Jefferies Financial Group Inc. grew its holdings in The PNC Financial Services Group, Inc. (NYSE:PNC - Free Report) by 307.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,210 shares of the financial services provider's stock after buying an additional 12,991 shares during the quarter. Jefferies Financial Group Inc.'s holdings in The PNC Financial Services Group were worth $3,319,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Winch Advisory Services LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. increased its position 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 worth $28,000 after purchasing an additional 140 shares in the last quarter. Albion Financial Group UT purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $30,000. Synergy Asset Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of The PNC Financial Services Group during the fourth quarter worth approximately $32,000. 83.53% of the stock is currently owned by hedge funds and other institutional investors.
The PNC Financial Services Group Trading Down 0.0%
Shares of NYSE PNC traded down $0.01 during trading on Friday, reaching $179.45. The stock had a trading volume of 2,215,742 shares, compared to its average volume of 2,044,972. 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 company has a market cap of $70.98 billion, a P/E ratio of 13.05, a PEG ratio of 1.55 and a beta of 1.06. The PNC Financial Services Group, Inc. has a fifty-two week low of $145.12 and a fifty-two week high of $216.26. The business's 50-day moving average price is $164.67 and its 200-day moving average price is $186.29.
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 (EPS) for the quarter, topping analysts' consensus estimates of $3.47 by $0.04. The company had revenue of $5.45 billion for 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, equities research analysts predict that The PNC Financial Services Group, Inc. will post 15.37 EPS for the current fiscal year.
The PNC Financial Services Group Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Wednesday, April 16th were paid a dividend of $1.60 per share. The ex-dividend date was Wednesday, April 16th. This represents a $6.40 dividend on an annualized basis and a yield of 3.57%. The PNC Financial Services Group's dividend payout ratio (DPR) is presently 45.20%.
Insiders Place Their Bets
In other The PNC Financial Services Group news, EVP Kieran John Fallon sold 1,492 shares of the company's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $174.56, for a total transaction of $260,443.52. Following the sale, the executive vice president now owns 20,490 shares in the company, valued at $3,576,734.40. This represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William S. Demchak sold 1,242 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $166.79, for a total value of $207,153.18. Following the sale, the chief executive officer now owns 557,363 shares in the company, valued at approximately $92,962,574.77. This trade represents a 0.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,396 shares of company stock worth $2,789,603 over the last three months. Company insiders own 0.41% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently commented on PNC shares. Stephens reiterated an "equal weight" rating and set a $200.00 price target on shares of The PNC Financial Services Group in a research report on Friday, January 17th. Hsbc Global Res upgraded The PNC Financial Services Group from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 31st. Morgan Stanley dropped their target price on The PNC Financial Services Group from $179.00 to $178.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Royal Bank of Canada reduced their price target on The PNC Financial Services Group from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group dropped their price objective on shares of The PNC Financial Services Group from $180.00 to $172.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $202.67.
View Our Latest Stock Report on PNC
About The PNC Financial Services Group
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Free Report)
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.
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