The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Sold by IAM Advisory LLC

IAM Advisory LLC cut its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,006 shares of the financial services provider’s stock after selling 99 shares during the period. IAM Advisory LLC’s holdings in The PNC Financial Services Group were worth $1,617,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PNC. Rockline Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group in the 4th quarter worth $1,825,000. KPP Advisory Services LLC purchased a new stake in The PNC Financial Services Group during the third quarter valued at about $323,000. AQR Capital Management LLC raised its stake in The PNC Financial Services Group by 144.2% during the 3rd quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock valued at $14,032,000 after purchasing an additional 67,490 shares during the period. Trust Point Inc. acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter worth $459,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in shares of The PNC Financial Services Group during the fourth quarter valued at $295,000. 83.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PNC shares. Wells Fargo & Company upped their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Bank of America boosted their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group raised their price target on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $141.00 to $155.00 in a report on Thursday, March 28th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, The PNC Financial Services Group currently has a consensus rating of “Hold” and a consensus target price of $158.43.

Insider Buying and Selling at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares of the company’s stock, valued at $545,856.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Richard Kevin Bynum sold 850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total value of $132,489.50. Following the completion of the sale, the executive vice president now directly owns 3,502 shares in the company, valued at $545,856.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 641 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares in the company, valued at approximately $87,061,400.37. The disclosure for this sale can be found here. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Performance

Shares of PNC stock traded down $0.16 during mid-day trading on Wednesday, reaching $151.74. The stock had a trading volume of 1,842,272 shares, compared to its average volume of 1,900,649. The PNC Financial Services Group, Inc. has a one year low of $109.40 and a one year high of $162.24. The firm has a market cap of $60.38 billion, a PE ratio of 12.74, a P/E/G ratio of 2.17 and a beta of 1.16. The firm’s 50 day simple moving average is $154.95 and its 200 day simple moving average is $152.74. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.42.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a net margin of 16.05% and a return on equity of 11.64%. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company earned $3.98 earnings per share. The business’s revenue was down 8.2% compared to the same quarter last year. On average, analysts forecast that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, May 5th. Investors of record on Monday, April 15th were given a dividend of $1.55 per share. The ex-dividend date was Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 4.09%. The PNC Financial Services Group’s dividend payout ratio (DPR) is presently 52.06%.

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.