The PNC Financial Services Group, Inc $PNC Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in The PNC Financial Services Group, Inc by 30.4%, acquiring more than 253,000 shares in the first quarter, bringing its total ownership to 1,086,589 shares valued at approximately $190.99 million.
• PNC Financial Services received several upgrades from analysts, including a target price increase to $238.00 by Oppenheimer and an upgrade to "outperform" by Raymond James, contributing to its average rating of "Moderate Buy."
• The company recently announced a quarterly dividend increase from $1.60 to $1.70 per share, representing an annualized dividend yield of 3.6%.

American Century Companies Inc. increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 30.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,086,589 shares of the financial services provider's stock after buying an additional 253,154 shares during the quarter. American Century Companies Inc. owned about 0.27% of The PNC Financial Services Group worth $190,990,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PNC. Massachusetts Financial Services Co. MA lifted its position in 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 worth $1,670,249,000 after acquiring an additional 1,964,157 shares during the period. Nuveen LLC acquired a new stake in The PNC Financial Services Group during the 1st quarter worth approximately $306,905,000. Leigh Baldwin & CO. LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth approximately $299,864,000. GAMMA Investing LLC lifted its position in The PNC Financial Services Group by 19,279.5% during the 1st quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock worth $201,961,000 after acquiring an additional 1,143,079 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of 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 period. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on PNC shares. TD Cowen started coverage on The PNC Financial Services Group in a report on Thursday, May 15th. They issued a "buy" rating and a $233.00 price target for the company. The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Oppenheimer raised 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. Raymond James Financial raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a research report on Tuesday, July 8th. Finally, Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $214.17.

Insiders Place Their Bets

In related news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $169.75, for a total value of $210,829.50. Following the transaction, the chief executive officer owned 554,879 shares in the company, valued at approximately $94,190,710.25. This trade represents a 0.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Trading Up 0.4%

Shares of NYSE:PNC traded up $0.8040 during midday trading on Tuesday, reaching $192.8140. The company's stock had a trading volume of 1,701,219 shares, compared to its average volume of 2,333,040. The firm has a market cap of $75.93 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09. The company has a quick ratio of 0.80, a current 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 business has a 50 day moving average price of $189.24 and a 200 day moving average price of $179.33.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued 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 firm had revenue of $3.01 billion for the quarter, compared to analysts' expectations of $5.61 billion. During the same quarter last year, the firm earned $3.39 earnings per share. The firm's revenue for the quarter 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. Research 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 issued a $1.70 dividend. The ex-dividend date 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 yield of 3.5%. The PNC Financial Services Group's payout ratio is 46.51%.

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.