PNC Financial Services Group Inc (PNC) Shares Sold by Zurich Insurance Group Ltd FI
Zurich Insurance Group Ltd FI lowered its holdings in PNC Financial Services Group Inc (NYSE:PNC) by 30.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,864 shares of the financial services provider’s stock after selling 38,245 shares during the period. Zurich Insurance Group Ltd FI’s holdings in PNC Financial Services Group were worth $11,600,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Stelac Advisory Services LLC purchased a new stake in shares of PNC Financial Services Group in the first quarter valued at $102,000. Braun Bostich & Associates Inc. purchased a new stake in shares of PNC Financial Services Group during the first quarter worth $105,000. Landaas & Co. WI ADV purchased a new stake in shares of PNC Financial Services Group during the second quarter worth $147,000. Archford Capital Strategies LLC raised its holdings in shares of PNC Financial Services Group by 197.0% during the second quarter. Archford Capital Strategies LLC now owns 1,090 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 723 shares in the last quarter. Finally, McKinley Carter Wealth Services Inc. purchased a new stake in shares of PNC Financial Services Group during the first quarter worth $150,000. Institutional investors own 79.86% of the company’s stock.
Shares of NYSE:PNC opened at $140.26 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.16. PNC Financial Services Group Inc has a 1 year low of $126.45 and a 1 year high of $163.59. The firm has a market cap of $65.61 billion, a P/E ratio of 16.50, a PEG ratio of 1.28 and a beta of 0.90.
In related news, insider Michael J. Hannon sold 5,247 shares of the stock in a transaction on Tuesday, July 17th. The stock was sold at an average price of $141.38, for a total transaction of $741,820.86. Following the completion of the sale, the insider now directly owns 58,239 shares in the company, valued at $8,233,829.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Martin Pfinsgraff acquired 700 shares of the business’s stock in a transaction that occurred on Wednesday, July 18th. The shares were purchased at an average price of $142.15 per share, with a total value of $99,505.00. Following the completion of the acquisition, the director now owns 1,050 shares of the company’s stock, valued at approximately $149,257.50. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 34,247 shares of company stock valued at $4,830,351. 0.38% of the stock is owned by corporate insiders.
PNC Financial Services Group Company 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: How Short Selling Works
Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).
Receive News & Ratings for PNC Financial Services Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PNC Financial Services Group and related companies with MarketBeat.com's FREE daily email newsletter.