Novem Group Purchases 876 Shares of The PNC Financial Services Group, Inc $PNC

Novem Group increased its position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 4.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,969 shares of the financial services provider’s stock after buying an additional 876 shares during the quarter. Novem Group’s holdings in The PNC Financial Services Group were worth $3,723,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in The PNC Financial Services Group by 0.7% in the first 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 in the last quarter. Massachusetts Financial Services Co. MA grew its stake 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 purchasing an additional 1,964,157 shares in the last quarter. Ameriprise Financial Inc. grew its stake in The PNC Financial Services Group by 0.5% in the first quarter. Ameriprise Financial Inc. now owns 4,807,684 shares of the financial services provider’s stock valued at $844,967,000 after purchasing an additional 24,588 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of The PNC Financial Services Group by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,056,797 shares of the financial services provider’s stock valued at $713,063,000 after purchasing an additional 186,249 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of The PNC Financial Services Group by 41.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,818,090 shares of the financial services provider’s stock valued at $495,336,000 after purchasing an additional 830,440 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PNC shares. Raymond James Financial upped their target price on shares of The PNC Financial Services Group from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Wall Street Zen upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Piper Sandler lifted their target price on The PNC Financial Services Group from $200.00 to $211.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Truist Financial lifted their price objective on shares of The PNC Financial Services Group from $201.00 to $210.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Wolfe Research reaffirmed a “peer perform” rating on shares of The PNC Financial Services Group in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.17.

The PNC Financial Services Group Stock Performance

PNC opened at $202.89 on Friday. The business has a fifty day simple moving average of $198.23 and a 200 day simple moving average of $181.78. The company has a market capitalization of $79.90 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.51 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 current ratio of 0.80 and a quick ratio of 0.80.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.29. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.39 EPS. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. Research analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th were paid a $1.70 dividend. This is a boost from The PNC Financial Services Group’s previous quarterly dividend of $1.60. The ex-dividend date was Tuesday, July 15th. This represents a $6.80 annualized dividend and a yield of 3.4%. 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.