In this article, we will take a look at the Billionaire Steven Cohen’s Top 11 Dividend Stock Picks.
Steven A. Cohen is the Chairman, Chief Executive Officer, and Co-Chief Investment Officer of Point72, a global multi-strategy asset management firm.
Reuters reported in April that Cohen is making changes to the firm’s leadership by passing the title of president to Co-Chief Investment Officer Harry Schwefel. According to an internal memo seen by Reuters, Point72 also created a new executive committee that will handle the day-to-day operations of its $50 billion multi-strategy hedge fund.
The committee includes Schwefel, along with senior executives Gavin O’Connor, Vincent Tortorella, and Michael “Sully” Sullivan. Cohen said the group will work with him to help guide the firm’s strategy and overall direction. Even with the new structure, Cohen will continue serving as Chairman, CEO, and Co-Chief Investment Officer of Point72. He will chair the executive committee, lead its meetings, and make the final decisions on matters brought before the group. Cohen made the following statement in the memo:
“Over the past few years our firm has grown across virtually every metric – AUM, headcount, global footprint. As we continue to pursue the growth of existing and new strategies, I want to ensure our management structure matches our current scale and growth ambitions.”
The leadership changes also give several executives expanded responsibilities. O’Connor will become Executive Vice President, overseeing strategy, risk, treasury, market intelligence, technology, and investor relations. Tortorella will take over as Chief Operating Officer, while Sullivan will remain Chief of Staff.
Reuters added that Point72 employs more than 3,000 people. The firm generated net returns of 19% in 2024 and 17.5% in 2025, according to the report.
Given this, we will take a look at billionaire Steve Cohen’s top dividend picks.
Steven Cohen of Point72 Asset Management
Our Methodology:
For this article, we scanned Point72 Asset Management’s 13F portfolio as of Q1 2026 and identified quality dividend companies. From there, we picked companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Insider Monkey’s quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 599.2% since May 2014, beating its benchmark by 372 percentage points (see more details here).
11. Union Pacific Corporation (NYSE:UNP)
Point72 Asset Management’s Stake Value: $66,978,648
Dividend Yield as of June 26: 2.06%
On June 25, Evercore ISI raised its price recommendation on Union Pacific Corporation (NYSE:UNP) to $294 from $277. It reiterated an Outperform rating on the stock. In a preview of the rail sector, analyst Jonathan Chappell said Class I railroads are heading into the second-quarter earnings season with momentum, describing it as one that could be “filled with beats and raises” as shipping volumes picked up through most of the quarter.
Earlier in the month, on June 5, Susquehanna increased its price goal on UNP to $305 from $290. It kept a Positive rating on the shares. The firm said rail volumes appear to be running ahead of expectations. Analyst Harrison Bauer noted that ISM readings are “encouraging,” with expansion continuing for five straight months. He also said there is no indication that higher fuel prices are hurting industrial demand. Susquehanna also raised price targets across the rail sector that day.
Union Pacific Corporation (NYSE:UNP) operates through its main subsidiary, Union Pacific Railroad Company. The railroad connects more than 23 states across the western two-thirds of the United States, serving as a key link in the global supply chain.
10. The Bank of New York Mellon Corp (NYSE:BNY)
Point72 Asset Management’s Stake Value: $98,688,297
Dividend Yield as of June 26: 1.49%
On June 26, Truist raised its price recommendation on The Bank of New York Mellon Corp (NYSE:BNY) to $160 from $148. It reiterated a Buy rating on the shares. The update came as part of the firm’s broader research note previewing second-quarter results for trust banks. Analyst David Smith said the group continues to benefit from higher interest rates and the strong rally in equity markets. As a result, trust bank stocks have been among the best-performing subsectors within banking, if not the broader financial sector, in recent months. Truist added that its higher earnings-per-share estimates are mainly driven by stronger net interest income and higher asset levels, while also factoring in an increase in revenue and activity-related expenses.
