Stock Traders Buy High Volume of Call Options on The PNC Financial Services Group (NYSE:PNC)

The PNC Financial Services Group, Inc. (NYSE:PNC) was the recipient of unusually large options trading on Tuesday. Investors bought 33,084 call options on the company. This represents an increase of approximately 1,149% compared to the typical volume of 2,648 call options.

Insider Transactions at The PNC Financial Services Group

In other The PNC Financial Services Group news, CEO William S. Demchak sold 1,242 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $192.88, for a total value of $239,556.96. Following the completion of the sale, the chief executive officer now owns 526,313 shares of the company’s stock, valued at $101,515,251.44. This trade represents a 0.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martin Pfinsgraff sold 859 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $186.12, for a total value of $159,877.08. Following the transaction, the director now directly owns 915 shares in the company, valued at approximately $170,299.80. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,272 shares of company stock worth $6,164,890. 0.42% of the stock is currently owned by company insiders.

Institutional Trading of The PNC Financial Services Group

A number of institutional investors have recently made changes to their positions in PNC. Headlands Technologies LLC purchased a new stake in shares of The PNC Financial Services Group during the second quarter worth about $92,000. DekaBank Deutsche Girozentrale grew its position in The PNC Financial Services Group by 0.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 110,410 shares of the financial services provider’s stock worth $16,567,000 after purchasing an additional 422 shares during the last quarter. Parallel Advisors LLC increased its stake in The PNC Financial Services Group by 8.4% during the 2nd quarter. Parallel Advisors LLC now owns 3,594 shares of the financial services provider’s stock valued at $559,000 after purchasing an additional 277 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of The PNC Financial Services Group by 5.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 24,146 shares of the financial services provider’s stock worth $3,754,000 after buying an additional 1,236 shares during the last quarter. Finally, WINTON GROUP Ltd lifted its stake in shares of The PNC Financial Services Group by 32.3% during the second quarter. WINTON GROUP Ltd now owns 6,453 shares of the financial services provider’s stock worth $1,003,000 after buying an additional 1,576 shares during the period. Institutional investors and hedge funds own 83.53% of the company’s stock.

The PNC Financial Services Group Stock Down 2.1 %

PNC traded down $4.17 on Thursday, hitting $196.27. The company had a trading volume of 3,234,630 shares, compared to its average volume of 2,251,998. The stock has a market capitalization of $77.87 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.77 and a beta of 1.16. The stock has a fifty day moving average price of $201.75 and a 200-day moving average price of $186.58. The PNC Financial Services Group has a 12-month low of $139.69 and a 12-month high of $216.26. 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) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $3.77 EPS for the quarter, topping the consensus estimate of $3.26 by $0.51. The PNC Financial Services Group had a net margin of 14.97% and a return on equity of 10.88%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same quarter in the previous year, the business posted $3.16 EPS. The PNC Financial Services Group’s revenue was up 3.8% on a year-over-year basis. Analysts predict that The PNC Financial Services Group will post 13.47 EPS for the current fiscal year.

The PNC Financial Services Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.40 annualized dividend and a dividend yield of 3.26%. The PNC Financial Services Group’s dividend payout ratio is presently 54.10%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PNC. Compass Point upped their price objective on The PNC Financial Services Group from $175.00 to $233.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Citigroup upped their price target on shares of The PNC Financial Services Group from $200.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Piper Sandler lifted their price objective on shares of The PNC Financial Services Group from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Barclays upped their target price on shares of The PNC Financial Services Group from $229.00 to $257.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of The PNC Financial Services Group from $180.00 to $182.00 and gave the company an “underperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, The PNC Financial Services Group presently has an average rating of “Hold” and a consensus price target of $203.29.

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.