The PNC Financial Services Group, Inc $PNC Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in The PNC Financial Services Group by 1.0%, now holding approximately 0.06% of the company, valued at $47.2 million.
• Massachusetts Financial Services Co. MA increased its shareholding in PNC by 26.1%, owning over 9.5 million shares worth around $1.67 billion.
• The PNC Financial Services Group announced a quarterly dividend of $1.70, with an annualized dividend yield of 3.6%, scheduled for payment on November 5th.

US Bancorp DE cut its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 253,227 shares of the financial services provider's stock after selling 2,468 shares during the quarter. US Bancorp DE owned approximately 0.06% of The PNC Financial Services Group worth $47,207,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PNC. Massachusetts Financial Services Co. MA lifted its holdings in 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 acquiring an additional 1,964,157 shares during the period. Nuveen LLC acquired a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $306,905,000. Amundi raised its stake in shares of The PNC Financial Services Group by 76.1% during the 1st quarter. Amundi now owns 2,186,073 shares of the financial services provider's stock worth $352,592,000 after buying an additional 944,731 shares during the period. AQR Capital Management LLC raised its stake in shares of The PNC Financial Services Group by 187.3% during the 1st quarter. AQR Capital Management LLC now owns 1,421,434 shares of the financial services provider's stock worth $245,055,000 after buying an additional 926,709 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of The PNC Financial Services Group by 41.8% during the 1st 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 during the period. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on PNC. The Goldman Sachs Group upped their target price on 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. Oppenheimer reduced their target price on The PNC Financial Services Group from $238.00 to $235.00 and set an "outperform" rating for the company in a research note on Tuesday, September 23rd. Citigroup upped their target price on The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Evercore ISI upped their target price on The PNC Financial Services Group from $220.00 to $230.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 30th. Finally, Morgan Stanley boosted their price target on The PNC Financial Services Group from $186.00 to $206.00 and gave the stock an "underweight" rating in a research report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $218.21.

The PNC Financial Services Group Trading Up 0.3%

Shares of The PNC Financial Services Group stock opened at $190.64 on Friday. The stock has a market cap of $75.08 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.40 and a beta of 1.10. The stock's 50 day simple moving average is $198.68 and its 200-day simple moving average is $183.47. 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 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 analysts' expectations of $5.61 billion. During the same period in the previous year, the firm posted $3.39 EPS. The business'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. Analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Tuesday, October 14th will be paid 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 dividend yield of 3.6%. The PNC Financial Services Group's dividend payout ratio (DPR) 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.

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