Clint Carlson’s Carlson Capital Portfolio: 5 Dividend Stock Picks

2. The PNC Financial Services Group, Inc. (NYSE:PNC)

Number of Hedge Fund Holders: 49
Dividend Yield as of May 29: 3.43%
Carlson Capital’s Stake Value: $25,674,000

The PNC Financial Services Group, Inc. (NYSE:PNC) is an American bank holding company and financial services corporation. The company has been paying dividends to shareholders consecutively for the past 30 years, compared with a sector average of 13 years. In April, The PNC Financial Services Group, Inc. (NYSE:PNC) announced a quarterly dividend of $1.50 per share, presenting a 20% growth from its previous dividend. The stock’s dividend yield stood at 3.43%, as of the close of May 29.

Carlson Capital increased its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 28% during the first quarter of 2022. The hedge fund owned 139,193 shares in the company, valued at over $25.6 million. The company represented 1.75% of Clint Carlson’s portfolio. In May, Wolfe Research set a $177 price target on The PNC Financial Services Group, Inc. (NYSE:PNC), with an Outperform rating on the shares.

As per Insider Monkey’s Q1 2022 database, 49 hedge funds held positions in The PNC Financial Services Group, Inc. (NYSE:PNC), with stakes valued at roughly $1.5 billion. In comparison, 40 hedge funds owned stakes in the Pennsylvania-based company in the previous quarter, worth over $663 million.