In this article, we discuss 5 highest-yielding dividend aristocrats for 2022. If you want to see some more stocks in this selection, click 10 Highest-Yielding Dividend Aristocrats for 2022.
5. T. Rowe Price Group, Inc. (NASDAQ:TROW)
Dividend Yield as of May 6: 3.82%
Number of Hedge Fund Holders: 30
T. Rowe Price Group, Inc. (NASDAQ:TROW) is an American global investment management firm that specializes in mutual funds, advisory services, and retirement planning, among other financial services. T. Rowe Price Group, Inc. (NASDAQ:TROW)’s dividend yield on May 6 stood at 3.82%.
On April 28, T. Rowe Price Group, Inc. (NASDAQ:TROW) reported its Q1 results, posting earnings per share of $2.62, missing estimates by $0.14. The $1.86 billion revenue outperformed analysts’ predictions by $687,130.
T. Rowe Price Group, Inc. (NASDAQ:TROW) declared on February 8 a $1.20 per share quarterly dividend, an 11.1% increase from its last dividend of $1.08, marking the 36th consecutive year since the company’s public listing that it will have increased its common annual dividend. The dividend was paid to shareholders on March 30.
T. Rowe Price Group, Inc. (NASDAQ:TROW) announced on May 4 that it has joined the Net Zero Asset Managers initiative to promote net zero greenhouse gas emissions by 2050 or sooner. The company is solidifying its commitment to offering investment products for customers with net zero goals.
BMO Capital analyst James Fotheringham reiterated an Outperform rating on T. Rowe Price Group, Inc. (NASDAQ:TROW) but lowered the firm’s price target on the stock to $160 from $204. The analyst cited the company’s Q1 earnings miss and revised expense guidance, slashing his FY22 EPS view to $11.38 from $12.50, and noting that market depreciation poses a risk to his new estimates. However, the analyst still projects “modest organic growth” and sees upside potential for T. Rowe Price Group, Inc. (NASDAQ:TROW)’s earnings multiple, which is presently at “only” 10-times expected forward earnings.
According to Insider Monkey’s Q4 database, T. Rowe Price Group, Inc. (NASDAQ:TROW) was found in the public stock portfolios of 30 hedge funds, compared to 35 funds in the prior quarter. Cliff Asness’ AQR Capital Management is the largest shareholder of the company, with 710,753 shares worth $139.7 million.
4. Franklin Resources, Inc. (NYSE:BEN)
Dividend Yield as of May 6: 4.64%
Number of Hedge Fund Holders: 29
Franklin Resources, Inc. (NYSE:BEN) is a public asset management holding company that specializes in equity, fixed income, balanced, and multi-asset mutual funds. Franklin Resources, Inc. (NYSE:BEN) delivers a dividend yield of 4.64% as of May 6.
On February 23, Franklin Resources, Inc. (NYSE:BEN) declared a $0.29 per share quarterly dividend, a 4.0% increase from its prior dividend of $0.28. The dividend was distributed to shareholders on April 14. The company has been increasing its dividends for 42 consecutive years.
Franklin Resources, Inc. (NYSE:BEN) reported on May 3 its financial results for Q1 2022. The company announced earnings per share of $0.96, beating analysts’ estimates by $0.15. The $2.08 billion revenue also outperformed market consensus by $1.50 million.
Citi analyst William Katz on April 12 downgraded Franklin Resources, Inc. (NYSE:BEN) to Neutral from Buy with a price target of $28, down from $44.50. Ahead of U.S. asset manager Q1 earnings season, the analyst slashed earnings projections through 2024, lowered 12-month target prices, and restacked his relative sector ranks. The analyst sees higher attrition risk for Franklin Resources, Inc. (NYSE:BEN).
Among the hedge funds tracked by Insider Monkey, 29 funds were bullish on Franklin Resources, Inc. (NYSE:BEN) at the end of December 2021, with collective stakes worth over $401 million. Ken Griffin’s Citadel Investment Group is the largest shareholder of the company, with 3.2 million shares worth $109.4 million.
3. Leggett & Platt, Incorporated (NYSE:LEG)
Dividend Yield as of May 6: 4.53%
Number of Hedge Fund Holders: 21
Leggett & Platt, Incorporated (NYSE:LEG) has a reliable dividend history, with 50 years of consistent dividend growth under its belt. The company designs and manufactures engineered components and products, operating via Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products segments.
