Parsons Capital Management Inc. RI Cuts Stock Position in The PNC Financial Services Group, Inc $PNC

Parsons Capital Management Inc. RI reduced its position in The PNC Financial Services Group, Inc (NYSE:PNC) by 67.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,034 shares of the financial services provider’s stock after selling 10,200 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in The PNC Financial Services Group were worth $938,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PNC. Avior Wealth Management LLC boosted its holdings in The PNC Financial Services Group by 4.5% during the 2nd quarter. Avior Wealth Management LLC now owns 1,213 shares of the financial services provider’s stock valued at $226,000 after acquiring an additional 52 shares during the period. Rockland Trust Co. boosted its holdings in The PNC Financial Services Group by 0.5% during the 2nd quarter. Rockland Trust Co. now owns 10,499 shares of the financial services provider’s stock valued at $1,957,000 after acquiring an additional 53 shares during the period. Kestra Investment Management LLC boosted its holdings in The PNC Financial Services Group by 11.4% during the 1st quarter. Kestra Investment Management LLC now owns 566 shares of the financial services provider’s stock valued at $99,000 after acquiring an additional 58 shares during the period. Bank of Stockton boosted its holdings in The PNC Financial Services Group by 1.2% during the 2nd quarter. Bank of Stockton now owns 4,849 shares of the financial services provider’s stock valued at $904,000 after acquiring an additional 58 shares during the period. Finally, Venture Visionary Partners LLC boosted its holdings in The PNC Financial Services Group by 2.2% during the 2nd quarter. Venture Visionary Partners LLC now owns 2,677 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 58 shares during the period. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PNC shares. Morgan Stanley increased their target price on The PNC Financial Services Group from $186.00 to $206.00 and gave the company an “underweight” rating in a report on Monday. Evercore ISI increased their target price on The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday. Bank of America increased their target price on The PNC Financial Services Group from $223.00 to $226.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Citigroup upped their price target on The PNC Financial Services Group from $217.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Finally, Wall Street Zen raised The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and a consensus price target of $216.56.

The PNC Financial Services Group Stock Down 0.1%

Shares of NYSE:PNC opened at $198.17 on Friday. The PNC Financial Services Group, Inc has a 52-week low of $145.12 and a 52-week high of $216.26. The firm has a market capitalization of $78.04 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.46 and a beta of 1.10. The stock has a 50 day moving average price of $198.61 and a 200-day moving average price of $182.79. 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 announced its earnings results on Wednesday, July 16th. The financial services provider reported $3.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.29. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%.The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $5.61 billion. During the same quarter in the prior year, the company earned $3.39 EPS. The business’s revenue 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. As a group, equities research analysts anticipate that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Tuesday, October 14th will be given a $1.70 dividend. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. The PNC Financial Services Group’s dividend payout ratio is currently 46.51%.

The PNC Financial Services Group 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.