Stoneridge Investment Partners LLC Acquires New Shares in The PNC Financial Services Group, Inc. (NYSE:PNC)

Stoneridge Investment Partners LLC acquired a new stake in The PNC Financial Services Group, Inc. (NYSE:PNC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 5,511 shares of the financial services provider’s stock, valued at approximately $1,063,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. CWM LLC lifted its position in The PNC Financial Services Group by 14.7% during the 3rd quarter. CWM LLC now owns 13,108 shares of the financial services provider’s stock worth $2,423,000 after acquiring an additional 1,681 shares during the last quarter. Juncture Wealth Strategies LLC increased its holdings in shares of The PNC Financial Services Group by 28.4% during the 3rd quarter. Juncture Wealth Strategies LLC now owns 2,494 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 551 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of The PNC Financial Services Group by 295.1% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,813 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 2,101 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of The PNC Financial Services Group by 9.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 6,563 shares of the financial services provider’s stock worth $1,213,000 after purchasing an additional 561 shares during the period. Finally, Meyer Handelman Co. bought a new position in shares of The PNC Financial Services Group during the 3rd quarter worth about $222,000. Institutional investors and hedge funds 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 firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $189.29, for a total value of $235,098.18. Following the transaction, the chief executive officer now directly owns 530,039 shares of the company’s stock, valued at approximately $100,331,082.31. This trade represents a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew T. Feldstein sold 14,509 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $210.09, for a total transaction of $3,048,195.81. Following the completion of the transaction, the director now directly owns 38,649 shares in the company, valued at approximately $8,119,768.41. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,413 shares of company stock worth $6,037,230. Corporate insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Compass Point boosted their price objective on shares of The PNC Financial Services Group from $175.00 to $233.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wells Fargo & Company boosted their price objective on shares of The PNC Financial Services Group from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods upped their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Finally, The Goldman Sachs Group upped their target price on shares of The PNC Financial Services Group from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $205.00.

The PNC Financial Services Group Price Performance

Shares of PNC stock opened at $200.80 on Friday. The PNC Financial Services Group, Inc. has a 1 year low of $139.69 and a 1 year high of $216.26. The firm’s 50 day moving average is $198.40 and its 200-day moving average is $190.45. The firm has a market capitalization of $79.67 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.64 and a beta of 1.16. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $3.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business earned $3.16 earnings per share. The PNC Financial Services Group’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that The PNC Financial Services Group, Inc. will post 15.3 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.19%. The PNC Financial Services Group’s payout ratio is 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.