Foster & Motley Inc. Invests $263,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

Foster & Motley Inc. acquired a new position in The PNC Financial Services Group, Inc. (NYSE:PNC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 1,697 shares of the financial services provider’s stock, valued at approximately $263,000.

A number of other institutional investors have also made changes to their positions in the business. 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 worth $1,758,880,000 after purchasing an additional 893,808 shares during the period. Invesco Ltd. raised its holdings in The PNC Financial Services Group by 10.4% in the 3rd quarter. Invesco Ltd. now owns 5,164,321 shares of the financial services provider’s stock valued at $634,024,000 after acquiring an additional 484,475 shares in the last quarter. Northern Trust Corp raised its holdings in The PNC Financial Services Group by 2.0% in the 3rd quarter. Northern Trust Corp now owns 4,702,020 shares of the financial services provider’s stock valued at $577,267,000 after acquiring an additional 93,636 shares in the last quarter. Morgan Stanley raised its holdings in The PNC Financial Services Group by 1.0% in the 3rd quarter. Morgan Stanley now owns 3,858,980 shares of the financial services provider’s stock valued at $473,767,000 after acquiring an additional 36,362 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of The PNC Financial Services Group by 2.5% in the third quarter. Royal Bank of Canada now owns 3,327,229 shares of the financial services provider’s stock valued at $408,485,000 after purchasing an additional 82,406 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC opened at $158.06 on Thursday. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $162.24. The firm has a market cap of $62.88 billion, a PE ratio of 13.27, a price-to-earnings-growth 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 business has a fifty day moving average of $152.48 and a 200-day moving average of $142.88.

The PNC Financial Services Group (NYSE:PNC) last announced 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 during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the company posted $3.98 earnings per share. The firm’s quarterly revenue was down 8.2% compared to the same quarter last year. On average, equities research analysts predict that The PNC Financial Services Group, Inc. will post 12.62 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Michael J. Hannon sold 3,000 shares of The PNC Financial Services Group stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $148.82, for a total value of $446,460.00. Following the completion of 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 SEC, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company raised their target price on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. HSBC raised The PNC Financial Services Group from a “reduce” rating to a “hold” rating and raised their target price for the stock from $141.00 to $155.00 in a research report on Thursday, March 28th. 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 report on Wednesday, April 17th. 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 report on Monday, April 1st. Finally, Morgan Stanley lifted their price objective on The PNC Financial Services Group from $142.00 to $158.00 and gave the company an “underweight” rating in a report on Tuesday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $156.63.

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.