SCS Capital Management LLC Makes New Investment in The PNC Financial Services Group, Inc $PNC

Key Points

• SCS Capital Management LLC has invested approximately $1.49 million in The PNC Financial Services Group, purchasing 8,472 shares during the first quarter.
• Wall Street analysts have generally positive views on PNC, with a consensus rating of "Moderate Buy" and a price target averaging $213.67.
• The PNC Financial Services Group recently increased its quarterly dividend from $1.60 to $1.70 per share, resulting in an annualized dividend yield of 3.4%.

SCS Capital Management LLC bought a new stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,472 shares of the financial services provider's stock, valued at approximately $1,489,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Saudi Central Bank bought a new position in shares of The PNC Financial Services Group in the 1st quarter worth about $27,000. Cornerstone Planning Group LLC boosted its stake in The PNC Financial Services Group by 50.8% in the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 65 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group during the first quarter valued at approximately $35,000. WPG Advisers LLC acquired a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $36,000. Finally, REAP Financial Group LLC lifted its holdings in shares of 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 worth $38,000 after purchasing an additional 80 shares during the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Bank of America lifted their target price 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. Piper Sandler upped their target price on The PNC Financial Services Group from $200.00 to $211.00 and gave the company a "neutral" rating in a report on Wednesday. Citigroup raised their price target 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. Finally, Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and an average target price of $213.67.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock traded down $0.60 on Friday, reaching $202.15. The stock had a trading volume of 1,015,305 shares, compared to its average volume of 1,524,116. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The business's 50-day moving average price is $196.88 and its two-hundred day moving average price is $180.52. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $79.61 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11.

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 EPS for the quarter, topping analysts' consensus estimates of $3.56 by $0.29. The company 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 company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts forecast 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 dividend of $1.70 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 3.4%. The PNC Financial Services Group's dividend payout ratio is 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.