Iams Wealth Management LLC Has $1.14 Million Stock Holdings in The PNC Financial Services Group, Inc. (NYSE:PNC)

Iams Wealth Management LLC trimmed its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 8.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,026 shares of the financial services provider’s stock after selling 684 shares during the quarter. Iams Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $1,135,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Steph & Co. raised its holdings in The PNC Financial Services Group by 1.8% during the 4th quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock worth $576,000 after purchasing an additional 67 shares during the last quarter. Bangor Savings Bank increased its stake in shares of The PNC Financial Services Group by 1.2% in the 4th quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock valued at $888,000 after acquiring an additional 69 shares during the last quarter. Triangle Securities Wealth Management increased its stake in shares of The PNC Financial Services Group by 1.8% in the 1st quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock valued at $649,000 after acquiring an additional 70 shares during the last quarter. Cooper Financial Group increased its stake in shares of The PNC Financial Services Group by 1.7% in the 1st quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock valued at $685,000 after acquiring an additional 70 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC increased its stake in shares of The PNC Financial Services Group by 1.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,972 shares of the financial services provider’s stock valued at $804,000 after acquiring an additional 74 shares during the last quarter. 83.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

PNC has been the subject of several research analyst reports. The Goldman Sachs Group boosted their price objective on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and upped their price target for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. Jefferies Financial Group reduced their price target on The PNC Financial Services Group from $171.00 to $162.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $152.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 17th. Finally, Evercore ISI increased their price objective on The PNC Financial Services Group from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $158.43.

Insider Activity

In other news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $153.08, for a total value of $98,124.28. Following the completion of the sale, the chief executive officer now directly owns 567,682 shares in the company, valued at $86,900,760.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Richard Kevin Bynum sold 850 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $155.87, for a total value of $132,489.50. Following the sale, the executive vice president now owns 3,502 shares of the company’s stock, valued at approximately $545,856.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,132 shares of company stock valued at $328,809. 0.42% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Price Performance

NYSE:PNC traded up $0.81 during trading hours on Tuesday, hitting $156.95. The company’s stock had a trading volume of 214,583 shares, compared to its average volume of 1,884,063. The stock has a fifty day simple moving average of $155.18 and a 200-day simple moving average of $152.96. The company has a market capitalization of $62.45 billion, a P/E ratio of 13.11, a PEG ratio of 2.22 and a beta of 1.15. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.85 and a quick ratio of 0.85. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24.

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

The PNC Financial Services Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Stockholders of record on Monday, April 15th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s payout ratio is 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.