2,458 Shares in The PNC Financial Services Group, Inc $PNC Acquired by OneAscent Financial Services LLC

OneAscent Financial Services LLC purchased a new position in shares of The PNC Financial Services Group, Inc (NYSE:PNC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,458 shares of the financial services provider’s stock, valued at approximately $605,000.

Several other large investors have also modified their holdings of PNC. Cvfg LLC increased its holdings in shares of The PNC Financial Services Group by 2.5% in the 4th quarter. Cvfg LLC now owns 1,753 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 43 shares during the period. Trust Asset Management LLC boosted its stake in The PNC Financial Services Group by 1.0% during the 2nd quarter. Trust Asset Management LLC now owns 4,457 shares of the financial services provider’s stock worth $1,097,000 after purchasing an additional 43 shares during the period. Baron Wealth Management LLC boosted its stake in The PNC Financial Services Group by 3.0% during the 1st quarter. Baron Wealth Management LLC now owns 1,562 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 46 shares during the period. Atom Investors LP grew its position in The PNC Financial Services Group by 1.8% during the 4th quarter. Atom Investors LP now owns 2,534 shares of the financial services provider’s stock worth $529,000 after purchasing an additional 46 shares during the last quarter. Finally, Flavin Financial Services Inc. grew its position in The PNC Financial Services Group by 0.4% during the 4th quarter. Flavin Financial Services Inc. now owns 13,641 shares of the financial services provider’s stock worth $2,847,000 after purchasing an additional 48 shares during the last quarter. 83.53% of the stock is owned by institutional investors and hedge funds.

The PNC Financial Services Group Trading Down 1.7%

Shares of The PNC Financial Services Group stock opened at $242.26 on Friday. The company has a 50-day moving average of $248.17 and a two-hundred day moving average of $229.25. The PNC Financial Services Group, Inc has a 12-month low of $176.88 and a 12-month high of $258.96. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 1.34. The stock has a market cap of $96.65 billion, a PE ratio of 13.33, a price-to-earnings-growth ratio of 0.98 and a beta of 0.91.

The PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.39. The PNC Financial Services Group had a return on equity of 12.48% and a net margin of 21.41%.The business had revenue of $6.88 billion for the quarter, compared to analysts’ expectations of $6.51 billion. During the same quarter in the prior year, the firm posted $3.85 EPS. The company’s revenue was up 21.4% compared to the same quarter last year. On average, research analysts anticipate that The PNC Financial Services Group, Inc will post 19.25 EPS for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Monday, July 20th were given a dividend of $2.00 per share. The ex-dividend date was Monday, July 20th. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.70. This represents a $8.00 dividend on an annualized basis and a yield of 3.3%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 44.03%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of The PNC Financial Services Group from a “buy” rating to a “hold” rating and set a $265.00 target price for the company. in a report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on The PNC Financial Services Group from $264.50 to $269.50 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Truist Financial boosted their price target on The PNC Financial Services Group from $257.00 to $264.00 and gave the company a “hold” rating in a research report on Thursday, July 16th. Wells Fargo & Company boosted their price target on The PNC Financial Services Group from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Morgan Stanley upped their price objective on The PNC Financial Services Group from $267.00 to $278.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $265.73.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Stephanie Novosel sold 1,800 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $228.73, for a total value of $411,714.00. Following the sale, the executive vice president owned 3,107 shares of the company’s stock, valued at approximately $710,664.11. This represents a 36.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Duane Thomas sold 1,500 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $238.14, for a total value of $357,210.00. Following the completion of the transaction, the executive vice president owned 5,059 shares of the company’s stock, valued at approximately $1,204,750.26. This represents a 22.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 51,654 shares of company stock valued at $11,552,661 in the last three months. 0.38% of the stock is owned by company insiders.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.