The PNC Financial Services Group, Inc $PNC Holdings Lifted by Holocene Advisors LP

Key Points

• Holocene Advisors boosted its stake in The PNC Financial Services Group by 475.6% in Q3, buying 406,176 shares to hold 491,585 shares worth about $98.8 million (≈0.13% ownership).
• PNC beat expectations with Q quarterly EPS of $4.88 vs. $4.23 and revenue of $6.07B (up 9.1% YoY), triggering multiple analyst price‑target increases and a MarketBeat consensus of "Moderate Buy" with a $234.44 target.
• PNC pays a quarterly dividend of $1.70 (annualized $6.80), yielding about 3.4% with a payout ratio near 41%, providing income support for investors.

Holocene Advisors LP raised its position in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 475.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 491,585 shares of the financial services provider's stock after purchasing an additional 406,176 shares during the quarter. Holocene Advisors LP owned about 0.13% of The PNC Financial Services Group worth $98,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PNC. Brighton Jones LLC increased its position in The PNC Financial Services Group by 32.2% in the 4th quarter. Brighton Jones LLC now owns 4,041 shares of the financial services provider's stock valued at $779,000 after acquiring an additional 984 shares during the period. Empowered Funds LLC boosted its position in The PNC Financial Services Group by 2.1% during the 1st quarter. Empowered Funds LLC now owns 8,261 shares of the financial services provider's stock worth $1,452,000 after acquiring an additional 170 shares during the period. Sivia Capital Partners LLC boosted its position in The PNC Financial Services Group by 50.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,331 shares of the financial services provider's stock worth $807,000 after acquiring an additional 1,449 shares during the period. Foundations Investment Advisors LLC grew its stake in shares of The PNC Financial Services Group by 32.9% in the second quarter. Foundations Investment Advisors LLC now owns 2,543 shares of the financial services provider's stock worth $474,000 after purchasing an additional 630 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of The PNC Financial Services Group by 7.1% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 97,015 shares of the financial services provider's stock worth $18,086,000 after purchasing an additional 6,469 shares in the last quarter. Institutional investors own 83.53% of the company's stock.

The PNC Financial Services Group Trading Down 0.8%

Shares of PNC stock opened at $200.98 on Monday. The stock has a 50-day simple moving average of $221.54 and a 200 day simple moving average of $205.28. The PNC Financial Services Group, Inc has a fifty-two week low of $145.12 and a fifty-two week high of $243.94. The stock has a market capitalization of $81.07 billion, a P/E ratio of 12.11, a P/E/G ratio of 0.84 and a beta of 0.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.90.

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

The PNC Financial Services Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Tuesday, January 20th were paid a $1.70 dividend. The ex-dividend date of this dividend was Tuesday, January 20th. This represents a $6.80 annualized dividend and a dividend yield of 3.4%. The PNC Financial Services Group's payout ratio is currently 40.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of The PNC Financial Services Group from $228.50 to $251.00 and gave the company an "overweight" rating in a research note on Monday, February 9th. TD Cowen increased their target price on shares of The PNC Financial Services Group from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday, January 20th. Oppenheimer raised their target price on shares of The PNC Financial Services Group from $268.00 to $284.00 and gave the company an "outperform" rating in a research note on Tuesday, January 20th. Keefe, Bruyette & Woods boosted their price target on shares of The PNC Financial Services Group from $228.00 to $247.00 and gave the stock a "market perform" rating in a research report on Tuesday, January 20th. Finally, Barclays upped their price target on shares of The PNC Financial Services Group from $235.00 to $271.00 and gave the stock an "overweight" rating in a research note on Monday, January 5th. Fifteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $234.44.

Insider Buying and Selling at The PNC Financial Services Group

In related news, EVP Richard Kevin Bynum sold 7,407 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $230.98, for a total transaction of $1,710,868.86. Following the completion of the sale, the executive vice president directly owned 1,942 shares of the company's stock, valued at $448,563.16. This represents a 79.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Louis Robert Cestello sold 4,279 shares of the firm's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $234.01, for a total transaction of $1,001,328.79. Following the sale, the executive vice president owned 18,867 shares of the company's stock, valued at $4,415,066.67. The trade was a 18.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 64,186 shares of company stock valued at $14,840,973 over the last quarter. Company insiders own 0.41% of the company's stock.

About The PNC Financial Services Group

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.

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