Wellington Management Group LLP Has $62.71 Million Stock Position in The PNC Financial Services Group, Inc $PNC

Key Points

• Wellington Management Group LLP reduced its stake in The PNC Financial Services Group by 2.9%, selling 10,669 shares and holding a total of 356,772 shares valued at approximately $62.71 million.
• The PNC Financial Services Group reported a quarterly earnings per share (EPS) of $3.85, exceeding analysts' expectations of $3.56, with a revenue increase of 4.6% year-over-year.
• The firm has recently increased its quarterly dividend to $1.70, resulting in an annualized yield of 3.4% and a payout ratio of 46.51%.

Wellington Management Group LLP reduced its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 356,772 shares of the financial services provider's stock after selling 10,669 shares during the quarter. Wellington Management Group LLP owned approximately 0.09% of The PNC Financial Services Group worth $62,710,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cornerstone Planning Group LLC grew its stake in shares of The PNC Financial Services Group by 50.8% during the 1st quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock worth $34,000 after acquiring an additional 65 shares in the last quarter. REAP Financial Group LLC grew its stake in shares of 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 worth $38,000 after acquiring an additional 80 shares in the last quarter. True Wealth Design LLC grew its stake in shares of The PNC Financial Services Group by 41.5% during the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock worth $39,000 after acquiring an additional 59 shares in the last quarter. Opal Wealth Advisors LLC bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $35,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of The PNC Financial Services Group during the 1st quarter worth approximately $41,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Stock Performance

PNC stock traded down $0.50 during midday trading on Thursday, reaching $205.55. 302,197 shares of the company were exchanged, compared to its average volume of 2,296,164. 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 business has a 50-day moving average price of $192.49 and a two-hundred day moving average price of $179.59. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The firm has a market capitalization of $80.95 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $3.85 EPS 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 firm had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $5.61 billion. During the same period in the previous year, the business posted $3.39 earnings per share. The company'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. Equities research analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 15th were issued a dividend of $1.70 per share. This is an increase from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, July 15th. The PNC Financial Services Group's payout ratio is 46.51%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of The PNC Financial Services Group from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Morgan Stanley raised their target price on shares of 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. The Goldman Sachs Group raised their target price 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. Raymond James Financial raised shares of The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research note on Tuesday, July 8th. Finally, Citigroup raised their target price on shares of 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 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 assigned a Sell rating to the company. According to MarketBeat, The PNC Financial Services Group currently 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.