Is it Still Safe to Invest in Citigroup (C)? - InvestingChannel

Is it Still Safe to Invest in Citigroup (C)?

Lansing Street Advisor, an investment management firm, released its third quarter 2023 investor letter, a copy of which can be downloaded here. As per the fund, the past 24 months have witnessed unprecedented events. In 2022, an unusual scenario unfolded, with both stocks and bonds experiencing negative returns in the same year. Now, in 2023, we are navigating a narrative where only a select few stocks account for all the returns, and we confront the prospect of three consecutive years of negative bond returns—an occurrence unprecedented in U.S. history. Take a moment to review the fund’s top 5 holdings to gain insights into their primary investment choices for 2023.

In its Q3 2023 investor letter, Lansing Street Advisors mentioned Citigroup Inc. (NYSE:C) and explained its insights for the company. Citigroup Inc. (NYSE:C) is a New York, New York,-based investment banking company with a $90.6 billion market capitalization. Citigroup Inc. (NYSE:C) delivered a 3.25% return since the beginning of the year, while its 12-month returns are up by 3.82%. The stock closed at $46.70 per share on December 05, 2023.

Here is what Lansing Street Advisors has to say about Citigroup Inc. (NYSE:C) in its Q3 2023 investor letter:

“Renowned advisor Peter Mallouk draws on research from DFA to remind us that historical probabilities tend to challenge the notion of FAANG+ stocks enduring indefinitely. While it’s true that these are exceptional companies with strong financial foundations and consistent profitability, maintaining a historical perspective is valuable, as it helps us remain mindful of the ever-changing landscape of the financial markets. Investors should remember that Citigroup‘s stock, once above $500, now trades at $39. Many wellknown companies share a similar trajectory.”

A business customer signing documents and being advised by a bank representative.

Our calculations show that Citigroup Inc. (NYSE:C) does not belong on our list of the 30 Most Popular Stocks Among Hedge Funds. We also mentioned Citigroup Inc. (NYSE:C) in another article. Citigroup Inc. (NYSE:C) was in 79 hedge fund portfolios at the end of the second quarter of 2023, compared to 75 funds in the previous quarter. Citigroup Inc. (NYSE:C) delivered a 12.91% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.

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

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