Axxcess Wealth Management LLC Has $3.95 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Axxcess Wealth Management LLC lifted its stake in The PNC Financial Services Group, Inc. (NYSE:PNC) by 6.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,502 shares of the financial services provider’s stock after acquiring an additional 1,261 shares during the period. Axxcess Wealth Management LLC’s holdings in The PNC Financial Services Group were worth $3,954,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in The PNC Financial Services Group by 1.0% in the 3rd quarter. Principal Financial Group Inc. now owns 2,275,472 shares of the financial services provider’s stock valued at $420,621,000 after buying an additional 22,271 shares during the last quarter. Claro Advisors LLC acquired a new stake in shares of The PNC Financial Services Group in the third quarter valued at about $380,000. Thrivent Financial for Lutherans increased its stake in shares of The PNC Financial Services Group by 12.7% in the third quarter. Thrivent Financial for Lutherans now owns 37,096 shares of the financial services provider’s stock worth $6,857,000 after purchasing an additional 4,186 shares during the period. Drive Wealth Management LLC acquired a new position in shares of The PNC Financial Services Group during the 3rd quarter worth about $216,000. Finally, Pathstone Holdings LLC boosted its stake in The PNC Financial Services Group by 2.2% during the 3rd quarter. Pathstone Holdings LLC now owns 68,125 shares of the financial services provider’s stock valued at $12,593,000 after purchasing an additional 1,471 shares during the period. Institutional investors own 83.53% of the company’s stock.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction on Friday, March 14th. The stock was sold at an average price of $171.15, for a total value of $212,568.30. Following the completion of the transaction, the chief executive officer now owns 567,299 shares in the company, valued at approximately $97,093,223.85. The trade was a 0.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 13,662 shares of company stock valued at $2,604,263 in the last three months. 0.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on PNC shares. Piper Sandler lifted 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 report on Tuesday, December 3rd. Truist Financial boosted their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Citigroup increased their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the company a “buy” rating in a report on Monday, November 25th. The Goldman Sachs Group boosted their price objective on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Compass Point increased their target price on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $205.00.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $173.20 on Wednesday. The stock has a market capitalization of $68.54 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.55 and a beta of 1.13. The business’s fifty day moving average price is $191.18 and its two-hundred day moving average price is $192.56. The PNC Financial Services Group, Inc. has a fifty-two week low of $143.52 and a fifty-two week high of $216.26. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the prior year, the firm earned $3.16 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Wednesday, January 15th. The PNC Financial Services Group’s dividend payout ratio (DPR) is currently 46.55%.

The PNC Financial Services Group Company Profile

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.