Jefferies Financial Group Inc. Buys 12,991 Shares of The PNC Financial Services Group, Inc. (NYSE:PNC)

Jefferies Financial Group Inc. boosted its holdings in shares of The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 307.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,210 shares of the financial services provider's stock after purchasing 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 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in The PNC Financial Services Group by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 37,717,367 shares of the financial services provider's stock valued at $7,273,794,000 after acquiring an additional 268,827 shares in the last quarter. Franklin Resources Inc. boosted its position in The PNC Financial Services Group by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 10,835,480 shares of the financial services provider's stock valued at $2,089,622,000 after acquiring an additional 549,278 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in The PNC Financial Services Group by 10.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,538,310 shares of the financial services provider's stock valued at $1,453,763,000 after acquiring an additional 726,115 shares in the last quarter. Norges Bank bought a new stake in shares of The PNC Financial Services Group in the 4th quarter worth approximately $1,352,151,000. Finally, Northern Trust Corp boosted its position in shares of The PNC Financial Services Group by 14.9% in the 4th quarter. Northern Trust Corp now owns 4,695,514 shares of the financial services provider's stock worth $905,530,000 after purchasing an additional 608,375 shares in the last quarter. Hedge funds and other institutional investors own 83.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PNC. Truist Financial dropped their price target on The PNC Financial Services Group from $208.00 to $189.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Hsbc Global Res raised The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Citigroup dropped their price target on The PNC Financial Services Group from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. HSBC raised The PNC Financial Services Group from a "hold" rating to a "buy" rating and dropped their price target for the stock from $206.00 to $202.00 in a research report on Monday, March 31st. Finally, The Goldman Sachs Group dropped their price target on The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $202.67.

The PNC Financial Services Group Stock Performance

PNC traded down $0.01 during mid-day trading on Friday, reaching $179.45. 2,215,742 shares of the company traded hands, compared to its average volume of 2,050,969. The stock has a market capitalization of $70.98 billion, a P/E ratio of 13.05, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.13. The company's fifty day moving average price is $164.86 and its 200-day moving average price is $186.19. The PNC Financial Services Group, Inc. has a 52-week low of $145.12 and a 52-week high of $216.26.

The PNC Financial Services Group (NYSE:PNC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.47 by $0.04. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.50 billion. The PNC Financial Services Group had a net margin of 17.10% and a return on equity of 11.12%. On average, sell-side analysts expect that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current year.

The PNC Financial Services Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Wednesday, April 16th were paid a $1.60 dividend. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 annualized dividend and a dividend yield of 3.57%. The PNC Financial Services Group's dividend payout ratio (DPR) is 45.20%.

Insider Transactions at The PNC Financial Services Group

In other news, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $174.56, for a total value of $260,443.52. Following the completion of the sale, the executive vice president now directly owns 20,490 shares in the company, valued at $3,576,734.40. This represents a 6.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $192.45, for a total value of $239,022.90. Following the completion of the sale, the chief executive officer now owns 571,025 shares of the company's stock, valued at $109,893,761.25. This trade represents a 0.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,396 shares of company stock worth $2,789,603 in the last three months. Corporate insiders own 0.41% of the company's stock.

About The PNC Financial Services Group

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.