LRI Investments LLC Invests $243,000 in The PNC Financial Services Group, Inc. (NYSE:PNC)

LRI Investments LLC purchased a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,538 shares of the financial services provider’s stock, valued at approximately $243,000.

A number of other institutional investors have also made changes to their positions in PNC. Capital International Investors lifted its stake in shares of The PNC Financial Services Group by 0.5% in the first quarter. Capital International Investors now owns 15,818,038 shares of the financial services provider’s stock valued at $2,556,195,000 after buying an additional 78,407 shares during the period. Norges Bank acquired a new stake in The PNC Financial Services Group during the fourth quarter worth $1,039,481,000. Franklin Resources Inc. raised its stake in shares of The PNC Financial Services Group by 165.4% in the 4th quarter. Franklin Resources Inc. now owns 4,888,327 shares of the financial services provider’s stock valued at $756,957,000 after buying an additional 3,046,226 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of The PNC Financial Services Group by 19.5% during the 4th quarter. Capital Research Global Investors now owns 4,766,157 shares of the financial services provider’s stock worth $738,039,000 after acquiring an additional 778,264 shares during the period. Finally, Putnam Investments LLC boosted its position in shares of The PNC Financial Services Group by 3.2% during the 4th quarter. Putnam Investments LLC now owns 3,672,339 shares of the financial services provider’s stock valued at $568,662,000 after acquiring an additional 114,960 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PNC. Citigroup lifted their price objective on The PNC Financial Services Group from $175.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. The Goldman Sachs Group boosted their price target on The PNC Financial Services Group from $165.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, July 17th. Barclays increased their price objective on The PNC Financial Services Group from $199.00 to $209.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. StockNews.com upgraded shares of The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Evercore ISI increased their target price on shares of The PNC Financial Services Group from $184.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $175.34.

The PNC Financial Services Group Trading Up 0.7 %

Shares of PNC stock traded up $1.21 on Friday, hitting $181.21. The stock had a trading volume of 1,824,138 shares, compared to its average volume of 2,051,447. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.36. The PNC Financial Services Group, Inc. has a twelve month low of $109.40 and a twelve month high of $182.51. The company has a fifty day moving average price of $159.91 and a two-hundred day moving average price of $155.09. The firm has a market cap of $72.11 billion, a P/E ratio of 15.21, a PEG ratio of 2.33 and a beta of 1.15.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Tuesday, July 16th. The financial services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.00 by $0.30. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.40 billion. The PNC Financial Services Group had a return on equity of 11.33% and a net margin of 15.53%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.36 earnings per share. As a group, analysts forecast that The PNC Financial Services Group, Inc. will post 13 earnings per share for the current fiscal year.

The PNC Financial Services Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 15th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.40 dividend on an annualized basis and a yield of 3.53%. This is a positive change from The PNC Financial Services Group’s previous quarterly dividend of $1.55. The PNC Financial Services Group’s payout ratio is presently 53.74%.

Insider Activity

In related news, CEO William S. Demchak sold 1,242 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $176.67, for a total value of $219,424.14. Following the sale, the chief executive officer now directly owns 562,153 shares of the company’s stock, valued at approximately $99,315,570.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $176.67, for a total transaction of $219,424.14. Following the completion of the transaction, the chief executive officer now owns 562,153 shares of the company’s stock, valued at approximately $99,315,570.51. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO William S. Demchak sold 641 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now directly owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The disclosure for this sale can be found here. Insiders sold 7,661 shares of company stock worth $1,242,250 over the last quarter. 0.42% of the stock is currently owned by company insiders.

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.