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

Key Points

• Jefferies Financial Group cut its PNC stake by 45.4% in the fourth quarter, selling 4,671 shares and ending with 5,628 shares valued at about $1.175 million.
• Insider selling also stood out, with director Andrew T. Feldstein selling 45,000 shares for roughly $9.93 million, reducing his position by more than 80%.
• PNC posted solid results and income: it beat quarterly EPS estimates, revenue rose 13.1% year over year, and the company paid a $1.70 quarterly dividend, equal to a 3.1% annualized yield.

Jefferies Financial Group Inc. decreased its stake in The PNC Financial Services Group, Inc (NYSE:PNC - Free Report) by 45.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in The PNC Financial Services Group by 12.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,835 shares of the financial services provider's stock valued at $11,621,000 after purchasing an additional 6,572 shares during the last quarter. US Bancorp DE raised its position in shares of The PNC Financial Services Group by 13.4% in the third quarter. US Bancorp DE now owns 287,236 shares of the financial services provider's stock valued at $57,714,000 after buying an additional 34,009 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of The PNC Financial Services Group by 1.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,837,301 shares of the financial services provider's stock valued at $369,169,000 after buying an additional 22,325 shares in the last quarter. Savant Capital LLC raised its position in shares of The PNC Financial Services Group by 8.7% in the third quarter. Savant Capital LLC now owns 87,952 shares of the financial services provider's stock valued at $17,672,000 after buying an additional 7,064 shares in the last quarter. Finally, National Pension Service increased its stake in The PNC Financial Services Group by 2.5% in the third quarter. National Pension Service now owns 1,070,589 shares of the financial services provider's stock valued at $215,113,000 after acquiring an additional 26,305 shares during the last quarter. Institutional investors own 83.53% of the company's stock.

Insiders Place Their Bets

In other news, Director Andrew T. Feldstein sold 45,000 shares of The PNC Financial Services Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $220.57, for a total value of $9,925,650.00. Following the completion of the transaction, the director directly owned 10,749 shares of the company's stock, valued at approximately $2,370,906.93. This trade represents a 80.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.38% of the company's stock.

The PNC Financial Services Group Stock Performance

Shares of The PNC Financial Services Group stock opened at $219.94 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 1.05. The PNC Financial Services Group, Inc has a twelve month low of $170.49 and a twelve month high of $243.94. The stock has a market cap of $88.32 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 0.92 and a beta of 0.94. The company's fifty day moving average is $215.86 and its 200 day moving average is $212.99.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 15th. The financial services provider reported $4.32 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $6.21 billion. During the same quarter in the previous year, the firm posted $3.51 earnings per share. The PNC Financial Services Group's revenue for the quarter was up 13.1% on a year-over-year basis. Sell-side analysts forecast that The PNC Financial Services Group, Inc will post 18.93 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Tuesday, April 14th were issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, April 14th. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 39.51%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PNC shares. Barclays lifted 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 research note on Thursday, April 16th. Bank of America boosted their target price on shares of The PNC Financial Services Group from $260.00 to $264.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of The PNC Financial Services Group in a research note on Friday, March 27th. Oppenheimer boosted their target price on shares of The PNC Financial Services Group from $263.00 to $268.00 and gave the stock an "outperform" rating in a research note on Thursday, April 16th. Finally, Morgan Stanley boosted their price objective on shares of The PNC Financial Services Group from $263.00 to $267.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.

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