5 Best High Beta Stocks To Buy Now

1. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holders: 82

Beta Value: 1.59

Citigroup Inc. (NYSE:C) is an American diversified financial services holding company, providing various financial products and services to consumers, corporations, governments, and institutions in North America, Latin America, Asia, Europe, the Middle East, and Africa. On October 20, Citigroup Inc. (NYSE:C) declared a quarterly dividend of $0.51 per share, in line with previous. The dividend is payable on November 23, to shareholders of record on November 7. The forward yield was 4.76%. Citigroup Inc. (NYSE:C) is one of the premier high beta stocks to invest in. 

On October 17, BMO Capital analyst James Fotheringham maintained an Outperform rating on Citigroup Inc. (NYSE:C) but trimmed the price target on the shares to $71 from $76. The company posted “mixed” Q3 results with strong performance across Services, Branded Cards, and Retail Services segments being offset by softer Investment Banking, Trading, and Global Wealth divisions, the analyst told investors. He acknowledged that the recommencement of share repurchases by the end of Q3 2022 is a potential positive catalyst for Citigroup Inc. (NYSE:C). 

According to Insider Monkey’s Q2 data, 82 hedge funds were long Citigroup Inc. (NYSE:C), compared to 88 funds in the earlier quarter. Warren Buffett’s Berkshire Hathaway is the leading position holder in the company, with over 55 million shares worth $2.5 billion. 

In its Q1 2022 investor letter, Diamond Hill Capital, an asset management firm, highlighted a few stocks and Citigroup Inc. (NYSE:C) was one of them. Here is what the fund said:

“Shares of Citigroup Inc. (NYSE:C) declined in the quarter as investors became increasingly negative on capital markets activity. The company is also continuing to divest certain consumer banking geographies which may be dilutive to earnings in the near term.”

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