The PNC Financial Services Group, Inc $PNC Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments increased its stake in The PNC Financial Services Group by 8.8% in the second quarter, acquiring an additional 4,142 shares, bringing its total holdings to 51,263 shares valued at approximately $9.56 million.
• Multiple analysts have raised their price targets for PNC shares, with Evercore ISI increasing the target to $230 and Raymond James raising it to $225, reflecting a consensus rating of "Moderate Buy".
• The PNC Financial Services Group announced a quarterly dividend of $1.70, with an annualized yield of 3.4%, payable on November 5th to those on record as of October 14th.

Mirae Asset Global Investments Co. Ltd. boosted its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 8.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 51,263 shares of the financial services provider's stock after purchasing an additional 4,142 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in The PNC Financial Services Group were worth $9,556,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Avior Wealth Management LLC grew its stake in shares of The PNC Financial Services Group by 4.5% in the second quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider's stock valued at $226,000 after buying an additional 52 shares in the last quarter. Rockland Trust Co. lifted its stake in The PNC Financial Services Group by 0.5% during the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider's stock worth $1,957,000 after acquiring an additional 53 shares in the last quarter. Kestra Investment Management LLC lifted its stake in The PNC Financial Services Group by 11.4% during the 1st quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider's stock worth $99,000 after acquiring an additional 58 shares in the last quarter. Bank of Stockton boosted its holdings in The PNC Financial Services Group by 1.2% during the 2nd quarter. Bank of Stockton now owns 4,849 shares of the financial services provider's stock valued at $904,000 after acquiring an additional 58 shares during the period. Finally, Venture Visionary Partners LLC grew its position in The PNC Financial Services Group by 2.2% in the 2nd quarter. Venture Visionary Partners LLC now owns 2,677 shares of the financial services provider's stock valued at $499,000 after acquiring an additional 58 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. Raymond James Financial upped their target price on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, September 19th. Evercore ISI raised their price target on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an "outperform" rating in a research report on Tuesday, September 30th. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Finally, Bank of America upped their price objective on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $217.11.

The PNC Financial Services Group Stock Up 0.2%

Shares of NYSE PNC opened at $198.54 on Monday. The business has a 50-day moving average of $198.66 and a two-hundred day moving average of $183.09. The company has a market capitalization of $78.19 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.46 and a beta of 1.10. 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 current ratio of 0.80 and a quick ratio of 0.80.

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, topping the consensus estimate of $3.56 by $0.29. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates 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 business's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. On average, analysts forecast that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Tuesday, October 14th will be given a $1.70 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $6.80 dividend on an annualized basis and a yield of 3.4%. The PNC Financial Services Group's payout ratio is 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.

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