Public Employees Retirement System of Ohio Has $30.27 Million Holdings in The PNC Financial Services Group, Inc $PNC

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in PNC Financial Services by 1.5% in Q2, holding shares worth $30.27 million after selling 2,389 shares.
• PNC's latest quarterly earnings showed an EPS of $3.85, surpassing analyst estimates, with a 4.6% increase in revenue year-over-year.
• The company recently increased its quarterly dividend from $1.60 to $1.70, representing an annual yield of 3.3%.

Public Employees Retirement System of Ohio lessened its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,364 shares of the financial services provider's stock after selling 2,389 shares during the quarter. Public Employees Retirement System of Ohio's holdings in The PNC Financial Services Group were worth $30,268,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rockland Trust Co. raised its position in shares of The PNC Financial Services Group by 0.5% during the second quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider's stock worth $1,957,000 after acquiring an additional 53 shares during the last quarter. Kestra Investment Management LLC grew its stake in The PNC Financial Services Group by 11.4% in the first quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider's stock valued at $99,000 after acquiring an additional 58 shares during the period. Bank of Stockton grew its stake in The PNC Financial Services Group by 1.2% in the second quarter. Bank of Stockton now owns 4,849 shares of the financial services provider's stock valued at $904,000 after acquiring an additional 58 shares during the period. PKS Advisory Services LLC grew its stake in The PNC Financial Services Group by 3.2% in the first quarter. PKS Advisory Services LLC now owns 1,910 shares of the financial services provider's stock valued at $332,000 after acquiring an additional 60 shares during the period. Finally, Cornerstone Planning Group LLC boosted its position in shares of The PNC Financial Services Group by 50.8% during the first 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 during the period. Institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PNC. Bank of America upped their price objective 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. Stephens reaffirmed an "equal weight" rating and issued a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. Morgan Stanley increased their target price on The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a research note on Thursday, July 17th. Truist Financial increased their target price on The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a "hold" rating in a research note on Wednesday. Finally, Citigroup raised their price objective on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday. One investment 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $215.17.

The PNC Financial Services Group Trading Down 0.1%

NYSE PNC opened at $203.71 on Thursday. The firm has a market capitalization of $80.22 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.50 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 business's 50-day moving average price is $198.10 and its two-hundred day moving average price is $181.59. The PNC Financial Services Group, Inc has a 12 month low of $145.12 and a 12 month high of $216.26.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. During the same period in the previous year, the business earned $3.39 EPS. The firm's revenue 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. On average, analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were paid a $1.70 dividend. The ex-dividend date was Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 3.3%. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 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.

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