The PNC Financial Services Group, Inc. (NYSE:PNC - Get Free Report) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 5,027 call options on the company. This is an increase of 99% compared to the average daily volume of 2,529 call options.
The PNC Financial Services Group Price Performance
Shares of NYSE:PNC traded down $1.24 during trading hours on Friday, hitting $173.86. 4,161,391 shares of the company's stock traded hands, compared to its average volume of 2,058,637. The company's fifty day simple moving average is $165.13 and its two-hundred day simple moving average is $184.90. The company has a market cap of $68.77 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group has a 52 week low of $145.12 and a 52 week high of $216.26.
The PNC Financial Services Group (NYSE:PNC - Get Free Report) last released its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 EPS for the quarter, beating the consensus estimate of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. As a group, equities analysts anticipate that The PNC Financial Services Group will post 15.37 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's dividend payout ratio is presently 45.20%.
Insider Activity at The PNC Financial Services Group
In other news, EVP Kieran John Fallon sold 1,492 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the completion of the transaction, the executive vice president now directly owns 20,490 shares in the company, valued at approximately $3,576,734.40. This represents a 6.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William S. Demchak sold 1,242 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $171.15, for a total transaction of $212,568.30. Following the transaction, the chief executive officer now owns 567,299 shares in the company, valued at $97,093,223.85. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 16,396 shares of company stock valued at $2,747,698. Corporate insiders own 0.41% of the company's stock.
Institutional Investors Weigh In On The PNC Financial Services Group
Institutional investors and hedge funds have recently modified their holdings of the stock. Baltimore Washington Financial Advisors Inc. increased its stake in The PNC Financial Services Group by 3.1% in the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 1,680 shares of the financial services provider's stock worth $324,000 after purchasing an additional 51 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of The PNC Financial Services Group by 2.4% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,248 shares of the financial services provider's stock worth $434,000 after buying an additional 53 shares during the period. Transcend Capital Advisors LLC increased its position in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Transcend Capital Advisors LLC now owns 3,197 shares of the financial services provider's stock worth $616,000 after acquiring an additional 55 shares in the last quarter. Valmark Advisers Inc. increased its position in shares of The PNC Financial Services Group by 1.4% in the fourth quarter. Valmark Advisers Inc. now owns 4,010 shares of the financial services provider's stock worth $773,000 after acquiring an additional 56 shares in the last quarter. Finally, Gilbert & Cook Inc. raised its holdings in shares of The PNC Financial Services Group by 2.1% during the fourth quarter. Gilbert & Cook Inc. now owns 2,787 shares of the financial services provider's stock valued at $537,000 after acquiring an additional 58 shares during the period. 83.53% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have commented on PNC shares. Citigroup reduced their target price on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 24th. The Goldman Sachs Group decreased their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods dropped their target price on shares of The PNC Financial Services Group from $195.00 to $185.00 and set an "underperform" rating on the stock in a report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price objective on shares of The PNC Financial Services Group from $212.50 to $189.00 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Finally, Morgan Stanley decreased their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.67.
Check Out Our Latest Analysis on PNC
About The PNC Financial Services Group
(
Get Free Report)
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.
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