Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently decreased stock shares of PNC Financial Services Group Inc. (NYSE:PNC).
SEC data indicate these insiders have sold PNC Financial Services Group Inc.’s stock since 06/30/2011:
- Guyaux Joseph C: act as President. On 10/31/2011, sold 20,000 shares, worth $1,096,800.
- Whitford Thomas K: act as Vice Chairman. On 07/25/2011, sold 10,000 shares, worth $562,200.
- Hannon Michael J: act as Executive Vice President. On 10/24/2011, sold 5,000 shares, worth $273,200.
SEC data indicate that these institutions significantly reduced their stock shares of PNC Financial Services Group Inc. in Q3 2011:
- CITADEL ADVISORS LLC: On 06/30/2011, held 3,691,577 shares, worth $217,212,391. On 09/30/2011, held 0 shares.
- EPOCH INVESTMENT PARTNERS INC.: On 06/30/2011, held 3,108,146 shares, worth $182,883,311. On 09/30/2011, held 0 shares.
- KING STREET CAPITAL MANAGEMENT, L.P.: On 06/30/2011, held 600,000 shares, worth $35,304,000. On 09/30/2011, held 0 shares.
- VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P.: On 06/30/2011, held 552,842 shares, worth $32,529,223. On 09/30/2011, held 0 shares.
About the company: PNC Financial Services Group, Inc. is a diversified financial services organization. The Company provides regional banking, wholesale banking, and asset management services nationally and in the Company’s primary regional markets.
Competitors to Watch: Wells Fargo & Company (NYSE:WFC), Bank of America Corp. (NYSE:BAC), SunTrust Banks, Inc. (NYSE:STI), JPMorgan Chase & Co. (NYSE:JPM), KeyCorp (NYSE:KEY), Citigroup Inc. (NYSE:C), Regions Financial Corp. (NYSE:RF), BB&T Corporation (NYSE:BBT) and First Horizon National Corp. (NYSE:FHN).
(Note: Data regarding PNC Financial Services Group Inc.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)
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