OneAscent Financial Services LLC Buys New Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

OneAscent Financial Services LLC bought a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,791 shares of the financial services provider’s stock, valued at approximately $331,000.

Several other hedge funds have also bought and sold shares of the company. Caprock Group LLC lifted its stake in The PNC Financial Services Group by 1.1% in the 3rd quarter. Caprock Group LLC now owns 19,809 shares of the financial services provider’s stock valued at $3,662,000 after purchasing an additional 219 shares during the last quarter. Pathstone Holdings LLC lifted its stake in The PNC Financial Services Group by 2.2% in the 3rd quarter. Pathstone Holdings LLC now owns 68,125 shares of the financial services provider’s stock valued at $12,593,000 after purchasing an additional 1,471 shares during the last quarter. Wharton Business Group LLC lifted its stake in The PNC Financial Services Group by 57.0% in the 3rd quarter. Wharton Business Group LLC now owns 2,656 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 964 shares during the last quarter. Drive Wealth Management LLC acquired a new stake in The PNC Financial Services Group in the 3rd quarter valued at about $216,000. Finally, Holistic Financial Partners lifted its position in The PNC Financial Services Group by 3.2% during the third quarter. Holistic Financial Partners now owns 2,324 shares of the financial services provider’s stock worth $430,000 after acquiring an additional 73 shares during the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at The PNC Financial Services Group

In other news, Director Andrew T. Feldstein sold 14,509 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the transaction, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $176.15, for a total transaction of $218,778.30. Following the transaction, the chief executive officer now owns 555,943 shares in the company, valued at $97,929,359.45. This represents a 0.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,788 shares of company stock worth $5,535,978 over the last quarter. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Price Performance

PNC stock opened at $206.83 on Tuesday. The firm has a market cap of $82.07 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 2.17 and a beta of 1.13. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 12-month low of $127.08 and a 12-month high of $214.19. The company’s fifty day simple moving average is $188.73 and its 200 day simple moving average is $173.43.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.60 earnings per share. On average, analysts expect that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were issued a $1.60 dividend. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a yield of 3.09%. The PNC Financial Services Group’s payout ratio is 54.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PNC. The Goldman Sachs Group dropped their price target on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Compass Point cut shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 22nd. Barclays lifted their price objective on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Evercore ISI boosted their target price on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $186.96.

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.