Axxcess Wealth Management LLC Sells 14,120 Shares of The PNC Financial Services Group, Inc (NYSE:PNC)

Axxcess Wealth Management LLC trimmed its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 68.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,382 shares of the financial services provider's stock after selling 14,120 shares during the quarter. Axxcess Wealth Management LLC's holdings in The PNC Financial Services Group were worth $1,122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in shares of The PNC Financial Services Group by 32.2% during the fourth quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock worth $779,000 after buying an additional 984 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of The PNC Financial Services Group during the fourth quarter worth $37,587,000. King Luther Capital Management Corp lifted its holdings in shares of The PNC Financial Services Group by 11.2% during the fourth quarter. King Luther Capital Management Corp now owns 2,188 shares of the financial services provider's stock worth $422,000 after buying an additional 220 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of The PNC Financial Services Group by 5.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 14,277 shares of the financial services provider's stock worth $2,753,000 after buying an additional 758 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of The PNC Financial Services Group by 3.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,782 shares of the financial services provider's stock worth $4,008,000 after buying an additional 653 shares in the last quarter. 83.53% of the stock is owned by institutional investors.

Insider Activity at The PNC Financial Services Group

In related news, Director Martin Pfinsgraff bought 1,000 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, April 25th. The shares were acquired at an average cost of $158.22 per share, for a total transaction of $158,220.00. Following the completion of the acquisition, the director directly owned 2,009 shares of the company's stock, valued at approximately $317,863.98. The trade was a 99.11% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $169.75, for a total value of $210,829.50. Following the completion of the sale, the chief executive officer owned 554,879 shares in the company, valued at $94,190,710.25. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,545 shares of company stock worth $1,590,080 over the last ninety days. Insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Raymond James Financial raised The PNC Financial Services Group from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a report on Tuesday. Morgan Stanley dropped their price target on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company dropped their price target on The PNC Financial Services Group from $235.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, March 28th. Wolfe Research reaffirmed a "peer perform" rating on shares of The PNC Financial Services Group in a research note on Thursday, July 3rd. Finally, Royal Bank Of Canada dropped their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $209.11.

The PNC Financial Services Group Trading Down 0.5%

Shares of The PNC Financial Services Group stock traded down $0.97 on Friday, hitting $196.98. The stock had a trading volume of 2,642,903 shares, compared to its average volume of 2,144,533. The stock has a 50 day moving average of $179.40 and a 200 day moving average of $180.23. The PNC Financial Services Group, Inc has a twelve month low of $145.12 and a twelve month high of $216.26. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $77.92 billion, a P/E ratio of 13.91, a PEG ratio of 1.67 and a beta of 1.07.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 10.95% and a net margin of 17.68%. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.50 billion. Sell-side analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 15th will be issued a $1.70 dividend. The ex-dividend date is Tuesday, July 15th. This is a boost from The PNC Financial Services Group's previous quarterly dividend of $1.60. This represents a $6.80 annualized dividend and a yield of 3.45%. The PNC Financial Services Group's dividend payout ratio is presently 45.20%.

The PNC Financial Services Group 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.