Morningstar Investment Management LLC Purchases Shares of 3,567 The PNC Financial Services Group, Inc $PNC

Key Points

• Morningstar Investment Management LLC purchased 3,567 shares of The PNC Financial Services Group, valued at approximately $665,000, during the second quarter.
• Analysts have raised their price targets for PNC, with Wells Fargo and Citigroup increasing theirs to $240.00 and $230.00, respectively, reflecting a consensus rating of "Moderate Buy".
• The PNC Financial Services Group announced a quarterly dividend of $1.70, which will be paid on November 5th, reflecting a 3.6% dividend yield.

Morningstar Investment Management LLC purchased a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,567 shares of the financial services provider's stock, valued at approximately $665,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ignite Planners LLC raised its stake in The PNC Financial Services Group by 8.4% in the first quarter. Ignite Planners LLC now owns 1,628 shares of the financial services provider's stock valued at $262,000 after buying an additional 126 shares during the last quarter. Exane Asset Management lifted its position in The PNC Financial Services Group by 32.9% during the 1st quarter. Exane Asset Management now owns 149,783 shares of the financial services provider's stock worth $28,434,000 after acquiring an additional 37,110 shares during the period. Smith Salley Wealth Management lifted its position in The PNC Financial Services Group by 15.6% during the 1st quarter. Smith Salley Wealth Management now owns 72,844 shares of the financial services provider's stock worth $12,804,000 after acquiring an additional 9,836 shares during the period. United Community Bank lifted its position in The PNC Financial Services Group by 687.0% during the 1st quarter. United Community Bank now owns 12,325 shares of the financial services provider's stock worth $2,166,000 after acquiring an additional 10,759 shares during the period. Finally, Kingswood Wealth Advisors LLC lifted its position in The PNC Financial Services Group by 4.5% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 2,802 shares of the financial services provider's stock worth $493,000 after acquiring an additional 120 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PNC has been the subject of a number of research reports. Truist Financial lifted their price target on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a "hold" rating in a research report on Wednesday, September 24th. Oppenheimer lowered their price target on The PNC Financial Services Group from $238.00 to $235.00 and set an "outperform" rating for the company in a research report on Tuesday, September 23rd. Wells Fargo & Company lifted their price target on The PNC Financial Services Group from $230.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, October 3rd. Bank of America lifted their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Citigroup lifted their price target on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a "buy" rating in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $218.21.

The PNC Financial Services Group Stock Performance

Shares of PNC stock opened at $187.13 on Tuesday. The stock has a market cap of $73.69 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 1.28 and a beta of 1.10. The business has a 50-day simple moving average of $198.60 and a 200-day simple moving average of $183.73. 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 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 issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.29. The business had revenue of $3.01 billion during 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 company's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous 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. On average, equities analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be issued a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, October 14th. The PNC Financial Services Group's 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.

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