5 Best Financial Dividend Stocks to Invest In

In this article, we discuss 5 best financial dividend stocks to invest in. If you want to read our detailed analysis of the finance sector and dividend stocks, go directly to read 12 Best Financial Dividend Stocks to Invest In. 

5. The Allstate Corporation (NYSE:ALL)

Dividend Yield as of November 4: 2.63%

The Allstate Corporation (NYSE:ALL) is an American insurance company that offers a wide range of coverage options for its consumers. The company reported strong cash position in its third-quarter earnings as it paid nearly $897 million to shareholders, $232 million of which represented dividend payments. Its revenue for the quarter came in at $13.2 billion, which showed a 5.8% growth from the same period last year.

The Allstate Corporation (NYSE:ALL) currently pays a quarterly dividend of $0.85 per share and has a dividend yield of 2.63%, as of November 4. The company is one of the best dividend stocks on our list as it has been raising its dividends consistently for the past 14 years.

In November, Citi raised its price target on The Allstate Corporation (NYSE:ALL) to $140 with a Buy rating on the shares after its Q3 earnings. The firm appreciated the company’s margin recovery and its valuation.

At the end of Q2 2022, 37 hedge funds tracked by Insider Monkey reported owning stakes in The Allstate Corporation (NYSE:ALL), compared with 44 in the previous quarter. These stakes hold a consolidated value of over $627.3 million.