Simplicity Wealth LLC Has $1.58 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Simplicity Wealth LLC increased its stake in The PNC Financial Services Group by 212.7%, holding 8,476 shares valued at approximately $1.58 million after additional purchases in the second quarter.
• Analysts have raised their price targets for PNC shares, with Wells Fargo and Citigroup setting new targets at $240 and $230 respectively, indicating strong investor sentiment.
• The PNC Financial Services Group announced a quarterly dividend of $1.70 per share, reflecting an annual yield of 3.4% and a payout ratio of 46.51%.

Simplicity Wealth LLC grew its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 212.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,476 shares of the financial services provider's stock after purchasing an additional 5,765 shares during the period. Simplicity Wealth LLC's holdings in The PNC Financial Services Group were worth $1,580,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PNC. Saudi Central Bank bought a new position in shares of The PNC Financial Services Group in the 1st quarter valued at about $27,000. Cornerstone Planning Group LLC increased its position in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after purchasing an additional 65 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of The PNC Financial Services Group during the 1st quarter worth approximately $35,000. WPG Advisers LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter valued at approximately $36,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of The PNC Financial Services Group in the first quarter valued at $41,000. Institutional investors and hedge funds own 83.53% of the company's stock.

Analysts Set New Price Targets

PNC has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of The PNC Financial Services Group from $230.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday. Evercore ISI lifted their price target on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an "outperform" rating in a report on Tuesday, September 30th. Weiss Ratings restated a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Saturday, September 27th. Citigroup lifted their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Finally, Wall Street Zen raised The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, The PNC Financial Services Group currently has an average rating of "Moderate Buy" and an average price target of $217.11.

The PNC Financial Services Group Price Performance

Shares of NYSE PNC opened at $198.54 on Monday. The firm has a market cap of $78.19 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 1.46 and a beta of 1.10. The business's 50 day moving average is $198.66 and its 200-day moving average is $183.09. 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 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 firm had revenue of $3.01 billion for 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 revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm 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 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be issued a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.4%. The PNC Financial Services Group's payout ratio is currently 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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