On May 2, Leggett & Platt, Incorporated (NYSE:LEG) reported its Q1 2022 financial results. The company announced an EPS of $0.66, topping analysts’ predictions by $0.10. Revenue for the period grew almost 15% year-over-year to $1.32 billion, ahead of market forecasts by $63.78 million.
Leggett & Platt, Incorporated (NYSE:LEG) declared on February 22 a $0.42 per share quarterly dividend, a 5.0% increase from its prior dividend of $0.40. The dividend was distributed on April 15. Leggett & Platt, Incorporated (NYSE:LEG)’s dividend yield on May 6 came in at 4.53%.
Raymond James analyst Bobby Griffin downgraded Leggett & Platt, Incorporated (NYSE:LEG) to Market Perform from Outperform without a price target on May 4. The analyst told investors that the downgrade is due to the recent slowdown and uncertainty surrounding home durables demand in 2022, as well as the tight global supply chain. The analyst also does not see a high possibility of material upside to financial results in the short-term as management’s guidance already reflects a reacceleration in sales volume.
In Q4 2021, 21 hedge funds were bullish on Leggett & Platt, Incorporated (NYSE:LEG), up from 16 funds in the earlier quarter. Billionaire Israel Englander’s Millennium Management is the largest shareholder of the company, with 1.16 million shares worth $47.8 million.
2. 3M Company (NYSE:MMM)
Dividend Yield as of May 6: 4.03%
Number of Hedge Fund Holders: 41
3M Company (NYSE:MMM) is a diversified American technology company that operates through four segments – Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. 2022 marks the 64th consecutive year of dividend increases by 3M Company (NYSE:MMM).
On February 8, 3M Company (NYSE:MMM) declared a $1.49 per share quarterly dividend, a 0.7% increase from its last dividend of $1.48. The dividend was distributed on March 12, to shareholders of record on February 18. 3M Company (NYSE:MMM)’s dividend yield on May 6 stood at 4.03%.
3M Company (NYSE:MMM) reported on April 26 its earnings for the first fiscal quarter of 2022. The company posted an EPS of $2.65, topping market estimates by $0.34. The $8.83 billion revenue also surpassed analysts’ predictions by $81.35 million. The GAAP EPS of $2.26, however, missed Street forecasts by $0.05.
Argus analyst John Eade downgraded 3M Company (NYSE:MMM) to Hold from Buy on April 28. The analyst cited the company’s Q1 earnings miss that came in light of underperformance over the last quarter. He added that while 3M Company (NYSE:MMM) delivers value with its 4.1% dividend yield, he “has doubts” about its earnings outlook.
According to Insider Monkey’s Q4 data, 41 hedge funds were bullish on 3M Company (NYSE:MMM), compared to 46 funds in the earlier quarter. Ken Fisher’s Fisher Asset Management is the leading shareholder of the company, with 5.7 million shares worth over $1 billion.
1. V.F. Corporation (NYSE:VFC)
Dividend Yield as of May 6: 4.17%
Number of Hedge Fund Holders: 21
V.F. Corporation (NYSE:VFC) was founded in 1899 and is headquartered in Denver, Colorado. The company designs and markets branded apparel, footwear, and fashion products for men, women, and children. V.F. Corporation (NYSE:VFC)’s dividend yield on May 6 stood at 4.17%.
On January 28, V.F. Corporation (NYSE:VFC) declared a $0.50 per share quarterly dividend, in line with previous. The dividend was distributed to shareholders on March 21. V.F. Corporation (NYSE:VFC) has increased its dividend for 49 years in a row.
Wells Fargo analyst Ike Boruchow downgraded V.F. Corporation (NYSE:VFC) to Equal Weight from Overweight, slashing the price target to $58 from $75. With the V.F. Corporation (NYSE:VFC) equity driven by Vans, the analyst expects the company success to remain limited as the Vans brand works to regain momentum under new brand head, Doug Palladini. The analyst noted that any long-term brand targets around Vans issued by V.F. Corporation (NYSE:VFC) are likely to delay long-term growth targets to fiscal 2024 and beyond.
According to Insider Monkey’s database, V.F. Corporation (NYSE:VFC) was found in the public stock portfolios of 21 hedge funds at the end of Q4 2021, compared to 23 funds in the last quarter. Ric Dillon’s Diamond Hill Capital is the largest shareholder of the company, with 5.90 million shares worth $432.3 million.
You can also take a look at 10 Favorite Stocks of Dan Loeb’s Third Point and 10 Best Micro-Cap Stocks to Buy According to Hedge Funds.
