Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. The PNC Financial Services Group Inc. shares valued at $584,355 were sold by Lyons Michael P. on Aug 23. At $166.96 per share, Lyons Michael P. sold 3,500 shares. The insider’s holdings dropped to 174,651 shares worth approximately $27.67 million following the completion of this transaction.
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Also, NIBLOCK ROBERT A purchased 2,000 shares, netting a total of over 334,145 in proceeds. Following the buying of shares at $167.07 each, the insider now holds 6,063 shares.
Before that, Deborah Guild had sold 1,257 shares from its account. In a trade valued at $214,398, the Executive Vice President traded The PNC Financial Services Group Inc. shares for $170.56 each. Upon closing the transaction, the insider’s holdings decreased to 1,257 shares, worth approximately $3.7 million.
As published in a research note from Raymond James on July 07, 2022, The PNC Financial Services Group Inc. [PNC] has been rated down from an Outperform to a Mkt perform. Analysts at Barclays upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in early January. As of December 10, 2021, UBS has initiated its “Buy” rating for PNC. Earlier on December 06, 2021, Morgan Stanley downgraded its rating. Their new recommendation was “an Underweight” for PNC stock which previously was a “an Equal-weight”.
Analyzing PNC’s Price Performance
On Wednesday, The PNC Financial Services Group Inc. [NYSE: PNC] plunged -3.28% to $158.45. The stock’s lowest price that day was $158.42, but it reached a high of $164.50 in the same session. During the last five days, there has been a drop of approximately -2.44%. Over the course of the year, The PNC Financial Services Group Inc. shares have dropped approximately -20.98%. Shares of the company reached a 52-week high of $228.14 on 01/13/22 and a 52-week low of $146.39 on 07/15/22. A 50-day SMA is recorded $163.79, while a 200-day SMA reached $180.14. Nevertheless, trading volume fell to 1.63 million shares from 1.33 million shares the previous day.
Support And Resistance Levels for The PNC Financial Services Group Inc. (PNC)
According to the 24-hour chart, there is a support level at 156.41, which, if violated, would cause prices to drop to 154.38. In the upper region, resistance lies at 162.49. The next price resistance is at 166.54. RSI (Relative Strength Index) is 41.70 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.75, which suggests the price will decrease in the coming days. Percent R is at 67.15%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is The PNC Financial Services Group Inc. subject to short interest?
Stocks of The PNC Financial Services Group Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.27 million shares to 5.27 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.54 million shares. A decline of -5.12% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.21 of the overall float, the days-to-cover ratio (short ratio) decline to 2.21.
Which companies own the most shares of The PNC Financial Services Group Inc. (PNC)?
According to The Vanguard Group, Inc. filings, the company currently owns 35,581,541 shares, which is about 8.68% of the total PNC shares outstanding. The investor’s shares have appreciated by 13,523 from its previous 13-F filing of 35568018.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $3,146,533,818. SSgA Funds Management, Inc. reduced a -9.19% interest valued at $2.82 billion while Capital Research & Management Co sold a -176,423 stake. A total of 697,578 shares of The PNC Financial Services Group Inc. were sold by Wellington Management Co. LLP during the quarter, and 2,373,814 were bought by T. Rowe Price Associates, Inc. In its current portfolio, Capital Research & Management Co holds 10,971,306 shares valued at $1.73 billion.
In terms of The PNC Financial Services Group Inc. share price expectations, FactSet research, analysts set an average price target of $183.12 in the next 12 months, up nearly 10.48% from the previous closing price of $163.83. Analysts anticipate The PNC Financial Services Group Inc. stock to reach $222.00 by 2022, with the lowest price target being $156.00. In spite of this, 26 analysts ranked The PNC Financial Services Group Inc. stock as an Overweight at the end of 2022.