Sumitomo Mitsui DS Asset Management Company Ltd Decreases Stock Holdings in The PNC Financial Services Group, Inc $PNC

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 position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PNC. 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 worth $6,673,217,000 after purchasing an additional 248,252 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in The PNC Financial Services Group by 26.1% in 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 last quarter. Ameriprise Financial Inc. increased its stake in The PNC Financial Services Group by 0.5% in the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock valued at $844,967,000 after buying an additional 24,588 shares during the last quarter. Bank of New York Mellon Corp increased its stake in The PNC Financial Services Group by 4.8% in the 1st 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 buying an additional 186,249 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in The PNC Financial Services Group by 41.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock valued at $495,336,000 after buying an additional 830,440 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Stock Performance

NYSE PNC traded down $1.27 on Monday, hitting $204.26. 212,417 shares of the company's stock traded hands, compared to its average volume of 2,232,135. 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 firm's 50-day moving average price is $197.54 and its two-hundred day moving average price is $181.11. The firm has a market capitalization of $80.44 billion, a PE ratio of 13.97, a P/E/G ratio of 1.52 and a beta of 1.11.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating the consensus estimate 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 previous year, the business posted $3.39 EPS. The business'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, 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders 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. This represents a $6.80 dividend on an annualized basis and a dividend 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%.

Analyst Ratings Changes

Several research firms recently commented on PNC. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. 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. Bank of America upped their target price on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Stephens reaffirmed an "equal weight" rating and set a $200.00 target price on shares of The PNC Financial Services Group in a report on Wednesday, September 10th. Finally, Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price objective for the company in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $213.94.

The PNC Financial Services Group 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.