The stock of PNC Financial Services Group Inc (NYSE:PNC) reached all time high today, Nov, 10 and still has $132.98 target or 27.00% above today’s $104.71 share price. This indicates more upside for the $53.37B company. This technical setup was reported by Barchart.com. If the $132.98 PT is reached, the company will be worth $14.41 billion more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 2.09 million shares traded hands. PNC Financial Services Group Inc (NYSE:PNC) has risen 23.75% since April 8, 2016 and is uptrending. It has outperformed by 18.10% the S&P500.
PNC Financial Services Group Inc (NYSE:PNC) Ratings Coverage
Out of 18 analysts covering PNC Financial Services (NYSE:PNC), 5 rate it a “Buy”, 1 “Sell”, while 12 “Hold”. This means 28% are positive. PNC Financial Services has been the topic of 37 analyst reports since August 6, 2015 according to StockzIntelligence Inc. On Tuesday, August 11 the stock rating was downgraded by KBW to “Underperform”. The rating was downgraded by Atlantic Securities to “Neutral” on Monday, March 14. The company was upgraded on Thursday, October 6 by Raymond James. As per Monday, October 10, the company rating was downgraded by Nomura. Raymond James downgraded the shares of PNC in a report on Monday, May 9 to “Underperform” rating. Argus Research upgraded PNC Financial Services Group Inc (NYSE:PNC) on Monday, October 17 to “Buy” rating. The stock has “Mkt Perform” rating given by Bruyette & Woods;KBW; KBW” on Wednesday, September 2. The stock has “Neutral” rating given by Nomura on Wednesday, January 6. As per Tuesday, March 22, the company rating was initiated by Societe Generale. The firm has “Overweight” rating by Piper Jaffray given on Tuesday, November 24.
According to Zacks Investment Research, “The PNC Financial Services Group, Inc. is one of the nation’s largest diversified financial services organizations, providing regional banking, corporate banking, real estate finance, asset-based lending, wealth management, asset management and global fund services. (Company Press Release)”
Insitutional Activity: The institutional sentiment increased to 0.89 in 2016 Q2. Its up 0.04, from 0.85 in 2016Q1. The ratio is positive, as 59 funds sold all PNC Financial Services Group Inc shares owned while 337 reduced positions. 52 funds bought stakes while 299 increased positions. They now own 388.74 million shares or 0.81% less from 391.90 million shares in 2016Q1.
Btim Corp holds 0.76% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC) for 549,783 shares. Franklin Res accumulated 0.38% or 8.62M shares. First Quadrant L P Ca accumulated 0.61% or 338,226 shares. Brown Advisory Llc last reported 0.28% of its portfolio in the stock. Twin Cap Management Inc holds 0.41% or 67,590 shares in its portfolio. Moreover, Atlanta Gru has 0.59% invested in PNC Financial Services Group Inc (NYSE:PNC) for 32,447 shares. Connor Clark Lunn Mgmt holds 83,510 shares or 0.05% of its portfolio. Oakbrook Invests Ltd Limited Liability Company last reported 70,300 shares in the company. Meiji Yasuda Life Insur accumulated 0.05% or 3,680 shares. Barrett Asset Mngmt reported 1,705 shares or 0.01% of all its holdings. Private Wealth owns 42,803 shares or 1.71% of their US portfolio. Davis R M holds 3,013 shares or 0.01% of its portfolio. Winfield Associates has invested 0.01% of its portfolio in PNC Financial Services Group Inc (NYSE:PNC). Beese Fulmer Investment Mgmt has 3,707 shares for 0.09% of their US portfolio. Hsbc Public Ltd, a United Kingdom-based fund reported 391,370 shares.
Insider Transactions: Since July 21, 2016, the stock had 1 buy, and 6 selling transactions for $17.64 million net activity. Shares for $2.10 million were sold by Reilly Robert Q on Thursday, October 27. $2.38M worth of PNC Financial Services Group Inc (NYSE:PNC) was sold by HANNON MICHAEL J on Monday, October 31. HESSE DANIEL bought 500 shares worth $41,220. DEMCHAK WILLIAM S sold $7.86 million worth of PNC Financial Services Group Inc (NYSE:PNC) on Thursday, October 27. On Friday, October 21 Rockey Joseph E sold $1.52 million worth of the stock or 16,400 shares. Shares for $953,168 were sold by Kozich Gregory H on Monday, October 31.
More news for PNC Financial Services Group Inc (NYSE:PNC) were recently published by: Nasdaq.com, which released: “Earnings Reaction History: PNC Financial Services Group Inc., 40.0% Follow …” on October 14, 2016. Forbes.com‘s article titled: “Ex-Dividend Reminder: PNC Financial Services Group, BankUnited and Clarcor” and published on October 11, 2016 is yet another important article.
PNC Company Profile
The PNC Financial Services Group, Inc. (PNC), incorporated on January 19, 1983, is a diversified financial services firm in the United States. The Firm has businesses engaged in retail banking, corporate and institutional banking, asset management and residential mortgage banking, providing its services and products nationally, as well as other services and products in its primary geographic markets located in Pennsylvania, Ohio, New Jersey, Michigan, Illinois, Maryland, Indiana, Florida, North Carolina, Kentucky, Washington, D.C., Delaware, Virginia, Alabama, Georgia, Missouri, Wisconsin and South Carolina. It also provides various services and products internationally. The Firm operates through six divisions: Retail Banking, Corporate & Institutional Banking, Asset Management Group, Residential Mortgage Banking, BlackRock and Non-Strategic Assets Portfolio.
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