Axxcess Wealth Management LLC Boosts Position in The PNC Financial Services Group, Inc. (NYSE:PNC)

Axxcess Wealth Management LLC boosted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 18.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,760 shares of the financial services provider’s stock after purchasing an additional 2,904 shares during the period. Axxcess Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $3,032,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PNC. Tennessee Valley Asset Management Partners bought a new position in shares of The PNC Financial Services Group in the 4th quarter worth approximately $26,000. Palisade Asset Management LLC bought a new position in The PNC Financial Services Group in the first quarter worth approximately $29,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of The PNC Financial Services Group by 350.0% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 180 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Fortis Group Advisors LLC grew its position in shares of The PNC Financial Services Group by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 200 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 100 shares during the period. Finally, Core Wealth Advisors Inc. purchased a new stake in The PNC Financial Services Group in the 4th quarter worth $31,000. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Trading Up 0.7 %

Shares of PNC traded up $1.21 during mid-day trading on Friday, reaching $181.21. 1,794,206 shares of the company’s stock traded hands, compared to its average volume of 1,928,043. The PNC Financial Services Group, Inc. has a 12 month low of $109.40 and a 12 month high of $182.51. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.83 and a quick ratio of 0.82. The stock has a market cap of $72.11 billion, a P/E ratio of 15.11, a P/E/G ratio of 2.28 and a beta of 1.15. The stock’s 50-day moving average is $159.49 and its two-hundred day moving average is $154.92.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $3.30 EPS for the quarter, beating the consensus estimate of $3.00 by $0.30. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the company posted $3.36 EPS. The PNC Financial Services Group’s quarterly revenue was up 2.2% on a year-over-year basis. Research analysts forecast that The PNC Financial Services Group, Inc. will post 13 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 15th will be paid a dividend of $1.60 per share. The ex-dividend date is Monday, July 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.53%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 53.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Evercore ISI upped their price objective on The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 17th. Morgan Stanley reduced their price objective on The PNC Financial Services Group from $167.00 to $165.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 17th. Wells Fargo & Company increased their target price on The PNC Financial Services Group from $194.00 to $204.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Citigroup boosted their price target on shares of The PNC Financial Services Group from $175.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, HSBC upgraded shares of The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the company from $141.00 to $155.00 in a research report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, The PNC Financial Services Group has a consensus rating of “Hold” and a consensus target price of $175.34.

Insider Activity at The PNC Financial Services Group

In other news, CEO William S. Demchak sold 2,404 shares of the business’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the sale, the chief executive officer now owns 564,637 shares in the company, valued at approximately $90,341,920. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the sale, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William S. Demchak sold 2,404 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $160.00, for a total value of $384,640.00. Following the completion of the transaction, the chief executive officer now owns 564,637 shares in the company, valued at approximately $90,341,920. The disclosure for this sale can be found here. Insiders sold 7,661 shares of company stock worth $1,242,250 over the last three months. 0.42% of the stock is owned by corporate 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.