Is PNC Financial Services Group Inc (PNC) Worthy of Your Portfolio?

Consequently, specific money managers were leading the bulls’ herd. Balyasny Asset Management, led by Dmitry Balyasny, established the most valuable position in PNC Financial Services Group Inc (NYSE:PNC). Balyasny Asset Management had $95.7 million invested in the company at the end of the quarter. Robert Pitts’s Steadfast Capital Management also made a $56.6 million investment in the stock during the third quarter. The other funds with new positions in the stock are David Tepper’s Appaloosa Management LP, Ken Griffin’s Citadel Investment Group, and Anand Parekh’s Alyeska Investment Group.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as PNC Financial Services Group Inc (NYSE:PNC) but similarly valued. We will take a look at America Movil SAB de CV (ADR) (NYSE:AMX), Raytheon Company (NYSE:RTN), Northrop Grumman Corporation (NYSE:NOC), and ING Groep N.V. (ADR) (NYSE:ING). This group of stocks’ market values are closest to PNC’s market value.

As you can see these stocks had an average of 24 funds with bullish positions at the end of September and the average amount invested in these stocks was $649 million. That figure was $.189 billion in PNC’s case. Northrop Grumman Corporation (NYSE:NOC) is the most popular stock in this table, while America Movil SAB de CV (ADR) (NYSE:AMX) is the least popular one with only 11 investors holding shares. Compared to these stocks PNC Financial Services Group Inc (NYSE:PNC) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.