The PNC Financial Services Group, Inc. (NYSE:PNC) Shares Purchased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC raised its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC) by 22.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,856 shares of the financial services provider’s stock after buying an additional 2,862 shares during the period. Axxcess Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $2,455,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rockline Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at approximately $1,825,000. KPP Advisory Services LLC acquired a new position in The PNC Financial Services Group in the third quarter worth approximately $323,000. AQR Capital Management LLC grew its position in The PNC Financial Services Group by 144.2% in the third quarter. AQR Capital Management LLC now owns 114,296 shares of the financial services provider’s stock worth $14,032,000 after buying an additional 67,490 shares during the last quarter. Trust Point Inc. acquired a new position in The PNC Financial Services Group in the fourth quarter worth approximately $459,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in The PNC Financial Services Group during the 4th quarter worth about $295,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Insider Activity

In other news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $148.82, for a total transaction of $446,460.00. Following the sale, the executive vice president now owns 36,570 shares of the company’s stock, valued at approximately $5,442,347.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by company insiders.

The PNC Financial Services Group Stock Performance

PNC stock traded up $0.54 during mid-day trading on Friday, reaching $156.22. 1,141,551 shares of the stock traded hands, compared to its average volume of 1,722,543. The firm has a market capitalization of $62.15 billion, a PE ratio of 13.12, a P/E/G ratio of 1.76 and a beta of 1.16. The business has a 50-day moving average of $153.58 and a two-hundred day moving average of $144.41. The PNC Financial Services Group, Inc. has a 52 week low of $109.40 and a 52 week high of $162.24. 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 issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $3.09 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.98 EPS. As a group, equities analysts predict that The PNC Financial Services Group, Inc. will post 12.64 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 annualized dividend and a dividend yield of 3.97%. The PNC Financial Services Group’s payout ratio is 52.06%.

Analyst Ratings Changes

Several brokerages recently commented on PNC. Evercore ISI reduced their price target on shares of The PNC Financial Services Group from $184.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $152.00 price target on shares of The PNC Financial Services Group in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their target price on The PNC Financial Services Group from $163.50 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday. Morgan Stanley raised their price target on shares of The PNC Financial Services Group from $142.00 to $158.00 and gave the stock an “underweight” rating in a report on Tuesday, January 30th. Finally, UBS Group increased their target price on shares of The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $157.02.

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.