Quantitative Investment Management LLC Acquires Shares of 4,392 The PNC Financial Services Group, Inc $PNC

Key Points

• Quantitative Investment Management LLC acquired 4,392 shares of The PNC Financial Services Group, valued at approximately $771,000, during the first quarter.
• A significant majority of PNC's stock, 83.53%, is owned by institutional investors, reflecting strong institutional interest in the company.
• The PNC Financial Services Group recently increased its quarterly dividend from $1.60 to $1.70, resulting in an annualized yield of 3.4%.

Quantitative Investment Management LLC acquired a new position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,392 shares of the financial services provider's stock, valued at approximately $771,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in 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 worth $6,673,217,000 after purchasing an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in The PNC Financial Services Group by 26.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,502,467 shares of the financial services provider's stock worth $1,670,249,000 after purchasing an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in The PNC Financial Services Group by 0.5% in the first quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock worth $844,967,000 after purchasing an additional 24,588 shares in the last quarter. Northern Trust Corp raised its holdings in The PNC Financial Services Group by 14.9% in the fourth quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock worth $905,530,000 after purchasing an additional 608,375 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in 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 worth $713,063,000 after purchasing an additional 186,249 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on PNC. Truist Financial increased their price objective 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. Morgan Stanley lifted their price target on 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. Raymond James Financial upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a report on Tuesday, July 8th. Bank of America lifted their price objective on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, 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 report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and an average price target of $214.17.

The PNC Financial Services Group Stock Performance

Shares of PNC stock traded up $2.09 during trading hours on Friday, reaching $207.71. 2,045,627 shares of the company traded hands, compared to its average volume of 2,304,704. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market cap of $81.80 billion, a P/E ratio of 14.21, a P/E/G ratio of 1.53 and a beta of 1.09. The firm has a 50-day moving average price of $193.10 and a 200 day moving average price of $179.64.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share 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 firm had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $5.61 billion. During the same period in the previous year, the firm earned $3.39 EPS. The business's quarterly revenue was up 4.6% on a year-over-year basis. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side 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 declared a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were issued a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.80 dividend on an annualized basis and a 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 presently 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.