The Manufacturers Life Insurance Company Has $59.07 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Key Points

• The Manufacturers Life Insurance Company has reduced its stake in The PNC Financial Services Group by 1.3%, now holding 336,057 shares worth approximately $59.07 million.
• In recent analyst reports, Citigroup raised its price target for PNC stock from $205.00 to $217.00, maintaining a "buy" rating, while Oppenheimer upgraded it to an "outperform" rating with a target of $238.00.
• The PNC Financial Services Group recently announced an increased quarterly dividend of $1.70 per share, up from $1.60, reflecting a robust annualized yield of 3.3%.

The Manufacturers Life Insurance Company lowered its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 1.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 336,057 shares of the financial services provider's stock after selling 4,407 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of The PNC Financial Services Group worth $59,069,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in The PNC Financial Services Group by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 37,965,619 shares of the financial services provider's stock valued at $6,673,217,000 after purchasing an additional 248,252 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in The PNC Financial Services Group by 26.1% in the 1st 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 purchasing an additional 1,964,157 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of The PNC Financial Services Group by 0.5% during the 1st quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider's stock worth $844,967,000 after acquiring an additional 24,588 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of The PNC Financial Services Group by 4.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider's stock worth $713,063,000 after acquiring an additional 186,249 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of The PNC Financial Services Group by 5.3% during the 4th quarter. Royal Bank of Canada now owns 3,573,162 shares of the financial services provider's stock worth $689,084,000 after acquiring an additional 179,760 shares during the period. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 1.0%

NYSE PNC traded down $2.03 during mid-day trading on Tuesday, reaching $205.41. 1,646,781 shares of the stock were exchanged, compared to its average volume of 1,465,881. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The stock has a 50 day simple moving average of $194.71 and a 200-day simple moving average of $179.76. The stock has a market cap of $80.89 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.53 and a beta of 1.11. 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 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 net margin of 18.33% and a return on equity of 11.07%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter last year, the firm earned $3.39 earnings per share. The PNC Financial Services Group'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. On average, analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were paid a $1.70 dividend. This represents a $6.80 annualized dividend and a yield of 3.3%. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group's payout ratio is presently 46.51%.

Analyst Ratings Changes

A number of analysts have recently weighed in on PNC shares. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. Bank of America increased their price objective on shares of 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. Oppenheimer raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $238.00 price objective for the company in a research note on Wednesday, July 30th. The Goldman Sachs Group increased their price objective on shares of 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. Finally, Wolfe Research reissued a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $214.17.

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.