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

Holocene Advisors LP decreased its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC) by 12.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 345,206 shares of the financial services provider’s stock after selling 48,617 shares during the quarter. Holocene Advisors LP owned 0.09% of The PNC Financial Services Group worth $63,811,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Mather Group LLC. increased its position in shares of The PNC Financial Services Group by 28.0% during the 2nd quarter. Mather Group LLC. now owns 8,002 shares of the financial services provider’s stock worth $1,293,000 after purchasing an additional 1,750 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of The PNC Financial Services Group by 35.3% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 3,336 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 870 shares in the last quarter. CWM LLC increased its position in shares of The PNC Financial Services Group by 1.8% during the 2nd quarter. CWM LLC now owns 11,427 shares of the financial services provider’s stock worth $1,777,000 after purchasing an additional 207 shares in the last quarter. Contravisory Investment Management Inc. acquired a new stake in shares of The PNC Financial Services Group during the 2nd quarter worth about $7,365,000. Finally, Simplicity Wealth LLC increased its position in shares of The PNC Financial Services Group by 14.1% during the 2nd quarter. Simplicity Wealth LLC now owns 15,742 shares of the financial services provider’s stock worth $2,448,000 after purchasing an additional 1,946 shares in the last quarter. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 1.6 %

Shares of NYSE PNC opened at $211.33 on Tuesday. The firm has a market capitalization of $83.85 billion, a PE ratio of 17.86, a price-to-earnings-growth ratio of 2.25 and a beta of 1.15. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.22. The PNC Financial Services Group, Inc. has a 1 year low of $136.40 and a 1 year high of $216.26. The firm’s 50-day moving average is $194.07 and its 200-day moving average is $176.79.

The PNC Financial Services Group (NYSE:PNC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.30 by $0.19. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The company had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the firm earned $3.60 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts expect that The PNC Financial Services Group, Inc. will post 13.45 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Wednesday, October 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.03%. The ex-dividend date was Wednesday, October 16th. The PNC Financial Services Group’s payout ratio is 54.10%.

Analyst Upgrades and Downgrades

PNC has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased 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 research report on Wednesday, October 16th. Citigroup increased their target price on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. The Goldman Sachs Group dropped their target price on shares of The PNC Financial Services Group from $189.00 to $180.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Wells Fargo & Company increased 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. Finally, Stephens increased their price objective on shares of The PNC Financial Services Group from $185.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, The PNC Financial Services Group presently has a consensus rating of “Hold” and an average price target of $189.15.

Insider Buying and Selling

In related news, Director Martin Pfinsgraff sold 859 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total transaction of $159,877.08. Following the transaction, the director now owns 915 shares of the company’s stock, valued at $170,299.80. This trade represents a 48.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William S. Demchak sold 1,242 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $183.74, for a total transaction of $228,205.08. Following the transaction, the chief executive officer now directly owns 549,733 shares in the company, valued at $101,007,941.42. The trade was a 0.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,546 shares of company stock valued at $5,345,530 in the last 90 days. 0.42% of the stock is owned by insiders.

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.