OneAscent Financial Services LLC Sells 82 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

OneAscent Financial Services LLC lowered its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,709 shares of the financial services provider’s stock after selling 82 shares during the quarter. OneAscent Financial Services LLC’s holdings in The PNC Financial Services Group were worth $330,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Baltimore Washington Financial Advisors Inc. lifted its stake in The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider’s stock worth $434,000 after buying an additional 53 shares in the last quarter. Transcend Capital Advisors LLC raised its position in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider’s stock worth $616,000 after buying an additional 55 shares in the last quarter. Valmark Advisers Inc. boosted its stake in The PNC Financial Services Group by 1.4% during the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider’s stock valued at $773,000 after buying an additional 56 shares during the period. Finally, Red Wave Investments LLC grew its position in The PNC Financial Services Group by 3.1% during the third quarter. Red Wave Investments LLC now owns 1,907 shares of the financial services provider’s stock worth $353,000 after buying an additional 58 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $171.15, for a total transaction of $212,568.30. Following the transaction, the chief executive officer now directly owns 567,299 shares of the company’s stock, valued at approximately $97,093,223.85. The trade was a 0.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 12,420 shares of company stock worth $2,320,739 over the last quarter. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PNC has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on The PNC Financial Services Group from $212.50 to $189.00 and set an “overweight” rating on the stock in a report on Thursday. Barclays lifted their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley boosted their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the stock an “underweight” rating in a research note on Friday, January 17th. Hsbc Global Res raised shares of The PNC Financial Services Group from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, HSBC upgraded shares of The PNC Financial Services Group from a “hold” rating to a “buy” rating and cut their target price for the stock from $206.00 to $202.00 in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $205.65.

The PNC Financial Services Group Trading Down 9.1 %

NYSE:PNC opened at $160.99 on Friday. The firm has a market capitalization of $63.71 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.55 and a beta of 1.04. The PNC Financial Services Group, Inc. has a 52 week low of $143.52 and a 52 week high of $216.26. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company has a fifty day moving average of $185.87 and a 200 day moving average of $191.86.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business posted $3.16 earnings per share. The PNC Financial Services Group’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th will be paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.98%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 46.55%.

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.