Holocene Advisors LP Has $63.81 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Holocene Advisors LP trimmed its stake in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 12.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 345,206 shares of the financial services provider's stock after selling 48,617 shares during the period. Holocene Advisors LP owned about 0.09% of The PNC Financial Services Group worth $63,811,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. ORG Partners LLC lifted its stake in The PNC Financial Services Group by 203.7% in the 2nd quarter. ORG Partners LLC now owns 164 shares of the financial services provider's stock worth $26,000 after acquiring an additional 110 shares in the last quarter. Valley Wealth Managers Inc. raised its stake in shares of The PNC Financial Services Group by 20,000.0% during the 3rd quarter. Valley Wealth Managers Inc. now owns 201 shares of the financial services provider's stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Y.D. More Investments Ltd purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth about $33,000. GPS Wealth Strategies Group LLC purchased a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth about $38,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of The PNC Financial Services Group during the 3rd quarter worth about $51,000. 83.53% of the stock is owned by hedge funds and other institutional investors.

The PNC Financial Services Group Stock Performance

Shares of NYSE:PNC traded down $2.16 during trading on Tuesday, hitting $209.20. 788,565 shares of the stock were exchanged, compared to its average volume of 1,869,255. The PNC Financial Services Group, Inc. has a 1-year low of $136.40 and a 1-year high of $216.26. The company has a market capitalization of $83.01 billion, a price-to-earnings ratio of 17.86, a price-to-earnings-growth ratio of 2.25 and a beta of 1.15. The company's fifty day simple moving average is $194.07 and its 200-day simple moving average is $176.79. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.81 and a current ratio of 0.81.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 EPS for the quarter, topping the consensus estimate of $3.30 by $0.19. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.39 billion. The PNC Financial Services Group had a return on equity of 10.88% and a net margin of 14.97%. The PNC Financial Services Group's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $3.60 EPS. Sell-side analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were given a dividend of $1.60 per share. The ex-dividend date was Wednesday, October 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.06%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 54.10%.

Insider Buying and Selling

In other news, Director Martin Pfinsgraff sold 859 shares of the business's stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $186.12, for a total transaction of $159,877.08. Following the completion of the sale, the director now owns 915 shares in the company, valued at $170,299.80. The trade was a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the business's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $216.01, for a total value of $268,284.42. Following the sale, the chief executive officer now owns 533,765 shares of the company's stock, valued at approximately $115,298,577.65. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,788 shares of company stock worth $5,613,814 in the last 90 days. 0.42% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Compass Point downgraded The PNC Financial Services Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 22nd. Stephens raised their price target on The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 16th. Citigroup increased their price objective on The PNC Financial Services Group from $200.00 to $235.00 and gave the company a "buy" rating in a report on Monday, November 25th. Morgan Stanley increased their price objective on The PNC Financial Services Group from $177.00 to $180.00 and gave the company an "underweight" rating in a report on Wednesday, October 16th. Finally, Piper Sandler increased their price objective on The PNC Financial Services Group from $200.00 to $220.00 and gave the company a "neutral" rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $193.96.

About The PNC Financial Services Group

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.