5 Dividend Stocks to Buy in the Financial Services Sector

3. JPMorgan Chase & Co. (NYSE:JPM)

Number of Hedge Fund Holders: 104
Dividend Yield as of September 13: 3.32%

Up next on our list of dividend stocks to buy in the financial services sector is JPMorgan Chase & Co. (NYSE:JPM), which is a multinational investment bank and financial services holding company. In July, Berenberg upgraded the stock to Hold with a $120 price target, appreciating the company’s position in the current challenging environment.

In Q2 2022, JPMorgan Chase & Co. (NYSE:JPM) reported a 7% growth in its average loans and its average deposits grew by 9% from the previous quarter. The company’s revenue for the quarter came in at $30.7 billion and its managed revenue stood at $31.6 billion. It also generated $66 billion in operating cash flow, exhibiting a strong cash position.

JPMorgan Chase & Co. (NYSE:JPM) maintains an 11-year track record of consistent dividend growth and has raised its payouts at a CAGR of 15.33% in the last five years. Currently, it pays a quarterly dividend of $1.00 per share and has a yield of 3.32%, as of September 13.

According to Insider Monkey’s database, 104 hedge funds owned investments in JPMorgan Chase & Co. (NYSE:JPM) in Q2 2022, compared with 110 in the previous quarter. These investments hold a combined value of $5.8 billion. Ken Fisher’s Fisher Asset Management was the company’s leading stakeholder in Q2.