Royal Bank of Canada Increases Stake in The PNC Financial Services Group

Royal Bank of Canada increased its stake in The PNC Financial Services Group by 15.7% during the first quarter, according to a recent filing with the Securities and Exchange Commission.

The institutional investor purchased an additional 447,444 shares, bringing its total holdings to 3,293,564 shares or 0.82% of the company's stock worth $685,358,000 at the end of the most recent quarter.

This is not the only significant investment in PNC by a major financial institution; other notable holders include Vanguard Group Inc., Truist Financial Corp, and Stoneridge Investment Partners LLC, which collectively own 83.53% of the stock.