Rafferty Asset Management LLC Has $22.82 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Rafferty Asset Management LLC has reduced its stake in The PNC Financial Services Group by 7.3%, selling 10,182 shares and bringing its total holdings to 129,802 shares, valued at approximately $22.8 million.
• Multiple institutional investors have recently adjusted their holdings in PNC, with Cornerstone Planning Group LLC increasing its stake by 50.8% during the 1st quarter.
• The latest analyst reports indicate a predominantly positive outlook, with 11 "Buy" ratings and a consensus price target of $214.17 for the stock.

Rafferty Asset Management LLC lessened its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 7.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,802 shares of the financial services provider's stock after selling 10,182 shares during the quarter. Rafferty Asset Management LLC's holdings in The PNC Financial Services Group were worth $22,815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its holdings in The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after buying an additional 65 shares during the period. Opal Wealth Advisors LLC bought a new stake in The PNC Financial Services Group in the 1st quarter valued at $35,000. REAP Financial Group LLC increased its holdings in The PNC Financial Services Group by 67.2% in the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after buying an additional 80 shares during the period. True Wealth Design LLC increased its holdings in The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after buying an additional 59 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in The PNC Financial Services Group in the 1st quarter valued at $41,000. Institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PNC shares. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Truist Financial upped their target price on shares of 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 upped 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 report on Thursday, July 17th. Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 target price on the stock in a report on Wednesday, July 30th. Finally, TD Cowen initiated coverage on shares of The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 target price on the stock. One research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $214.17.

The PNC Financial Services Group Price Performance

NYSE PNC traded up $2.09 on Friday, hitting $207.71. 2,045,627 shares of the company were exchanged, compared to its average volume of 1,574,998. The firm has a 50 day moving average of $193.71 and a two-hundred day moving average of $179.59. 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 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, Inc has a 1-year low of $145.12 and a 1-year high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $3.01 billion for 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 firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $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 predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were given a dividend of $1.70 per share. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.3%. The PNC Financial Services Group's dividend payout ratio is currently 46.51%.

About The PNC Financial Services Group

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.