5 Best Financial Dividend Stocks to Invest In

4. The Goldman Sachs Group, Inc. (NYSE:GS)

Dividend Yield as of November 4: 2.79%

The Goldman Sachs Group, Inc. (NYSE:GS) is a New York-based investment banking company that also provides other financial services to its consumers. In October, BMO Capital maintained an Outperform rating on the stock with a $469 price target. The firm appreciated the company’s improvement in profitability and its Consumer and Banking businesses.

In the third quarter of 2022, The Goldman Sachs Group, Inc. (NYSE:GS) reported revenue of $11.98 billion, which beat estimates by $450 million. During the quarter, the firm returned over $1.89 billion to shareholders, including $893 million in dividends. It ended the quarter with $284 billion in cash and cash equivalents.

On October 18, The Goldman Sachs Group, Inc. (NYSE:GS) declared a quarterly dividend of $2.50 per share, in line with its previous dividend. The company maintains a 10-year streak of consistent dividend growth, coming through as one of the best dividend stocks to buy from the finance sector. As of November 4, the stock has a dividend yield of 2.79%.

At the end of Q2 2022, 69 hedge funds tracked by Insider Monkey owned stakes in The Goldman Sachs Group, Inc. (NYSE:GS), down from 71 in the previous quarter. These stakes have a collective value of over $4.6 billion. Eagle Capital Management was the company’s leading stakeholder in Q2.

GoodHaven Capital Management mentioned The Goldman Sachs Group, Inc. (NYSE:GS) in its Q2 2022 investor letter. Here is what the firm has to say:

“We also initiated a position in The Goldman Sachs Group, Inc. (NYSE:GS) at an inexpensive valuation and are attracted by the potential durability of the company’s ability to generate high returns on equity driven in part by the growth in their existing and new franchises.”