The PNC Financial Services Group, Inc $PNC Holdings Cut by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC decreased its holdings in The PNC Financial Services Group by 17.3% in Q1, now owning approximately 0.23% of the company, worth about $158.5 million.
• The PNC Financial Services Group recently raised its quarterly dividend from $1.60 to $1.70, resulting in an annualized dividend of $6.80 and a yield of 3.4%.
• The company reported earnings per share of $3.85 for the latest quarter, exceeding analysts' estimates, while guidance for the fiscal year suggests a projected EPS of 15.37.

Voya Investment Management LLC lessened its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 17.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 902,428 shares of the financial services provider's stock after selling 188,941 shares during the period. Voya Investment Management LLC owned approximately 0.23% of The PNC Financial Services Group worth $158,479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PNC. Saudi Central Bank acquired a new stake in shares of The PNC Financial Services Group in the first quarter valued at approximately $27,000. Cornerstone Planning Group LLC increased its position in The PNC Financial Services Group by 50.8% in the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 65 shares during the period. REAP Financial Group LLC raised its stake in The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in The PNC Financial Services Group during the 1st quarter worth $35,000. Finally, WPG Advisers LLC acquired a new position in shares of The PNC Financial Services Group during the first quarter valued at $36,000. 83.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a report on Thursday, July 3rd. Oppenheimer upgraded The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price target on the stock in a research report on Wednesday, July 30th. The Goldman Sachs Group raised their target price 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. Bank of America lifted their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Finally, Truist Financial upped their price target on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the company a "hold" rating in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.67.

The PNC Financial Services Group Trading Down 0.3%

Shares of NYSE:PNC traded down $0.60 during midday trading on Friday, reaching $202.15. The company had a trading volume of 1,015,305 shares, compared to its average volume of 1,509,861. The company has a fifty day simple moving average of $196.88 and a two-hundred day simple moving average of $180.42. The firm has a market cap of $79.61 billion, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.49 and a beta of 1.11. 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 quick ratio of 0.80 and a current ratio of 0.80.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, beating analysts' consensus estimates of $3.56 by $0.29. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same period in the prior year, the firm earned $3.39 earnings per share. The business's quarterly revenue was up 4.6% on a year-over-year basis. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, July 15th. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The PNC Financial Services Group's dividend payout ratio is presently 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.