The PNC Financial Services Group, Inc $PNC Stock Position Reduced by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in The PNC Financial Services Group by 9.5% and now owns 127,579 shares valued at approximately $22.4 million.
• Multiple institutional investors, including Vanguard Group and Massachusetts Financial Services, increased their positions, reflecting strong institutional interest with 83.53% of the stock currently held by such investors.
• The PNC Financial Services Group reported earnings of $3.85 per share in its last quarter, exceeding estimates, and declared a quarterly dividend of $1.70 per share, increasing from $1.60.

State of New Jersey Common Pension Fund D reduced its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 9.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,579 shares of the financial services provider's stock after selling 13,338 shares during the period. State of New Jersey Common Pension Fund D's holdings in The PNC Financial Services Group were worth $22,425,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PNC. Massachusetts Financial Services Co. MA increased its position in The PNC Financial Services Group by 26.1% during the first 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 buying an additional 1,964,157 shares in the last quarter. Nuveen LLC purchased a new position in The PNC Financial Services Group during the first quarter worth $306,905,000. Leigh Baldwin & CO. LLC purchased a new position in The PNC Financial Services Group during the fourth quarter worth $299,864,000. GAMMA Investing LLC increased its position in The PNC Financial Services Group by 19,279.5% during the first quarter. GAMMA Investing LLC now owns 1,149,008 shares of the financial services provider's stock worth $201,961,000 after buying an additional 1,143,079 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in The PNC Financial Services Group by 41.8% during the first quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider's stock worth $495,336,000 after buying an additional 830,440 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Up 1.3%

The PNC Financial Services Group stock traded up $2.5170 during midday trading on Wednesday, reaching $195.5070. The stock had a trading volume of 1,107,069 shares, compared to its average volume of 2,324,717. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The stock has a market capitalization of $76.99 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.42 and a beta of 1.09. 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's 50-day simple moving average is $189.51 and its 200 day simple moving average is $179.43.

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, topping analysts' consensus estimates of $3.56 by $0.29. The company had revenue of $3.01 billion for the quarter, compared to analysts' expectations 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 firm's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. 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. Shareholders of record on Tuesday, July 15th were paid a dividend of $1.70 per share. This is a boost 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 3.5%. The ex-dividend date was Tuesday, July 15th. The PNC Financial Services Group's payout ratio is presently 46.51%.

Insider Activity at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction dated 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. The trade was a 0.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Citigroup raised their price target on The PNC Financial Services Group from $205.00 to $217.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded The PNC Financial Services Group from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods upgraded The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and raised their price objective for the stock from $185.00 to $212.00 in a report on Wednesday, July 9th. Oppenheimer upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price objective on the stock in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group raised their price objective on The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. One equities 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of "Moderate Buy" and an average target price of $214.17.

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.