IAM Advisory LLC Sells 115 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

IAM Advisory LLC reduced its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,954 shares of the financial services provider’s stock after selling 115 shares during the quarter. IAM Advisory LLC’s holdings in The PNC Financial Services Group were worth $1,920,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Smith Salley Wealth Management increased its holdings in The PNC Financial Services Group by 0.9% during the 4th quarter. Smith Salley Wealth Management now owns 63,008 shares of the financial services provider’s stock worth $12,151,000 after purchasing an additional 553 shares during the period. Financial Management Professionals Inc. boosted its stake in shares of The PNC Financial Services Group by 13.8% during the fourth quarter. Financial Management Professionals Inc. now owns 2,780 shares of the financial services provider’s stock valued at $536,000 after purchasing an additional 337 shares in the last quarter. Ameritas Advisory Services LLC raised its stake in The PNC Financial Services Group by 73.7% in the fourth quarter. Ameritas Advisory Services LLC now owns 3,889 shares of the financial services provider’s stock worth $750,000 after buying an additional 1,650 shares in the last quarter. HB Wealth Management LLC lifted its holdings in The PNC Financial Services Group by 13.7% during the fourth quarter. HB Wealth Management LLC now owns 43,056 shares of the financial services provider’s stock worth $8,303,000 after buying an additional 5,182 shares during the period. Finally, Premier Path Wealth Partners LLC increased its holdings in shares of The PNC Financial Services Group by 25.9% in the 4th quarter. Premier Path Wealth Partners LLC now owns 4,702 shares of the financial services provider’s stock valued at $907,000 after acquiring an additional 967 shares during the period. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Andrew T. Feldstein sold 14,509 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total value of $3,048,195.81. Following the completion of the sale, the director now owns 38,649 shares in the company, valued at approximately $8,119,768.41. This trade represents a 27.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $190.27, for a total value of $236,315.34. Following the transaction, the chief executive officer now owns 544,765 shares in the company, valued at $103,652,436.55. This trade represents a 0.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,030 shares of company stock worth $5,928,202. Company insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 0.9 %

NYSE PNC opened at $198.36 on Friday. The PNC Financial Services Group, Inc. has a one year low of $139.69 and a one year high of $216.26. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81. The business has a fifty day moving average price of $201.40 and a 200 day moving average price of $187.03. The company has a market cap of $78.71 billion, a P/E ratio of 16.77, a P/E/G ratio of 1.77 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 EPS for the quarter, topping analysts’ consensus estimates of $3.26 by $0.51. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter last year, the business posted $3.16 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Research analysts anticipate that The PNC Financial Services Group, Inc. will post 13.47 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Wednesday, January 15th. The PNC Financial Services Group’s payout ratio is presently 54.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PNC shares. Keefe, Bruyette & Woods boosted their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an “underperform” rating in a report on Wednesday, October 16th. Stephens restated an “equal weight” rating and issued a $200.00 target price on shares of The PNC Financial Services Group in a research note on Friday. Wells Fargo & Company upped their price target on The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Piper Sandler boosted their price target on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $205.00.

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.