Parallel Advisors LLC Has $646,000 Stock Holdings in The PNC Financial Services Group, Inc $PNC

Parallel Advisors LLC decreased its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 7.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,466 shares of the financial services provider’s stock after selling 269 shares during the period. Parallel Advisors LLC’s holdings in The PNC Financial Services Group were worth $646,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PNC. Vanguard Group Inc. raised its holdings in shares of 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 during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of 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 during 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 first 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 last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of The PNC Financial Services Group by 41.8% in the first 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 last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Upgrades and Downgrades

PNC has been the subject of several analyst reports. Piper Sandler increased their target price on shares of The PNC Financial Services Group from $200.00 to $211.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Truist Financial increased their target price on shares of The PNC Financial Services Group from $189.00 to $198.00 and gave the stock a “hold” rating in a research report on Wednesday, July 9th. Oppenheimer upgraded shares of The PNC Financial Services Group from a “market perform” rating to an “outperform” rating and set a $238.00 target price for the company in a research report on Wednesday, July 30th. Bank of America increased their target price on shares of The PNC Financial Services Group from $223.00 to $226.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Finally, Stephens reiterated an “equal weight” rating and set a $200.00 target price on shares of The PNC Financial Services Group in a research report on Wednesday, September 10th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $213.67.

The PNC Financial Services Group Trading Up 1.2%

PNC stock opened at $206.31 on Friday. The company has a market capitalization of $81.24 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $216.26. The company’s 50 day moving average price is $197.37 and its two-hundred day moving average price is $180.91. 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) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $3.85 EPS for the quarter, topping the consensus estimate of $3.56 by $0.29. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $5.61 billion. The PNC Financial Services Group had a net margin of 18.33% and a return on equity of 11.07%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $3.39 earnings per share. The PNC Financial Services Group has set its Q3 2025 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts predict that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 15th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.3%. This is a boost 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 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.