Cresset Asset Management LLC Grows Stake in The PNC Financial Services Group, Inc $PNC

Key Points

• Cresset Asset Management LLC increased its stake in The PNC Financial Services Group by 4.4% during the first quarter, bringing its total holdings to approximately $6.98 million.
• The company's quarterly dividend was raised to $1.70 per share, resulting in an annualized yield of 3.6%, up from the previous $1.60 dividend.
• Oppenheimer upgraded PNC shares from "market perform" to "outperform," with a new price target set at $238, indicating a bullish outlook on the company's stock.

Cresset Asset Management LLC boosted its holdings in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,709 shares of the financial services provider's stock after purchasing an additional 1,674 shares during the period. Cresset Asset Management LLC's holdings in The PNC Financial Services Group were worth $6,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its stake in shares of The PNC Financial Services Group by 26.1% in the first 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 bought a new stake in shares of The PNC Financial Services Group in the first quarter valued at $306,905,000. Leigh Baldwin & CO. LLC bought a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at $299,864,000. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 1,143,079 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of The PNC Financial Services Group by 41.8% in the first 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. Hedge funds and other institutional investors own 83.53% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on PNC. Bank of America boosted their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Wolfe Research reiterated a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Raymond James Financial upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 price objective on the stock in a research note on Tuesday, July 8th. Morgan Stanley boosted their price objective on The PNC Financial Services Group from $179.00 to $186.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. Finally, Citigroup boosted their price objective on The PNC Financial Services Group from $205.00 to $217.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $214.17.

The PNC Financial Services Group Price Performance

NYSE PNC traded up $7.5870 during trading on Friday, reaching $201.5870. The company's stock had a trading volume of 1,279,479 shares, compared to its average volume of 2,317,783. The stock has a market capitalization of $79.39 billion, a PE ratio of 13.79, a P/E/G ratio of 1.44 and a beta of 1.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a fifty day moving average of $190.18 and a 200 day moving average of $179.51. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26.

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 earnings per share for the quarter, topping 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 business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $5.61 billion. During the same period in the prior year, the company earned $3.39 EPS. The company'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. Analysts expect that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced 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. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.4%. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio (DPR) is currently 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.