The PNC Financial Services Group, Inc $PNC Position Boosted by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC grew its holdings in shares of The PNC Financial Services Group, Inc (NYSE:PNC) by 59.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,727 shares of the financial services provider’s stock after buying an additional 8,818 shares during the period. The PNC Financial Services Group accounts for 3.4% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 7th biggest position. Stoneridge Investment Partners LLC’s holdings in The PNC Financial Services Group were worth $4,953,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PNC. Mirae Asset Global Investments Co. Ltd. grew its stake in The PNC Financial Services Group by 12.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider’s stock worth $11,621,000 after purchasing an additional 6,572 shares during the period. US Bancorp DE grew its stake in The PNC Financial Services Group by 13.4% in the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider’s stock worth $57,714,000 after purchasing an additional 34,009 shares during the period. Envestnet Asset Management Inc. grew its stake in The PNC Financial Services Group by 1.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider’s stock worth $369,169,000 after purchasing an additional 22,325 shares during the period. Savant Capital LLC grew its stake in The PNC Financial Services Group by 8.7% in the third quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider’s stock worth $17,672,000 after purchasing an additional 7,064 shares during the period. Finally, National Pension Service grew its stake in The PNC Financial Services Group by 2.5% in the third quarter. National Pension Service now owns 1,070,589 shares of the financial services provider’s stock worth $215,113,000 after purchasing an additional 26,305 shares during the period. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Trading Down 0.1%

NYSE PNC opened at $213.17 on Friday. The PNC Financial Services Group, Inc has a 12 month low of $169.32 and a 12 month high of $243.94. The stock has a market cap of $85.60 billion, a P/E ratio of 12.39, a P/E/G ratio of 0.88 and a beta of 0.94. The stock’s fifty day moving average price is $213.47 and its 200-day moving average price is $210.57. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 1.05.

The PNC Financial Services Group (NYSE:PNC) last released its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a return on equity of 12.10% and a net margin of 20.89%.The firm had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the prior year, the firm posted $3.51 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities analysts forecast that The PNC Financial Services Group, Inc will post 18.93 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 Tuesday, May 5th. Stockholders of record on Tuesday, April 14th were paid a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Insider Buying and Selling

In other news, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $230.98, for a total value of $1,710,868.86. Following the sale, the executive vice president directly owned 1,942 shares of the company’s stock, valued at approximately $448,563.16. This represents a 79.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William S. Demchak sold 50,000 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $230.88, for a total value of $11,544,000.00. Following the sale, the chief executive officer directly owned 554,274 shares in the company, valued at $127,970,781.12. This trade represents a 8.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 64,186 shares of company stock valued at $14,840,973. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

PNC has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Barclays upped their price target on The PNC Financial Services Group from $271.00 to $277.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Morgan Stanley upped their price target on The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $235.00 price target on shares of The PNC Financial Services Group in a research note on Wednesday, April 15th. Finally, Citigroup upped their price target on The PNC Financial Services Group from $245.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.11.

The PNC Financial Services Group Company Profile

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.