5 Financial Stocks to Buy Now According to Billionaire Cliff Asness

3. Citigroup Inc. (NYSE:C)

AQR Capital Management’s Stake Value: $215 million

Percentage of AQR Capital Management’s 13F Portfolio: 0.48%

Number of Hedge Fund Holders: 82

Citigroup Inc. (NYSE:C), headquartered in New York City, is an investment bank and financial services company. In 1998, Travelers Group and Citicorp, two massive financial conglomerates, merged to form this company. In Q2 2022, AQR Capital Management increased its stake in Citigroup Inc. (NYSE:C) by 105% and now holds shares worth $215 million. It ranks #3 on our list of 10 Financial Stocks to Buy Now According to Billionaire Cliff Asness.

In the second fiscal quarter, Citigroup Inc. (NYSE:C) reported normalized EPS of $2.19 and revenue of $19.64 billion, beating estimates by $0.52 and $1.32 billion respectively.

On July 21, Citigroup Inc. (NYSE:C) declared a quarterly dividend of $0.51 per share, in line with previous. The company’s dividend yield on September 14 came in at 4.16%.

As of Q2 2022, 82 of the 895 hedge funds tracked by Insider Monkey were long Citigroup Inc. (NYSE:C) shares, for a total value of $7.4 billion. Warren Buffett’s Berkshire Hathaway was its largest shareholder with ownership of 55 million shares valued at $2.5 billion.