5 Finance Stocks to Buy According to Billionaire Ray Dalio

In this article, we discuss 5 finance stocks to buy according to billionaire Ray Dalio. If you want our detailed analysis of these stocks, go directly to 10 Finance Stocks to Buy According to Billionaire Ray Dalio. 

5. Citigroup Inc. (NYSE:C)

Bridgewater Associates’ Stake Value: $56,001,000

Percentage of Bridgewater Associates’ 13F Portfolio: 0.30%

Number of Hedge Fund Holders: 79

Citigroup Inc. (NYSE:C) is one of the best finance stocks to buy according to Ray Dalio, with the billionaire elevating his position in the stock by 14% in Q3 2021, owning a total of 797,968 shares worth $56 million. Citigroup Inc. (NYSE:C) is a multinational financial services corporation and the third largest banking institution in the US, offering asset and wealth management, banking, commodities trading, equities trading, insurance, mortgage loans, mutual funds, and private equity.

Citigroup Inc. (NYSE:C), on October 14, announced earnings for the third quarter. EPS over the period came in at $2.15, beating estimates by $0.36. The revenue totaled $17.15 billion, exceeding estimates by $223.95 million. 

Odeon Capital analyst Dick Bove on December 15 upgraded Citigroup Inc. (NYSE:C) to Buy from Hold with a $69.25 price target.

In the third quarter of 2021, 79 hedge funds reported owning stakes in Citigroup Inc. (NYSE:C), down from 87 funds in the prior quarter. Harris Associates is the biggest Citigroup Inc. (NYSE:C) stakeholder as of Q3 2021, with an approximately $2 billion position in the company. 

Here is what Artisan Value Fund has to say about Citigroup Inc. (NYSE:C) in their Q4 2020 investor letter:

“We fully exited the position in Citigroup. Global financial services company Citigroup made a $900 million clerical error and received a public reprimand from federal regulators. This, after a decade focused on process control, information technology and risk systems, makes the error substantially more costly than just the $900 million mistake. Regulators believe the company’s risk management improvements have fallen short of expectations. To rectify the situation, a process and technology spending surge could negatively affect 2021-2022 profits by 10% to 20%. Trust and confidence are important in large financial institutions, and this incident combined with the CEO’s sudden retirement shook ours.”