Ransom Advisory Ltd Purchases New Shares in The PNC Financial Services Group, Inc $PNC

Key Points

• Ransom Advisory Ltd has acquired a new stake in The PNC Financial Services Group, purchasing 10,827 shares valued at approximately $1.9 million, which makes PNC 28th largest holding in its portfolio.
• PNC Financial Services recently increased its quarterly dividend from $1.60 to $1.70, representing an annualized dividend of $6.80 and a dividend yield of 3.4%.
• Several analysts have upgraded PNC's stock rating, with Oppenheimer increasing its price target to $238.00 and Citigroup raising theirs to $217.00, reflecting a positive outlook for the company.

Ransom Advisory Ltd acquired a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 10,827 shares of the financial services provider's stock, valued at approximately $1,903,000. The PNC Financial Services Group accounts for about 0.9% of Ransom Advisory Ltd's investment portfolio, making the stock its 28th largest holding.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of The PNC Financial Services Group by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock worth $6,673,217,000 after acquiring an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of The PNC Financial Services Group by 26.1% during the 1st 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 buying an additional 1,964,157 shares during the last quarter. Ameriprise Financial Inc. boosted its stake 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 valued at $844,967,000 after buying an additional 24,588 shares in the last quarter. Bank of New York Mellon Corp raised its stake 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 worth $713,063,000 after acquiring an additional 186,249 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of The PNC Financial Services Group by 5.3% in the fourth quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider's stock worth $689,084,000 after acquiring an additional 179,760 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Oppenheimer raised shares of 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 research note on Wednesday, July 30th. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Citigroup raised their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a report on Thursday, July 17th. TD Cowen initiated coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 target price for the company. Finally, Bank of America lifted their price target on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and a consensus price target of $214.17.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $200.29 on Wednesday. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. The firm has a market capitalization of $78.87 billion, a P/E ratio of 13.70, a P/E/G ratio of 1.51 and a beta of 1.11. The firm's 50-day moving average price is $196.46 and its 200-day moving average price is $180.15. 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 (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 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 firm had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $5.61 billion. During the same quarter last year, the firm posted $3.39 earnings per share. The company's revenue for the quarter 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. Equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.4%. This is a positive change 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 payout ratio is 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.

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