Billionaire Ken Griffin’s Top 5 High Dividend Stock Picks

In this article, we discuss billionaire Ken Griffin’s top 5 high-dividend stock picks. If you want to read our detailed analysis of Ken Griffin’s investment strategy, go directly to read Billionaire Ken Griffin’s Top 10 High Dividend Stock Picks. 

5. Citigroup Inc. (NYSE:C)

Citadel Investment Group’s Stake Value: $188,051,776
Dividend Yield as of February 17: 3.98%

Citigroup Inc. (NYSE:C) is a New York-based multinational investment bank and financial services company that serves over 200 million customers in more than 160 countries. In January, BofA raised its price target on the stock to $60 with a Buy rating on the shares, highlighting the company’s efforts to build capital and execute its consumer business.

At the end of Q4 2022, Citadel Investment Group owned over 4.1 million shares of Citigroup Inc. (NYSE:C), worth over $188 million. The hedge fund raised its position in the company by 81% during the quarter. The company made up 0.04% of the firm’s 13F portfolio.

On January 12, Citigroup Inc. (NYSE:C) declared a quarterly dividend of $0.51 per share, which fell in line with its previous dividend. The stock has a dividend yield of 3.98%, as of February 17. It is among the top high-dividend stock picks of billionaire Ken Griffin.

At the end of Q3 2022, 85 hedge funds tracked by Insider Monkey reported owning stakes in Citigroup Inc. (NYSE:C), growing from 82 in the previous quarter. These stakes are worth over $7.1 billion collectively.

Diamond Hill Capital mentioned Citigroup Inc. (NYSE:C) in its Q1 2022 investor letter. Here is what the firm has to say:

“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.”