Should You Now Consider Disposing Your Citigroup (C) Shares?

Diamond Hill Capital, an investment management firm, published its “Diamond Hill Long-Short Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. The Diamond Hill Long-Short Fund’s returns were just about flat—slightly positive— in Q1. After a strong rebound in 2021, the fund expects the global GDP growth to moderate in 2022. Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Diamond Hill Long-Short Fund mentioned Citigroup Inc. (NYSE:C) and explained its insights for the company. Founded in 1998, Citigroup Inc. (NYSE:C) is a New York, New York-based investment banking company with an $85.7 billion market capitalization. Citigroup Inc. (NYSE:C) delivered a -26.91% return since the beginning of the year, while its 12-month returns are down by -34.02%. The stock closed at $44.14- per share on July 14, 2022.

Here is what Diamond Hill Long-Short Fund has to say about Citigroup Inc. (NYSE:C) in its Q1 2022 investor letter:

“Shares of Citigroup 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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Our calculations show that Citigroup Inc. (NYSE:C) ranks 28th on our list of the 30 Most Popular Stocks Among Hedge Funds. Citigroup Inc. (NYSE:C) was in 88 hedge fund portfolios at the end of the first quarter of 2022, compared to 97 funds in the previous quarter. Citigroup Inc. (NYSE:C) delivered a -13.33% return in the past 3 months.

In March 2021, we also shared another hedge fund’s views on Citigroup Inc. (NYSE:C) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.