Raleigh Capital Management Inc. Has $2.34 Million Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Raleigh Capital Management Inc. increased its position in The PNC Financial Services Group by 32.2%, holding 12,550 shares worth $2.34 million, making it the 16th largest holding in their portfolio.
• Several institutional investors, including Goldman Sachs and Vanguard Group, have also increased their stakes in PNC, with institutional ownership totaling 83.53%.
• Wall Street analysts have generally given PNC a Moderate Buy rating, with a consensus price target of $216.28, indicating expected growth for the company.

Raleigh Capital Management Inc. increased its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 32.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,550 shares of the financial services provider's stock after buying an additional 3,055 shares during the period. The PNC Financial Services Group accounts for 1.0% of Raleigh Capital Management Inc.'s portfolio, making the stock its 16th largest holding. Raleigh Capital Management Inc.'s holdings in The PNC Financial Services Group were worth $2,340,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 buying an additional 248,252 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in The PNC Financial Services Group by 26.1% during the first 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 purchasing an additional 1,964,157 shares during the last quarter. Ameriprise Financial Inc. grew its holdings 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 valued at $844,967,000 after purchasing an additional 24,588 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in The PNC Financial Services Group by 4.8% during 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 during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in The PNC Financial Services Group by 41.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock valued at $495,336,000 after purchasing an additional 830,440 shares during the last quarter. Institutional investors and hedge funds own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

PNC has been the topic of several analyst reports. Truist Financial increased their price target on The PNC Financial Services Group from $201.00 to $210.00 and gave the company a "hold" rating in a report on Wednesday, September 24th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and increased their price target for the company from $185.00 to $212.00 in a report on Wednesday, July 9th. Bank of America increased their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Morgan Stanley increased their price target on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an "underweight" rating in a report on Monday. Finally, The Goldman Sachs Group increased their price target on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. One equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and a consensus price target of $216.28.

The PNC Financial Services Group Trading Down 0.8%

Shares of The PNC Financial Services Group stock opened at $201.79 on Tuesday. The company's fifty day simple moving average is $198.48 and its 200-day simple moving average is $182.38. The company has a market cap of $79.47 billion, a price-to-earnings ratio of 13.80, a PEG 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 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 earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping the consensus estimate of $3.56 by $0.29. The firm 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 PNC Financial Services Group's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, sell-side 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 announced a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were given a $1.70 dividend. 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 ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group's dividend payout ratio (DPR) 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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