Investment management firm Carillon Tower Advisors has released its Q4 2023 investor letter for the Carillon Eagle Growth & Income Fund. You can download a copy of the same here. The S&P 500 index rose 11.7% in the fourth quarter and 26.3% for the year. The yield on the 10-year Treasury note has fallen more than 70 basis points as investors increasingly believe the Federal Reserve is done raising interest rates. The Fed's core personal consumption expenditure (PCE) price index has trended modestly year over year, easing concerns about interest rates. Additionally, you can check out the fund's top five holdings to learn about the best stocks for 2023.
Carillon Eagle Growth & Income Fund featured stocks such as PNC Financial Services Group (NYSE:PNC) in its Q4 2023 Investor Letter. PNC Financial Services Group, Inc. (NYSE:PNC), headquartered in Pittsburgh, Pennsylvania, is a diversified financial services company. On March 8, 2024, PNC Financial Services Group, Inc. (NYSE: PNC) stock closed at $150.33 per share. His 1-month return for PNC Financial Services Group, Inc. (NYSE: PNC) is 0.80%, and the company's stock has increased his 15.59% in value over the past 52 weeks. PNC Financial Services Group, Inc. (NYSE:PNC) has a market capitalization of $59,802 million.
Carillon Eagle Growth & Income Fund said the following about PNC Financial Services Group, Inc. (NYSE:PNC) in its fourth quarter 2023 investor letter:
“PNC Financial Services Group Co., Ltd.” (NYSE:PNC) and JPMorgan performed well due to better inflation statistics. The market probably interpreted this as a sign that a recession was less likely to occur. Recall that historically, banks are highly cyclical stocks, and stock prices typically fall when investors predict a recession, as recessions tend to cause loan losses. ”
View of a crowded bank hall where customers are conducting financial transactions with bank staff.
PNC Financial Services Group, Inc. (NYSE:PNC) isn't on our list of 30 most popular stocks among hedge funds. According to our database, PNC Financial Services Group (NYSE:PNC) was held by 37 hedge fund portfolios at the end of the fourth quarter, down from 45 at the prior quarter.
We talked about PNC Financial Services Group, Inc. (NYSE:PNC) in a separate article and shared a list of the best regional bank dividend stocks to buy. Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q4 2023 page.
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Disclosure: None. This article was originally published on Insider Monkey.
