5 Best Dow Jones Dividend Stocks that Hedge Funds Love

In this article, we discuss 5 best Dow Jones dividend stocks that hedge funds love. If you want to read our detailed discussion on the Dow and dividend stocks, go directly to read 10 Best Dow Jones Dividend Stocks that Hedge Funds Love. 

5. UnitedHealth Group Incorporated (NYSE:UNH)

Number of Hedge Fund Holders: 91

UnitedHealth Group Incorporated (NYSE:UNH) is an American multinational healthcare and insurance company that offers related products and services to its consumers. The company reported strong results in Q3 2022. It posted an operating cash flow of $18.5 billion and its adjusted cash flow from operations came in at $8.8 billion. Year-to-date, it returned over $10.5 billion to shareholders through dividends and share repurchases.

UnitedHealth Group Incorporated (NYSE:UNH) has a long history of paying dividends. The company started paying annual dividends to shareholders in 1990 and has paid uninterrupted quarterly dividends since 2010. On September 20, it announced a one-time special dividend of $2.00 per share. The company’s quarterly dividend currently stands at $1.65 per share, with a dividend yield of 1.22%, as of October 26. Its special dividends and consistent shareholder return make it one of the best dividend stocks to buy.

In October, Deutsche Bank raised its price target on UnitedHealth Group Incorporated (NYSE:UNH) to $615 with a Buy rating on the shares, after the company posted solid Q3 results. The firm highlighted the company’s membership growth and value-based arrangements.

At the end of Q2 2022, 91 hedge funds in Insider Monkey’s database owned stakes in UnitedHealth Group Incorporated (NYSE:UNH) in Q2, with a total value of roughly $11 billion. GQG Partners owned $1.6 billion worth of stakes in the company, becoming its leading stakeholder in Q2 2022.

Carillon Tower Advisers mentioned UnitedHealth Group Incorporated (NYSE:UNH) in its Q2 2022 investor letter. Here is what the firm has to say:

“UnitedHealth Group Incorporated (NYSE:UNH) reported solid quarterly results and raised 2022 guidance modestly. Additionally, managed care is another industry that is viewed as defensive in the current environment, which helped support UnitedHealth and its peer group.”