San Luis Wealth Advisors LLC Invests $723,000 in The PNC Financial Services Group, Inc $PNC

Key Points

• San Luis Wealth Advisors LLC invested $723,000 in The PNC Financial Services Group, acquiring 3,878 shares in the second quarter.
• Multiple institutional investors, including Vanguard Group and Goldman Sachs, have raised their stakes in PNC, indicating strong institutional support with 83.53% of shares owned by such investors.
• PNC has recently increased its quarterly dividend from $1.60 to $1.70 per share, representing an annualized yield of 3.3% and a payout ratio of 46.51%.

San Luis Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,878 shares of the financial services provider's stock, valued at approximately $723,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA boosted its stake 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 worth $1,670,249,000 after buying an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of The PNC Financial Services Group by 0.5% during the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock worth $844,967,000 after buying an additional 24,588 shares during the period. Bank of New York Mellon Corp raised its stake in shares of The PNC Financial Services Group by 4.8% during the 1st 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. Finally, Goldman Sachs Group Inc. grew its holdings in shares of The PNC Financial Services Group by 41.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock worth $495,336,000 after purchasing an additional 830,440 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PNC has been the topic of a number of analyst reports. Bank of America boosted their price objective 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. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. The Goldman Sachs Group lifted their price objective on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Truist Financial upped their target price on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a "hold" rating in a research report on Wednesday. Finally, Piper Sandler raised their target price on The PNC Financial Services Group from $200.00 to $211.00 and gave the company a "neutral" rating in a research note on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group has an average rating of "Moderate Buy" and an average price target of $215.17.

The PNC Financial Services Group Stock Up 0.3%

PNC stock opened at $203.30 on Friday. The stock has a market capitalization of $80.06 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. 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 current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99. The firm has a 50-day moving average price of $198.37 and a 200-day moving average price of $182.09.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted 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 PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter in the previous year, the firm earned $3.39 EPS. The company's quarterly revenue 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. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend 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 dividend on an annualized basis and a dividend yield of 3.3%. The PNC Financial Services Group's payout ratio is currently 46.51%.

The PNC Financial Services Group Company 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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