PNC Financial Services Group Inc (PNC) Shares Sold by Soros Fund Management LLC
Soros Fund Management LLC decreased its stake in shares of PNC Financial Services Group Inc (NYSE:PNC) by 20.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 116,901 shares of the financial services provider’s stock after selling 29,484 shares during the period. Soros Fund Management LLC’s holdings in PNC Financial Services Group were worth $15,793,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Stelac Advisory Services LLC acquired a new position in PNC Financial Services Group during the 1st quarter valued at about $102,000. Braun Bostich & Associates Inc. acquired a new position in PNC Financial Services Group during the 1st quarter valued at about $105,000. McKinley Carter Wealth Services Inc. acquired a new position in PNC Financial Services Group during the 1st quarter valued at about $150,000. Landaas & Co. WI ADV acquired a new position in PNC Financial Services Group during the 2nd quarter valued at about $147,000. Finally, Archford Capital Strategies LLC increased its stake in PNC Financial Services Group by 197.0% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock valued at $147,000 after buying an additional 723 shares during the period. 79.86% of the stock is currently owned by hedge funds and other institutional investors.
PNC Financial Services Group stock opened at $141.49 on Thursday. The stock has a market cap of $66.50 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 1.30 and a beta of 0.90. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.90 and a current ratio of 0.91. PNC Financial Services Group Inc has a 52 week low of $125.72 and a 52 week high of $163.59.
In other news, insider Michael J. Hannon sold 5,247 shares of PNC Financial Services Group stock in a transaction that occurred on Tuesday, July 17th. The shares were sold at an average price of $141.38, for a total value of $741,820.86. Following the transaction, the insider now owns 58,239 shares of the company’s stock, valued at approximately $8,233,829.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Pfinsgraff acquired 700 shares of the stock in a transaction dated Wednesday, July 18th. The stock was acquired at an average cost of $142.15 per share, for a total transaction of $99,505.00. Following the purchase, the director now directly owns 1,050 shares in the company, valued at $149,257.50. The disclosure for this purchase can be found here. Insiders sold a total of 34,247 shares of company stock worth $4,830,351 in the last ninety days. Corporate insiders own 0.38% of the company’s stock.
PNC Financial Services Group Profile
The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States and internationally. The company operates through four segments: Retail Banking, Corporate & Institutional Banking, Asset Management Group, and BlackRock. The Retail Banking segment offers deposit, lending, brokerage, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.
Further Reading: Earnings Per Share
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