PNC Financial Services Group Inc. Lowers Stake in Strategic Education, Inc. (NASDAQ:STRA)

PNC Financial Services Group Inc. (PNC) has recently announced that it has lowered its stake in Strategic Education, Inc. (STRA), a company that operates online education programs and services. The news was reported by Yahoo Finance on August 18th, 2021.

According to the report, PNC Financial Services Group Inc. had previously owned a 9.5% stake in Strategic Education, Inc., but has since reduced its ownership to 6.7%. The reduction in stake was made through the sale of approximately 3.8 million shares of STRA stock at an average price of $10.42 per share.

Strategic Education, Inc. operates a variety of online education programs and services under several different brands, including Kaplan University, Purdue Global, and Southern New Hampshire University. The company's mission is to provide accessible and affordable education to students around the world.

PNC Financial Services Group Inc. is a multinational financial services corporation headquartered in Pittsburgh, Pennsylvania. The company operates in several different business segments, including banking, asset management, and corporate and investment banking.

It's worth noting that this reduction in stake does not necessarily indicate any change in PNC's relationship with Strategic Education, Inc. or its commitment to the education sector. It could simply be a strategic decision made by PNC to diversify its portfolio of investments.