5 Best Dividend Stocks Yielding at Least 7% According to Hedge Funds

4. Truist Financial Corporation (NYSE:TFC)

Number of Hedge Fund Holders: 42
Dividend Yield as of August 19: 7.23%

Truist Financial Corporation (NYSE:TFC) is an American bank holding company that provides a wide range of related services to its consumers. On July 25, the company declared a quarterly dividend of $0.52 per share, which was consistent with its previous dividend. It has raised its dividends consistently for the past eight years, making it one of the best dividend stocks on our list. The stock has a dividend yield of 7.23%, as recorded on August 20.

As of the close of Q2 2023, 42 elite funds owned stakes in Truist Financial Corporation (NYSE:TFC), according to Insider Monkey’s database. The consolidated value of these stakes is over $910 million. With over 15 million shares, Diamond Hill Capital was the company’s largest stakeholder in Q2.