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

Stoneridge Investment Partners LLC bought a new stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,511 shares of the financial services provider's stock, valued at approximately $1,063,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNC. Winch Advisory Services LLC acquired a new stake in The PNC Financial Services Group in the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. lifted its holdings in shares of The PNC Financial Services Group by 2,333.3% in the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after buying an additional 140 shares during the period. Albion Financial Group UT bought a new position in The PNC Financial Services Group during the fourth quarter valued at about $30,000. Synergy Asset Management LLC acquired a new position in The PNC Financial Services Group during the fourth quarter worth about $32,000. Finally, Valley Wealth Managers Inc. raised its position in The PNC Financial Services Group by 20,000.0% in the third quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock worth $37,000 after acquiring an additional 200 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $202.11, for a total transaction of $251,020.62. Following the completion of the sale, the chief executive officer now directly owns 522,587 shares in the company, valued at $105,620,058.57. This represents a 0.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 14,904 shares of company stock worth $2,989,034. 0.42% of the stock is currently owned by insiders.

The PNC Financial Services Group Stock Down 1.8 %

PNC stock traded down $3.68 during trading hours on Wednesday, hitting $195.54. The company's stock had a trading volume of 1,774,510 shares, compared to its average volume of 2,236,208. The stock has a 50 day moving average price of $197.92 and a two-hundred day moving average price of $190.87. The PNC Financial Services Group, Inc. has a 12 month low of $139.69 and a 12 month high of $216.26. The company has a market capitalization of $77.59 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $5.57 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same period in the prior year, the company posted $3.16 earnings per share. The PNC Financial Services Group's revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts expect that The PNC Financial Services Group, Inc. will post 15.3 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Wednesday, January 15th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Wednesday, January 15th. The PNC Financial Services Group's payout ratio is 46.55%.

Analyst Upgrades and Downgrades

PNC has been the subject of several research reports. Stephens restated an "equal weight" rating and set a $200.00 price objective on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Keefe, Bruyette & Woods raised their target price on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the stock an "underperform" rating in a report on Wednesday, October 16th. Compass Point upped their price target on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Piper Sandler raised their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Truist Financial raised their target price on shares of The PNC Financial Services Group from $215.00 to $216.00 and gave the stock a "hold" rating in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $205.00.

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.