Iams Wealth Management LLC Has $1.29 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Iams Wealth Management LLC decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,672 shares of the financial services provider’s stock after selling 582 shares during the quarter. Iams Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $1,287,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. AXA S.A. lifted its stake in The PNC Financial Services Group by 46.8% during the 2nd quarter. AXA S.A. now owns 12,125 shares of the financial services provider’s stock valued at $1,885,000 after acquiring an additional 3,865 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of The PNC Financial Services Group by 14.2% during the 2nd quarter. AQR Capital Management LLC now owns 45,448 shares of the financial services provider’s stock worth $6,983,000 after acquiring an additional 5,640 shares during the period. Ascent Group LLC increased its stake in shares of The PNC Financial Services Group by 11.3% in the second quarter. Ascent Group LLC now owns 7,594 shares of the financial services provider’s stock worth $1,181,000 after purchasing an additional 768 shares in the last quarter. NewEdge Advisors LLC raised its holdings in The PNC Financial Services Group by 31.0% during the 2nd quarter. NewEdge Advisors LLC now owns 32,794 shares of the financial services provider’s stock valued at $5,099,000 after acquiring an additional 7,765 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in The PNC Financial Services Group by 9.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 39,397 shares of the financial services provider’s stock worth $6,125,000 after purchasing an additional 3,240 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

Insider Activity

In other The PNC Financial Services Group news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction on 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 sale, the director now owns 38,649 shares in the company, valued at $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $196.17, for a total transaction of $243,643.14. Following the sale, the chief executive officer now owns 523,829 shares in the company, valued at approximately $102,759,534.93. This trade represents a 0.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,413 shares of company stock worth $6,021,569. 0.42% of the stock is owned by corporate insiders.

The PNC Financial Services Group Stock Up 0.3 %

Shares of The PNC Financial Services Group stock opened at $202.25 on Wednesday. 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 business has a 50-day moving average price of $200.14 and a 200 day moving average price of $189.26. The PNC Financial Services Group, Inc. has a fifty-two week low of $139.69 and a fifty-two week high of $216.26. The firm has a market cap of $80.25 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.59 and a beta of 1.16.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.51. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.51 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.16 EPS. On average, sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.26 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 15th will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio is 46.55%.

Analyst Ratings Changes

Several equities analysts recently commented on PNC shares. Compass Point boosted their target price on The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Wells Fargo & Company raised their price objective on The PNC Financial Services Group from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley upped their price target on shares of The PNC Financial Services Group from $199.00 to $208.00 and gave the company an “underweight” rating in a report on Friday, January 17th. Citigroup increased their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $205.00.

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.