Jefferies Financial Group Inc. Increases Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Jefferies Financial Group Inc. raised its position in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 307.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,210 shares of the financial services provider's stock after acquiring an additional 12,991 shares during the period. Jefferies Financial Group Inc.'s holdings in The PNC Financial Services Group were worth $3,319,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PNC. Richardson Financial Services Inc. grew its holdings in shares of The PNC Financial Services Group by 2,333.3% during the fourth quarter. Richardson Financial Services Inc. now owns 146 shares of the financial services provider's stock valued at $28,000 after buying an additional 140 shares during the last quarter. Synergy Asset Management LLC acquired a new stake in The PNC Financial Services Group during the 4th quarter worth about $32,000. Rialto Wealth Management LLC purchased a new stake in The PNC Financial Services Group during the 4th quarter valued at about $32,000. Whipplewood Advisors LLC acquired a new position in shares of The PNC Financial Services Group in the fourth quarter valued at about $33,000. Finally, Financial Life Planners purchased a new position in shares of The PNC Financial Services Group in the fourth quarter worth about $37,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The PNC Financial Services Group

In related news, CEO William S. Demchak sold 641 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $150.50, for a total transaction of $96,470.50. Following the completion of the sale, the chief executive officer now owns 562,291 shares in the company, valued at $84,624,795.50. This represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin Pfinsgraff bought 1,000 shares of The PNC Financial Services Group stock in a transaction dated Friday, April 25th. The stock was acquired at an average cost of $158.22 per share, with a total value of $158,220.00. Following the completion of the acquisition, the director now directly owns 2,009 shares of the company's stock, valued at approximately $317,863.98. The trade was a 99.11% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 16,396 shares of company stock worth $2,747,698. Insiders own 0.41% of the company's stock.

The PNC Financial Services Group Stock Down 0.7%

Shares of The PNC Financial Services Group stock traded down $1.24 during trading hours on Friday, reaching $173.86. 4,161,391 shares of the company were exchanged, compared to its average volume of 2,058,638. The firm has a market cap of $68.77 billion, a PE ratio of 12.64, a PEG ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.81 and a current ratio of 0.81. The PNC Financial Services Group, Inc. has a 1 year low of $145.12 and a 1 year high of $216.26. The stock's fifty day moving average is $165.07 and its 200 day moving average is $184.65.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.47 by $0.04. The PNC Financial Services Group had a return on equity of 11.12% and a net margin of 17.10%. The company had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.50 billion. As a group, equities research analysts forecast that The PNC Financial Services Group, Inc. will post 15.37 earnings per share for the current year.

The PNC Financial Services Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were issued a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 3.68%. The ex-dividend date was Wednesday, April 16th. The PNC Financial Services Group's payout ratio is currently 45.20%.

Analysts Set New Price Targets

Several analysts have recently commented on PNC shares. Truist Financial dropped their price objective on shares of The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Morgan Stanley decreased their price objective on shares of The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating on the stock in a report on Wednesday, April 16th. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a report on Monday, March 31st. Barclays dropped their price target on The PNC Financial Services Group from $257.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, TD Cowen initiated coverage on The PNC Financial Services Group in a research note on Thursday, May 15th. They set a "buy" rating and a $233.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $202.67.

The PNC Financial Services Group Company Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.