There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on February 21, PNC Financial Services Group 's Director, Martin Pfinsgraff, invested $62,844.00 into 500 shares of PNC, for a cost per share of $125.69. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of PNC Financial Services Group (Symbol: PNC) and achieve a cost basis 2.4% cheaper than Pfinsgraff, with shares changing hands as low as $122.72 per share. PNC Financial Services Group shares are currently trading off about 0.1% on the day. The chart below shows the one year performance of PNC shares, versus its 200 day moving average:
Looking at the chart above, PNC's low point in its 52 week range is $108.4508 per share, with $163.585 as the 52 week high point - that compares with a last trade of $122.77. By comparison, below is a table showing the prices at which PNC insider buying was recorded over the last six months:
Purchased
Insider
Title
Shares
Price/Share
Value
02/21/2019
Martin Pfinsgraff
Director
500
$125.69
$62,844.00
The current annualized dividend paid by PNC Financial Services Group is $3.8/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 01/16/2019. Below is a long-term dividend history chart for PNC, which can be of good help in judging whether the most recent dividend with approx. 3.1% annualized yield is likely to continue.
Click here to find out which 9 other dividend bargains you can buy cheaper than insiders »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
