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Unusual Put Option Trade in PNC Financial Services Worth $5,665K
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On May 3, 2023 at 14:44:50 ET an unusually large $5,665.00K block of Put contracts in PNC Financial Services Group (PNC) was bought, with a strike price of $160.00 / share, expiring in 44 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 3.07 sigmas above the mean, placing it in the 99.99th percentile of all recent large trades made in PNC options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 2323 funds or institutions reporting positions in PNC Financial Services Group. This is an increase of 10 owner(s) or 0.43% in the last quarter. Average portfolio weight of all funds dedicated to PNC is 0.40%, a decrease of 1.75%. Total shares owned by institutions decreased in the last three months by 2.26% to 397,344K shares. The put/call ratio of PNC is 0.61, indicating a bullish outlook.
Analyst Price Forecast Suggests 23.17% Upside
As of April 24, 2023, the average one-year price target for PNC Financial Services Group is $146.75. The forecasts range from a low of $119.18 to a high of $195.30. The average price target represents an increase of 23.17% from its latest reported closing price of $119.14.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for PNC Financial Services Group is $23,502MM, an increase of 11.33%. The projected annual non-GAAP EPS is $16.20.
What are Other Shareholders Doing?
JGP Wealth Management holds 85K shares representing 0.02% ownership of the company. In it’s prior filing, the firm reported owning 57K shares, representing an increase of 33.11%. The firm increased its portfolio allocation in PNC by 114,768.46% over the last quarter.
Lakeview Capital Partners holds 2K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 3K shares, representing a decrease of 6.62%. The firm decreased its portfolio allocation in PNC by 64.27% over the last quarter.
FLCPX – Fidelity SAI U.S. Large Cap Index Fund holds 133K shares representing 0.03% ownership of the company. In it’s prior filing, the firm reported owning 133K shares, representing an increase of 0.04%. The firm decreased its portfolio allocation in PNC by 4.14% over the last quarter.
Exane Asset Management holds 173K shares representing 0.04% ownership of the company. In it’s prior filing, the firm reported owning 187K shares, representing a decrease of 8.02%. The firm decreased its portfolio allocation in PNC by 33.88% over the last quarter.
ICAP – InfraCap Equity Income Fund ETF holds 2K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 1K shares, representing an increase of 66.01%. The firm increased its portfolio allocation in PNC by 76.05% over the last quarter.
PNC Financial Services Group Background Information
(This description is provided by the company.)
he PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.
See all PNC Financial Services Group regulatory filings.
This article originally appeared on Fintel
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