OneAscent Financial Services LLC Takes $331,000 Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

OneAscent Financial Services LLC purchased a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) during the third quarter, Holdings Channel reports. The institutional investor purchased 1,791 shares of the financial services provider’s stock, valued at approximately $331,000.

Other institutional investors also recently modified their holdings 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 worth $3,662,000 after purchasing an additional 219 shares in 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 worth $12,593,000 after purchasing an additional 1,471 shares in 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 worth $491,000 after purchasing an additional 964 shares in the last quarter. Drive Wealth Management LLC purchased a new stake in The PNC Financial Services Group in the 3rd quarter worth approximately $216,000. Finally, Holistic Financial Partners lifted its stake in The PNC Financial Services Group by 3.2% in the 3rd quarter. Holistic Financial Partners now owns 2,324 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 73 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the sale, the director now owns 38,649 shares of the company’s stock, valued at $8,119,768.41. This trade represents a 27.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $208.12, for a total transaction of $258,485.04. Following the completion of the sale, the chief executive officer now directly owns 536,249 shares of the company’s stock, valued at approximately $111,604,141.88. This represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,788 shares of company stock valued at $5,535,978 in the last quarter. Insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on PNC shares. Morgan Stanley increased their target price on shares of The PNC Financial Services Group from $177.00 to $180.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 16th. Stephens increased their price target on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Evercore ISI increased their price target on shares of The PNC Financial Services Group from $212.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Compass Point lowered shares of The PNC Financial Services Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Barclays increased their price target on shares of The PNC Financial Services Group from $209.00 to $229.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Two equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $186.96.

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 P/E ratio of 17.48, a P/E/G ratio of 2.17 and a beta of 1.13. The PNC Financial Services Group, Inc. has a 52 week low of $127.08 and a 52 week high of $214.19. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s fifty day moving average is $188.73 and its 200 day moving average is $173.43.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.60 EPS. Research analysts predict that The PNC Financial Services Group, Inc. will post 13.45 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

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

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.