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.4%. 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 (DPR) is 46.51%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PNC. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and lifted their price objective for the stock from $185.00 to $212.00 in a research report on Wednesday, July 9th. Truist Financial boosted their price target on The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a report on Wednesday, July 9th. Oppenheimer upgraded 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. Bank of America boosted their price objective on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.67.

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.