5 Cash-Rich Dividend Stocks To Buy Now

1. Citigroup Inc. (NYSE:C)

Number Of Hedge Fund Holders: 85

Dividend Yield As Of January 20: 3.98%

Market Capitalization: $99.53 billion

Enterprise Value (EV): -$154.40 billion

Citigroup Inc. (NYSE:C), or Citi, is an American multinational investment bank and financial services corporation headquartered in New York City that was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998.

On January 16, BofA analyst Ebrahim Poonawala raised the price target on Citigroup Inc. (NYSE:C) to $60 from $52 and maintained a Buy rating on the shares following the Q4 results. The analyst believes that the company’s management has done a “commendable job” over the last twelve months in building capital and executing on consumer business exits.

Citigroup Inc. (NYSE:C) declared a $0.51 per share quarterly dividend on January 11, in line with previous. The dividend will be distributed on February 24, to shareholders of record on February 6.

According to Insider Monkey’s data, Warren Buffett’s Berkshire Hathaway held the largest stake in Citigroup Inc. (NYSE:C) as of the end of September 2022, with more than 55 million shares worth $2.3 billion. Overall, 85 hedge funds reported holdings stakes in the company at the close of Q3.

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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