Cigna Investments Inc. New Lowers Stake in The PNC Financial Services Group, Inc $PNC

Cigna Investments Inc. New reduced its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 3.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,923 shares of the financial services provider’s stock after selling 150 shares during the period. Cigna Investments Inc. New’s holdings in The PNC Financial Services Group were worth $731,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Saudi Central Bank purchased a new position in The PNC Financial Services Group during the 1st quarter worth $27,000. Cornerstone Planning Group LLC lifted its stake in shares of The PNC Financial Services Group by 50.8% in 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 during the period. Opal Wealth Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter worth $35,000. WPG Advisers LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter worth $36,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of The PNC Financial Services Group in the 1st quarter worth $41,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on PNC shares. Citigroup raised their target price on shares of The PNC Financial Services Group from $217.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. Piper Sandler raised their target price on shares of 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. 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 stock a “neutral” rating in a research note on Wednesday, July 2nd. Morgan Stanley raised their target price on shares of The PNC Financial Services Group from $179.00 to $186.00 and gave the stock an “underweight” rating in a research note on Thursday, July 17th. Finally, Keefe, Bruyette & Woods upgraded shares of The PNC Financial Services Group from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $185.00 to $212.00 in a research note on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, 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

Shares of PNC opened at $203.71 on Thursday. The stock has a market cap of $80.22 billion, a P/E ratio of 13.93, a PEG ratio of 1.50 and a beta of 1.11. The PNC Financial Services Group, Inc has a 12-month low of $145.12 and a 12-month high of $216.26. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average of $198.10 and a two-hundred day moving average of $181.59.

The PNC Financial Services Group (NYSE:PNC) last issued its quarterly earnings results 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 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 net margin of 18.33% and a return on equity of 11.07%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous 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, research analysts predict that The PNC Financial Services Group, Inc will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared 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 represents a $6.80 dividend on an annualized basis 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 was Tuesday, July 15th. The PNC Financial Services Group’s payout ratio is presently 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.