In this article, we discuss the 5 best dividend stocks to buy according to James Parsons’ Junto Capital Management. If you want to read our detailed analysis of Parsons’ history and hedge fund performance, go directly to the 10 Best Dividend Stocks to Buy According to James Parsons’ Junto Capital Management.
5. The Procter & Gamble Company (NYSE: PG)
Parsons’ Stake Value: $35,919,000
Percentage of James Parsons’ 13F Portfolio: 1.29%
Dividend Yield: 2.58%
Number of Hedge Fund Holders: 70
The Procter & Gamble Company (NYSE: PG) supplies branded consumer packaged commodities to customers. The company was founded in 1837 and stands fifth on the list of 10 best dividend stocks to buy according to James Parsons’ Junto Capital Management. The Procter & Gamble shares have gained 12.84% over the last 12 months.
On June 23, UBS initiated a coverage on the stock and rated it as “Neutral,” setting a price target of $138. On April 20, Procter & Gamble posted earnings per share for the fiscal third quarter of 2021. The company declared earnings of $1.26, beating the market predictions by $0.07. The revenue for the third quarter of 2021 was $18.11 billion, up 5.2% YoY, beating the estimates by $150 million. On April 13, Procter & Gamble (NYSE: PG) announced a quarterly dividend of $0.8698 per share, which was a 10% increase from its prior dividend of $0.7907.
The stock is a new arrival on James Parsons’ portfolio, as his hedge fund bought about 265,222 shares of the company, worth $35.92 million. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Trian Partners is the biggest stakeholder of the company with 8.88 million shares, worth $1.20 billion.
4. CIT Group Inc. (NYSE: CIT)
Parsons’ Stake Value: $45,950,000
Percentage of James Parsons’ 13F Portfolio: 1.65%
Dividend Yield: 2.71%
Number of Hedge Fund Holders: 28
CIT Group Inc. (NYSE: CIT) provides financing and connected services to commercials and individual customers. It was founded in 1908 and is ranked fourth on the list of 10 best dividend stocks to buy according to James Parsons’ Junto Capital Management. CIT Group currently has a $5.16 billion market capitalization and was able to deliver a 161.68% return in the past 12 months.
On June 22, CIT Group Inc. (NYSE: CIT) declared that CIT Northbridge Credit will serve as the sole lead supporter on a $30 million credit provision to an online store of lavish accessories. Proceeds will be used to refinance present dues and for basic corporate purposes. On April 28, CIT posted earnings for the first quarter of 2021. Its earnings per share was $2.47, beating market predictions by $1.74. The company also declared its revenue of $557 million, up 12.3% YoY, beating the estimates by $93 million.
CIT Group Inc. (NYSE: CIT) is a new addition to James Parsons hedge fund portfolio, as Junto Capital Management bought 892,052 shares of the company, worth $45.95 million. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm Alua Capital Management is a leading shareholder in CIT Group with 4.48 million shares worth more than $231million.
3. Ares Management Corporation (NYSE: ARES)
Parsons’ Stake Value: $53,217,000
Percentage of James Parsons’ 13F Portfolio: 1.91%
Dividend Yield: 2.74%
Number of Hedge Fund Holders: 16
Ares Management Corporation (NYSE: ARES) works as an alternative fund management company in the United States, Europe, and Asia. The company was founded in 1997 and stands third on the list of 10 best dividend stocks to buy according to James Parsons’ Junto Capital Management. Ares Management shares have gained 63.36% over the last 12 months.
On June 24, Ares Management Corporation (NYSE: ARES) announced that its indirect subsidiary Ares Finance Co. III is planning to offer fixed-rate revised subordinated notes. The company intends to use the net proceeds for common corporate purposes, together with repaying debt and fund growth strategies. On May 20, the company announced that its subsidiary attained 100% of Black Creek Group’s U.S. real estate finance consultation and dispersal business. The partnership aims to offer new policies, broaden sourcing networks, and support execution. On April 29, Ares Management declared a quarterly dividend of $0.47 in line with the previous.
Junto Capital Management holds 949,803 shares in the company worth $53.22 million. Parsons hedge fund increased its stake in the company by 61% in the first quarter. Out of the hedge funds being tracked by Insider Monkey, HMI Capital is the biggest stakeholder of the company with 5.74 million shares, worth $321.65 million.
2. The Interpublic Group of Companies, Inc. (NYSE: IPG)
Parsons’ Stake Value: $70,250,000
Percentage of James Parsons’ 13F Portfolio: 2.52%
Dividend Yield: 3.23%
Number of Hedge Fund Holders: 29
The Interpublic Group of Companies, Inc. (NYSE: IPG) provides advertising and trading services globally. The company was incorporated in 1902 and is ranked second on the list of 10 best dividend stocks to buy according to James Parsons’ Junto Capital Management. The Interpublic currently has a $12.78 billion market capitalization. It delivered a 94.31% return in the past 12 months.
On July 1, The Interpublic Group of Companies, Inc. (NYSE: IPG) reported that FCB Health and McCann Health will be restructured under a new worldwide web, to be called IPG Health. The healthcare advertising agencies will continue collaborating with IPG’s global advertising networks, using IPG’s collective open architectural design. On May 27, Interpublic Group declared a quarterly dividend of $0.27 per share, in line with the previous.
The Interpublic Group of Companies, Inc. (NYSE: IPG) is a new addition to James Parsons’ hedge fund portfolio, as Junto Capital Management bought 2.41 million shares of the company, worth $70.25 million. The biggest stakeholder of the company is Harris Associates, with 13.37 million shares, worth $390.32 million.
1. The Western Union Company (NYSE: WU)
Parsons’ Stake Value: $30,495,000
Percentage of James Parsons’ 13F Portfolio: 1.09%
Dividend Yield: 4.09%
Number of Hedge Fund Holders:
The Western Union Company (NYSE: WU) supplies money movement and payment services globally. It was founded in 1851 and is placed first on the list of 10 best dividend stocks to buy according to James Parsons’ Junto Capital Management. Shares of the company rallied 6.91% in the last 12 months, resulting in a $9.4 billion market capitalization.
On June 29, French fintech company Linxo partnered with Western Union (NYSE: WU) to permit its users to make local and transborder payments through Western Union’s platform. They have collaborated to offer their clients flexibility and trust strengthened by technology and customer experience. On June 10, Western Union allowed national postal services worldwide to offer intercontinental digital cash transfer services. On May 14, Western Union declared a quarterly dividend of $0.235, in line with the previous. The dividend yield is 4.09%.
The stock is a new arrival on Parsons’ portfolio, as his hedge fund bought about 1.24 million shares of the company, worth $30.50 million. New York-based investment firm D E Shaw is a leading shareholder in The Western Union Company (NYSE: WU) with 4.26 million shares worth more than $105 million.
You can also take a peek at 10 Best Dividend Stocks to Buy According to Al Gore and David Blood and 10 Best Dividend Stocks to Buy and Hold According to Tiger Cub Lee Ainslie.
