The PNC Financial Services Group, Inc $PNC Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in The PNC Financial Services Group by 8.4%, selling 4,776 shares during the second quarter, leaving them with 51,837 shares valued at approximately $9.66 million.
• PNC recently declared a quarterly dividend of $1.70, an increase from the previous $1.60, representing a 3.3% dividend yield.
• Wall Street analysts have a moderate buy average rating for PNC, with a price target of $213.67 and various firms adjusting their price targets upward.

Sumitomo Mitsui DS Asset Management Company Ltd reduced its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 8.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,837 shares of the financial services provider's stock after selling 4,776 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in The PNC Financial Services Group were worth $9,663,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA raised 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 valued at $1,670,249,000 after buying an additional 1,964,157 shares during the period. Nuveen LLC purchased a new stake in The PNC Financial Services Group in the first quarter valued at approximately $306,905,000. GAMMA Investing LLC raised its position in The PNC Financial Services Group by 19,279.5% in the first quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock valued at $201,961,000 after purchasing an additional 1,143,079 shares during the period. Amundi raised its position in The PNC Financial Services Group by 76.1% in the first quarter. Amundi now owns 2,186,073 shares of the financial services provider's stock valued at $352,592,000 after purchasing an additional 944,731 shares during the period. Finally, AQR Capital Management LLC raised its position in The PNC Financial Services Group by 187.3% in the first quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider's stock valued at $245,055,000 after purchasing an additional 926,709 shares during the period. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Piper Sandler boosted 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 report on Wednesday, September 10th. Raymond James Financial boosted their target price on The PNC Financial Services Group from $220.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Morgan Stanley boosted their target price on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research report on Thursday, July 17th. Finally, Citigroup boosted their target price on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $213.94.

The PNC Financial Services Group Stock Performance

NYSE PNC traded down $0.74 during trading hours on Friday, hitting $205.53. The company had a trading volume of 3,001,178 shares, compared to its average volume of 1,444,857. The business has a 50 day moving average of $197.54 and a 200-day moving average of $181.09. The PNC Financial Services Group, Inc has a 1-year low of $145.12 and a 1-year high of $216.26. 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 company has a market cap of $80.94 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.52 and a beta of 1.11.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results 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 net margin of 18.33% and a return on equity of 11.07%. The business had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $5.61 billion. During the same period in the prior year, the company earned $3.39 earnings per share. The business's 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 expect 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 declared a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were issued a dividend of $1.70 per share. 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 yield of 3.3%. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group's dividend 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.