5 Jim Cramer Stocks to Buy in Q1 2022

3. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holders: 79  

Amid inflation and the prospect of rising interest rates, it is no wonder that Cramer is especially bullish on the finance sector in general and companies like Citigroup Inc. (NYSE:C) in particular for the next few months. He discussed Citigroup Inc. (NYSE:C) stock in his show on January 7, talking about the expected market-beating fourth quarter earnings of the bank and underlined that the commentary of the CEO of the firm after earnings could push the stock higher. 

There are similarly bullish calls on Citigroup Inc. (NYSE:C) in the hedge fund universe. Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Harris Associates is a leading shareholder in Citigroup Inc. (NYSE:C) with 28 million shares worth more than $1.9 billion. 

In its Q1 2021 investor letter, Artisan Partners Limited Partnership, an asset management firm, highlighted a few stocks and Citigroup Inc. (NYSE:C)  was one of them. Here is what the fund said:

“We fully exited 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.”