OneAscent Financial Services LLC Buys 2,495 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

OneAscent Financial Services LLC grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 146.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,204 shares of the financial services provider's stock after acquiring an additional 2,495 shares during the period. OneAscent Financial Services LLC's holdings in The PNC Financial Services Group were worth $734,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Cornerstone Planning Group LLC boosted its holdings in shares of The PNC Financial Services Group by 50.8% during the first quarter. Cornerstone Planning Group LLC now owns 193 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 65 shares during the period. Opal Wealth Advisors LLC acquired a new stake in The PNC Financial Services Group in the first quarter worth about $35,000. REAP Financial Group LLC lifted its holdings in shares of The PNC Financial Services Group by 67.2% during the 4th quarter. REAP Financial Group LLC now owns 199 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Hoey Investments Inc. acquired a new position in shares of The PNC Financial Services Group during the 4th quarter worth approximately $39,000. Finally, True Wealth Design LLC grew its holdings in The PNC Financial Services Group by 41.5% in the 4th quarter. True Wealth Design LLC now owns 201 shares of the financial services provider's stock valued at $39,000 after buying an additional 59 shares in the last quarter. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PNC shares. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 31st. The Goldman Sachs Group boosted their price target on shares of The PNC Financial Services Group from $178.00 to $196.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Barclays lowered their target price on shares of The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods raised shares of The PNC Financial Services Group from an "underperform" rating to a "market perform" rating and upped their price objective for the company from $185.00 to $212.00 in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada lowered their price target on shares of The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $212.76.

The PNC Financial Services Group Trading Down 0.3%

Shares of PNC stock opened at $196.02 on Tuesday. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The company has a market capitalization of $77.54 billion, a P/E ratio of 13.41, a price-to-earnings-growth ratio of 1.45 and a beta of 1.07. The business's 50 day moving average is $182.39 and its two-hundred day moving average is $180.13. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.61 billion. The PNC Financial Services Group had a return on equity of 11.07% and a net margin of 18.33%. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.39 earnings per share. Equities analysts forecast that The PNC Financial Services Group, Inc will post 15.37 EPS for the current year.

The PNC Financial Services Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be given a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a yield of 3.47%. This is a positive change from The PNC Financial Services Group's previous quarterly dividend of $1.60. The ex-dividend date of this dividend is Tuesday, July 15th. The PNC Financial Services Group's payout ratio is 46.51%.

Insiders Place Their Bets

In related news, Director Martin Pfinsgraff acquired 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The stock was acquired at an average price of $158.22 per share, for a total transaction of $158,220.00. Following the transaction, the director directly owned 2,009 shares of the company's stock, valued at $317,863.98. This trade represents a 99.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $174.56, for a total value of $260,443.52. Following the sale, the executive vice president owned 20,490 shares of the company's stock, valued at approximately $3,576,734.40. The trade was a 6.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,904 shares of company stock worth $1,493,609 over the last three months. 0.41% of the stock is currently owned by company insiders.

About The PNC Financial Services Group

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.

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