5 Best Financial Sector Dividend Stocks To Invest In

In this article, we discuss 5 best financial sector dividend stocks to invest in. If you want to read our detailed analysis of the financial sector and its outlook for this year, go directly to read 14 Best Financial Sector Dividend Stocks To Invest In. 

5. Citigroup Inc. (NYSE:C)

Number of Hedge Fund Holders: 87

Citigroup Inc. (NYSE:C) is a New York-based investment banking company that offers financial and other banking services to its consumers. The company has been paying regular dividends to shareholders for the past 34 years and currently pays a quarterly dividend of $0.53 per share. The stock’s dividend yield on May 4 came in at 3.45%.

Citigroup Inc. (NYSE:C) was popular among elite funds at the end of Q4 2023 with hedge fund positions growing to 87, from 79 in the previous quarter, as per Insider Monkey’s database. The stakes held by these funds have a total value of over $10.2 billion. With over 55.2 million shares, Warren Buffett’s Berkshire Hathaway was the company’s largest stakeholder in Q4.

4. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 96

An American financial services company, Bank of America Corporation (NYSE:BAC) is next on our list of the best dividend stocks from the financial services sector. The company’s quarterly dividend comes in at $0.24 per share for a dividend yield of 2.58%, as of May 4. It has been making uninterrupted dividend payments to shareholders for the past 25 years.

The number of hedge funds tracked by Insider Monkey owning stakes in Bank of America Corporation (NYSE:BAC) jumped to 96 in Q4 2023, from 88 in the previous quarter. The collective value of these stakes is roughly $40 billion.

3. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 103

JPMorgan Chase & Co. (NYSE:JPM) has always remained committed to its shareholders as the company returned $3.3 billion to investors through dividends in the first quarter of 2024. The multinational investment banking company offers a quarterly dividend of $1.15 per share and has a dividend yield of 2.41%, as recorded on May 4.

At the end of Q4 2023, 103 hedge funds tracked by Insider Monkey held stakes in JPMorgan Chase & Co. (NYSE:JPM), down from 109 in the preceding quarter. These stakes have a collective value of over $9 billion. Among these hedge funds, Fisher Asset Management was the company’s leading stakeholder in Q4.

2. Mastercard Incorporated (NYSE:MA)

Number of Hedge Fund Holders: 141

An American credit card company, Mastercard Incorporated (NYSE:MA) has been growing its dividends consistently for the past 11 years. The company offers a quarterly dividend of $0.66 per share and has a dividend yield of 0.60%, as of May 4. It announced its first quarter 2024 earnings on May 1 and revealed that the company returned $616 million to shareholders through dividends, which makes MA one of the best financial sector dividend stocks.

Mastercard Incorporated (NYSE:MA) was a part of 141 hedge fund portfolios at the end of Q4 2023, up from 140 in the preceding quarter, according to Insider Monkey’s database. These stakes have a consolidated value of nearly $17 billion.

1. Visa Inc. (NYSE:V)

Number of Hedge Fund Holders: 161

Visa Inc. (NYSE:V) tops our list of the best dividend stocks from the financial sector. The American credit card company’s dividend growth streak spans over 15 years and offers a quarterly dividend of $0.52 per share. As of May 4, the stock has a dividend yield of 0.77%.

As of the end of December 2023, 162 hedge funds held stakes in Visa Inc. (NYSE:V), compared with 167 in the previous quarter, as per Insider Monkey’s database. The consolidated value of these stakes is over $26.5 billion.

You can also take a look at 12 Cheap Lithium Stocks to Buy According to Analysts and 20 Fastest Growing Fintech Companies In 2024