Investors Purchase Large Volume of The PNC Financial Services Group Call Options (NYSE:PNC)

The PNC Financial Services Group, Inc. (NYSE:PNC) was the target of unusually large options trading activity on Thursday. Investors bought 72,493 call options on the stock. This is an increase of approximately 2,237% compared to the typical daily volume of 3,102 call options.

PNC stock opened at $222.20 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.80 and a quick ratio of 0.80. The PNC Financial Services Group has a one year low of $141.60 and a one year high of $228.14. The stock has a market cap of $93.91 billion, a PE ratio of 16.97, a P/E/G ratio of 0.95 and a beta of 1.35. The firm has a 50 day simple moving average of $205.09 and a two-hundred day simple moving average of $197.78.

The PNC Financial Services Group (NYSE:PNC) last announced its quarterly earnings data on Thursday, October 14th. The financial services provider reported $3.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.64 by $0.11. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.05 billion. The PNC Financial Services Group had a net margin of 30.94% and a return on equity of 12.60%. The firm’s revenue was up 21.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.39 EPS. On average, research analysts expect that The PNC Financial Services Group will post 14.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, February 5th. Investors of record on Tuesday, January 18th will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, January 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.25%. The PNC Financial Services Group’s dividend payout ratio is presently 38.20%.

Several analysts have recently issued reports on PNC shares. UBS Group started coverage on shares of The PNC Financial Services Group in a research report on Thursday, December 9th. They issued a “buy” rating and a $240.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of The PNC Financial Services Group from $227.00 to $229.50 and gave the company an “overweight” rating in a research report on Thursday, January 6th. Citigroup upped their target price on shares of The PNC Financial Services Group from $215.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, December 16th. Credit Suisse Group upped their target price on shares of The PNC Financial Services Group from $195.00 to $201.00 and gave the stock a “neutral” rating in a report on Monday, October 18th. Finally, Jefferies Financial Group upped their target price on shares of The PNC Financial Services Group from $201.00 to $221.00 and gave the stock a “hold” rating in a report on Monday, October 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, The PNC Financial Services Group presently has an average rating of “Hold” and an average target price of $213.28.

In other news, EVP Kieran John Fallon sold 125 shares of the business’s stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $213.28, for a total value of $26,660.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael P. Lyons sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 14th. The shares were sold at an average price of $198.60, for a total transaction of $993,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,507 shares of company stock worth $1,745,255. Insiders own 0.30% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of The PNC Financial Services Group by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 36,603,698 shares of the financial services provider’s stock worth $6,982,520,000 after acquiring an additional 406,368 shares during the period. BlackRock Inc. boosted its position in shares of The PNC Financial Services Group by 2.2% in the 3rd quarter. BlackRock Inc. now owns 29,488,333 shares of the financial services provider’s stock worth $5,769,099,000 after purchasing an additional 631,566 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of The PNC Financial Services Group by 15.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,743,639 shares of the financial services provider’s stock worth $3,275,724,000 after purchasing an additional 2,221,691 shares in the last quarter. Capital Research Global Investors boosted its position in shares of The PNC Financial Services Group by 8.7% in the 3rd quarter. Capital Research Global Investors now owns 15,317,830 shares of the financial services provider’s stock worth $2,996,783,000 after purchasing an additional 1,226,766 shares in the last quarter. Finally, FMR LLC boosted its position in shares of The PNC Financial Services Group by 43.2% in the 2nd quarter. FMR LLC now owns 12,241,176 shares of the financial services provider’s stock worth $2,335,126,000 after purchasing an additional 3,694,020 shares in the last quarter. Institutional investors own 82.50% of the company’s stock.

The PNC Financial Services Group Company Profile

PNC Financial Services Group, Inc is a holding company, which engages in the provision of financial services. It operates through the following segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, investment management, and cash management products and services to consumer and small business customers.

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