Foster & Motley Inc. Makes New Investment in The PNC Financial Services Group, Inc. (NYSE:PNC)

Foster & Motley Inc. bought a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) in the fourth quarter, HoldingsChannel reports. The fund bought 1,697 shares of the financial services provider’s stock, valued at approximately $263,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PNC. FMR LLC increased its stake in shares of The PNC Financial Services Group by 6.7% in the third quarter. FMR LLC now owns 14,326,630 shares of the financial services provider’s stock valued at $1,758,880,000 after buying an additional 893,808 shares during the period. International Assets Investment Management LLC increased its stake in shares of The PNC Financial Services Group by 15,539.2% in the fourth quarter. International Assets Investment Management LLC now owns 644,021 shares of the financial services provider’s stock valued at $99,727,000 after buying an additional 639,903 shares during the period. Invesco Ltd. increased its stake in shares of The PNC Financial Services Group by 10.4% in the third quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after buying an additional 484,475 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of The PNC Financial Services Group by 44.8% in the third quarter. Envestnet Asset Management Inc. now owns 1,541,886 shares of the financial services provider’s stock valued at $189,297,000 after buying an additional 477,367 shares during the period. Finally, Cambiar Investors LLC acquired a new stake in shares of The PNC Financial Services Group in the fourth quarter valued at about $37,314,000. Institutional investors and hedge funds own 83.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PNC shares. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price target for the company from $141.00 to $155.00 in a research note on Thursday, March 28th. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the stock a “neutral” rating in a research note on Monday, April 1st. UBS Group raised their target price on The PNC Financial Services Group from $160.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Bank of America raised their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $152.00 target price on shares of The PNC Financial Services Group in a research note on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $156.63.

Insider Activity

In related news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction 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 directly owns 36,570 shares in the company, valued at $5,442,347.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

The PNC Financial Services Group Stock Up 0.3 %

Shares of NYSE:PNC opened at $158.06 on Thursday. The business’s 50 day simple moving average is $152.48 and its two-hundred day simple moving average is $142.88. The firm has a market cap of $62.88 billion, a P/E ratio of 13.27, a PEG ratio of 1.78 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85. The PNC Financial Services Group, Inc. has a 52-week low of $109.40 and a 52-week high of $162.24.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.01. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The company had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter last year, the company earned $3.98 earnings per share. The company’s revenue for the quarter was down 8.2% on a year-over-year basis. As a group, research analysts forecast that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, May 5th. Stockholders of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.92%. The PNC Financial Services Group’s dividend payout ratio is presently 52.06%.

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.