Jefferies Financial Group Inc. Sells 4,671 Shares of The PNC Financial Services Group, Inc $PNC

Jefferies Financial Group Inc. cut its holdings in The PNC Financial Services Group, Inc (NYSE:PNC) by 45.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,628 shares of the financial services provider’s stock after selling 4,671 shares during the period. Jefferies Financial Group Inc.’s holdings in The PNC Financial Services Group were worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PNC. Viking Global Investors LP raised its position in shares of The PNC Financial Services Group by 234.9% in the 3rd quarter. Viking Global Investors LP now owns 7,956,766 shares of the financial services provider’s stock worth $1,598,753,000 after acquiring an additional 5,581,102 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of The PNC Financial Services Group by 50.1% during the third quarter. Wellington Management Group LLP now owns 3,485,320 shares of the financial services provider’s stock valued at $700,305,000 after purchasing an additional 1,162,964 shares during the period. AQR Capital Management LLC raised its holdings in shares of The PNC Financial Services Group by 32.6% during the third quarter. AQR Capital Management LLC now owns 4,425,905 shares of the financial services provider’s stock valued at $889,297,000 after purchasing an additional 1,086,941 shares during the period. Capital International Investors raised its holdings in shares of The PNC Financial Services Group by 6.0% during the third quarter. Capital International Investors now owns 10,835,687 shares of the financial services provider’s stock valued at $2,177,318,000 after purchasing an additional 609,755 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of The PNC Financial Services Group during the fourth quarter valued at about $123,940,000. 83.53% of the stock is owned by institutional investors.

The PNC Financial Services Group Trading Down 0.4%

PNC opened at $219.94 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.83 and a quick ratio of 0.82. The PNC Financial Services Group, Inc has a fifty-two week low of $170.49 and a fifty-two week high of $243.94. The firm has a market capitalization of $88.32 billion, a PE ratio of 12.78, a P/E/G ratio of 0.92 and a beta of 0.94. The company’s 50-day moving average is $215.86 and its 200 day moving average is $212.99.

The PNC Financial Services Group (NYSE:PNC) last posted its earnings results on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.92 by $0.40. The PNC Financial Services Group had a net margin of 20.89% and a return on equity of 12.10%. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.21 billion. During the same quarter in the prior year, the business posted $3.51 EPS. The firm’s revenue was up 13.1% compared to the same quarter last year. As a group, research analysts predict that The PNC Financial Services Group, Inc will post 18.93 earnings per share for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Tuesday, April 14th were issued a $1.70 dividend. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group’s dividend payout ratio is currently 39.51%.

Insider Buying and Selling at The PNC Financial Services Group

In related news, Director Andrew T. Feldstein sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $220.57, for a total value of $9,925,650.00. Following the sale, the director owned 10,749 shares in the company, valued at $2,370,906.93. This represents a 80.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PNC. Barclays upped their price objective on shares of The PNC Financial Services Group from $271.00 to $277.00 and gave the company an “overweight” rating in a report on Thursday, April 16th. Royal Bank Of Canada reiterated an “outperform” rating and set a $235.00 price objective on shares of The PNC Financial Services Group in a report on Wednesday, April 15th. Bank of America upped their price objective on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Keefe, Bruyette & Woods upped their price objective on shares of The PNC Financial Services Group from $247.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, April 16th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of The PNC Financial Services Group in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.11.

About The PNC Financial Services Group

The PNC Financial Services Group, Inc is a diversified financial services company headquartered in Pittsburgh, Pennsylvania, offering a broad range of banking, lending, investment and wealth management services. PNC operates a national banking franchise with a significant retail branch network and dedicated capabilities for commercial, institutional and government clients. Its services are designed to serve individuals, small businesses, corporations and public sector entities across the United States.

PNC’s core business activities include consumer and business banking, residential mortgage lending, corporate and institutional banking, asset management and wealth advisory services.