Stoneridge Investment Partners LLC Has $3 Million Stake in The PNC Financial Services Group, Inc $PNC

Stoneridge Investment Partners LLC lowered its stake in shares of The PNC Financial Services Group, Inc (NYSE:PNCFree Report) by 29.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,909 shares of the financial services provider’s stock after selling 6,339 shares during the quarter. The PNC Financial Services Group comprises approximately 2.1% of Stoneridge Investment Partners LLC’s investment portfolio, making the stock its 12th biggest position. Stoneridge Investment Partners LLC’s holdings in The PNC Financial Services Group were worth $2,996,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. IMG Wealth Management Inc. bought a new stake in shares of The PNC Financial Services Group during the 2nd quarter valued at $27,000. Concord Wealth Partners increased its position in shares of The PNC Financial Services Group by 144.9% in the second quarter. Concord Wealth Partners now owns 169 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 100 shares during the period. Westfuller Advisors LLC acquired a new position in The PNC Financial Services Group in the third quarter valued at about $34,000. FNY Investment Advisers LLC bought a new stake in The PNC Financial Services Group during the second quarter worth about $37,000. Finally, True Wealth Design LLC grew its stake in The PNC Financial Services Group by 1,133.3% during the second quarter. True Wealth Design LLC now owns 222 shares of the financial services provider’s stock worth $41,000 after buying an additional 204 shares in the last quarter. Institutional investors own 83.53% of the company’s stock.

The PNC Financial Services Group Trading Down 1.2%

NYSE PNC opened at $219.40 on Friday. The business has a 50 day simple moving average of $206.41 and a 200 day simple moving average of $198.21. The PNC Financial Services Group, Inc has a one year low of $145.12 and a one year high of $227.78. The stock has a market capitalization of $86.04 billion, a P/E ratio of 13.23, a P/E/G ratio of 0.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.81 and a quick ratio of 0.81.

The PNC Financial Services Group (NYSE:PNCGet Free Report) last issued its quarterly earnings results on Friday, January 16th. The financial services provider reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.23 by $0.65. The firm had revenue of $6.07 billion for the quarter, compared to analyst estimates of $5.90 billion. The PNC Financial Services Group had a return on equity of 11.87% and a net margin of 20.40%.The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.77 earnings per share. Research analysts expect that The PNC Financial Services Group, Inc will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Tuesday, January 20th will be paid a dividend of $1.70 per share. The ex-dividend date of this dividend is Tuesday, January 20th. This represents a $6.80 annualized dividend and a yield of 3.1%. The PNC Financial Services Group’s dividend payout ratio is currently 40.99%.

Key Headlines Impacting The PNC Financial Services Group

Here are the key news stories impacting The PNC Financial Services Group this week:

Analyst Ratings Changes

PNC has been the topic of several recent analyst reports. Evercore ISI raised their target price on shares of The PNC Financial Services Group from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, September 30th. Cfra Research upgraded shares of The PNC Financial Services Group to a “moderate buy” rating in a research report on Thursday, October 16th. Morgan Stanley raised their target price on The PNC Financial Services Group from $211.00 to $221.00 and gave the company an “underweight” rating in a report on Tuesday, January 20th. Royal Bank Of Canada lifted their price target on The PNC Financial Services Group from $222.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, January 20th. Finally, Barclays upped their price objective on The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Moderate Buy” and an average target price of $231.00.

View Our Latest Analysis on The PNC Financial Services Group

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, EVP Michael Duane Thomas sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $183.57, for a total value of $183,570.00. Following the completion of the sale, the executive vice president directly owned 5,802 shares in the company, valued at approximately $1,065,073.14. This trade represents a 14.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

The PNC Financial Services Group Profile

(Free Report)

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.

See Also

Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The PNC Financial Services Group, Inc (NYSE:PNCFree Report).

Institutional Ownership by Quarter for The PNC Financial Services Group (NYSE:PNC)

Receive News & Ratings for The PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.