12,095 Shares in The PNC Financial Services Group, Inc $PNC Acquired by Retirement Planning Co of New England Inc.

Key Points

• Retirement Planning Co of New England Inc. acquired 12,095 shares of The PNC Financial Services Group, Inc, valued at approximately $2.1 million, reflecting institutional interest in the company.
• PNC reported earnings per share (EPS) of $3.85 for the last quarter, exceeding analysts' expectations of $3.56, indicating strong financial performance.
• The company has increased its quarterly dividend to $1.70 per share, which translates to an annual yield of 3.3%, showcasing its commitment to returning value to shareholders.

Retirement Planning Co of New England Inc. purchased a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,095 shares of the financial services provider's stock, valued at approximately $2,126,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 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 valued at $6,673,217,000 after acquiring an additional 248,252 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position 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. lifted its position 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 lifted its position 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, Royal Bank of Canada lifted its position in The PNC Financial Services Group by 5.3% during the fourth quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider's stock valued at $689,084,000 after purchasing an additional 179,760 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 1.0%

Shares of The PNC Financial Services Group stock traded down $2.03 on Tuesday, hitting $205.41. 1,646,781 shares of the company traded hands, compared to its average volume of 1,465,881. The stock's 50 day moving average price is $194.71 and its 200-day moving average price is $179.76. 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 52 week low of $145.12 and a 52 week high of $216.26. The company has a market cap of $80.89 billion, a PE ratio of 14.05, a PEG ratio of 1.53 and a beta of 1.11.

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 earnings per share for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates 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 revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Equities research 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 company also recently disclosed 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 was Tuesday, July 15th. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. The PNC Financial Services Group's dividend payout ratio is presently 46.51%.

Analysts Set New Price Targets

PNC has been the subject of a number of analyst reports. Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price target for the company in a report on Wednesday, July 30th. Bank of America raised their price target 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. Citigroup raised their target price on shares of The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their target price for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. Finally, Truist Financial raised their price objective on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average price target of $214.17.

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.