PNC Financial Services Group Inc. Decreases Position in Jefferies Financial Group Inc. (NYSE:JEF)

Key Points

• PNC Financial Services Group Inc. has decreased its ownership in Jefferies Financial Group Inc. by 6.1% during the first quarter, now holding 73,171 shares valued at approximately $3.92 million.
• Jefferies Financial Group's stock recently opened at $57.55 and has a market capitalization of $11.87 billion, with a one-year price range between $39.28 and $82.68.
• The company announced a quarterly dividend of $0.40 per share, resulting in an annualized yield of 2.8% for its shareholders.

PNC Financial Services Group Inc. reduced its stake in shares of Jefferies Financial Group Inc. (NYSE:JEF - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 73,171 shares of the financial services provider's stock after selling 4,770 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Jefferies Financial Group were worth $3,920,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of JEF. JCIC Asset Management Inc. raised its stake in shares of Jefferies Financial Group by 193.8% during the first quarter. JCIC Asset Management Inc. now owns 705 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 465 shares during the period. GAMMA Investing LLC increased its stake in Jefferies Financial Group by 123.9% during the 1st quarter. GAMMA Investing LLC now owns 1,151 shares of the financial services provider's stock worth $62,000 after buying an additional 637 shares during the period. IFP Advisors Inc lifted its holdings in Jefferies Financial Group by 87.9% in the 1st quarter. IFP Advisors Inc now owns 1,387 shares of the financial services provider's stock worth $74,000 after buying an additional 649 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Jefferies Financial Group by 105.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,525 shares of the financial services provider's stock valued at $82,000 after buying an additional 783 shares during the last quarter. Finally, Sierra Ocean LLC grew its stake in shares of Jefferies Financial Group by 824.0% during the first quarter. Sierra Ocean LLC now owns 1,848 shares of the financial services provider's stock valued at $99,000 after acquiring an additional 1,648 shares in the last quarter. 60.88% of the stock is owned by institutional investors and hedge funds.

Jefferies Financial Group Stock Performance

Shares of JEF stock opened at $57.55 on Friday. The stock has a market capitalization of $11.87 billion, a price-to-earnings ratio of 21.72 and a beta of 1.48. Jefferies Financial Group Inc. has a one year low of $39.28 and a one year high of $82.68. The company's 50-day simple moving average is $54.87 and its 200-day simple moving average is $56.46. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.05 and a current ratio of 1.05.

Jefferies Financial Group (NYSE:JEF - Get Free Report) last released its earnings results on Wednesday, June 25th. The financial services provider reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.04). The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.64 billion. Jefferies Financial Group had a return on equity of 6.59% and a net margin of 7.70%. The company's quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS. Equities analysts anticipate that Jefferies Financial Group Inc. will post 4.41 earnings per share for the current fiscal year.

Jefferies Financial Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, August 18th. Jefferies Financial Group's payout ratio is currently 60.38%.

Analysts Set New Price Targets

Several research firms recently commented on JEF. Morgan Stanley cut their price target on Jefferies Financial Group from $55.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 26th. Wall Street Zen lowered Jefferies Financial Group from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group raised their price target on shares of Jefferies Financial Group from $55.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Jefferies Financial Group presently has a consensus rating of "Hold" and an average price target of $66.00.

About Jefferies Financial Group

Jefferies Financial Group Inc operates as an investment banking and capital markets firm in the Americas, Europe, the Middle East, and the Asia-Pacific. The company operates in two segments, Investment Banking and Capital Markets, and Asset Management. It provides investment banking, advisory services with respect to mergers or acquisitions, debt financing, restructurings or recapitalizations, and private capital advisory transactions; underwriting and placement services related to corporate debt, municipal bonds, mortgage-backed and asset-backed securities, equity and equity-linked securities, and loan syndication services; and corporate lending services.

Want to see what other hedge funds are holding JEF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Jefferies Financial Group Inc. (NYSE:JEF - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.