Top 5 Stock Picks of Citadel

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

Citadel Investment Group’s Stake Value: $473,357,000

Percentage of Citadel Investment Group’s 13F Portfolio: 0.09%

Number of Hedge Fund Holders: 49

The PNC Financial Services Group, Inc. (NYSE:PNC) is a Pennsylvania-based bank holding company and financial services corporation. Securities filings for Q1 2022 disclose that Ken Griffin’s fund owned 2.5 million shares of The PNC Financial Services Group, Inc. (NYSE:PNC), worth $473.35 million, representing 0.09% of the total 13F holdings. Citadel Investment Group strengthened its hold on The PNC Financial Services Group, Inc. (NYSE:PNC) by 146% in Q1. 

On July 1, The PNC Financial Services Group, Inc. (NYSE:PNC) declared a $1.50 per share quarterly dividend, in line with previous. The dividend is payable on August 5, to shareholders of record on July 13. The PNC Financial Services Group, Inc. (NYSE:PNC) delivers a dividend yield of 3.72% as of July 8. 

Raymond James analyst Michael Rose on June 30 downgraded The PNC Financial Services Group, Inc. (NYSE:PNC) to Market Perform from Outperform without a price target. The analyst now sees a balanced risk-reward for The PNC Financial Services Group, Inc. (NYSE:PNC) due to a lack of catalysts and more interesting names in his coverage. However, he continues to view the company’s fundamental story positively due to better loan growth, continuing benefits from the BBVA acquisition, and a robust profitability profile, he told investors.

According to Insider Monkey’s first quarter database, 49 hedge funds were bullish on The PNC Financial Services Group, Inc. (NYSE:PNC), up from 40 funds in the previous quarter. Israel Englander’s Millennium Management is a significant shareholder of the company, with 998,049 shares worth $184 million.