During the Q1 2026 earnings call, Senior Executive Vice President and CFO McDonogh said the company had raised its full-year 2026 revenue outlook, excluding notable items. The company now expects total revenue to grow by approximately 6% year over year.McDonogh also updated the company’s net interest income guidance, saying full-year 2026 net interest income is expected to increase by approximately 10% compared to the previous year.
On expenses, McDonogh said the company maintained its full-year 2026 expense growth guidance, excluding notable items, but now expects growth to come in at the upper end of the previously announced 3% to 4% year-over-year range.
The Bank of New York Mellon Corp (NYSE:BNY) is a global financial services company. Its business segments include Securities Services, Market and Wealth Services, and Investment and Wealth Management.
9. Cenovus Energy Inc. (NYSE:CVE)
Point72 Asset Management’s Stake Value: $100,351,276
Dividend Yield as of June 26: 2.54%
On June 26, Scotiabank initiated coverage of Cenovus Energy Inc. (NYSE:CVE) with an Outperform rating. It also set a C$47 price target on the stock. The firm said that while Canadian oil and gas stocks have already delivered strong gains this year, it still sees further upside in select names. The analyst launched coverage on six large-cap exploration, production, and royalty companies, while also resuming coverage of six small- and mid-cap E&P companies in the sector.
Earlier, on May 13, Goldman Sachs raised its price recommendation on CVE to $36 from $32. It reiterated a Buy rating on the shares. The firm said it continues to expect an inflection in production volumes and free cash flow as West White Rose comes online. The analyst also pointed to additional upside from Christina Lake North and stronger commodity prices, according to a research note.
Cenovus Energy Inc. (NYSE:CVE) is an integrated energy company with oil and natural gas production operations in Canada and the Asia Pacific region. It also has upgrading, refining, and marketing operations in Canada and the United States.
8. Huntington Bancshares Incorporated (NASDAQ:HBAN)
Point72 Asset Management’s Stake Value: $115,732,924
Dividend Yield as of June 26: 3.49%
On June 15, Stephens resumed coverage of Huntington Bancshares Incorporated (NASDAQ:HBAN) with an Equal Weight rating. It also set a $19 price target on the stock. Analyst Matt Olney, who resumed coverage of nine super-regional banks, said he is “broadly constructive” on the group’s outlook, noting that operating leverage has improved over the past year. He also said capital returns for 2026 are expected to reach levels not seen since 2019 and could increase further depending on the outcome of the Basel 3 Endgame proposals.
A few days earlier, on June 12, Evercore ISI raised its price recommendation on HBAN to $20 from $19. It also reiterated an Outperform rating on the shares. The firm said that despite the stock’s year-to-date underperformance, its confidence in management “remains robust, bolstered by intact earnings expectations and a favorable operating environment,” the analyst told investors.
Huntington Bancshares Incorporated (NASDAQ:HBAN) is a large regional bank holding company. Through its subsidiary, The Huntington National Bank, it provides commercial, consumer, and mortgage banking services.
7. Thermo Fisher Scientific Inc. (NYSE:TMO)
Point72 Asset Management’s Stake Value: $173,776,008
Dividend Yield as of June 26: 0.37%
On June 26, Bernstein resumed coverage of Thermo Fisher Scientific Inc. (NYSE:TMO) with a Market Perform rating. It also set a $520 price target after the analyst returned from maternity leave. In a research note, the firm said “Many things” are going right for the life science tools and diagnostics sector. New drug approvals, clinical trial starts, and funding have all improved over the past 12 months compared to the previous year. Bernstein expects that stronger funding will begin translating into higher customer spending. It also believes re-shoring efforts will support additional investment, while AI-driven demand for semiconductor-related tools continues to grow.
Earlier, on June 11, Piper Sandler initiated coverage of TMO with a Neutral rating and a $510 price target. The firm launched coverage of the life science tools sector with a “feet in the shallow end of the pool” approach. Piper said it only recommends buying Twist Bioscience because of its growing exposure to next-generation drug discovery and development. The firm noted that headwinds from biotech and academic spending, as well as exposure to China, are likely to improve in the near term. Even so, the analyst said Piper wants to see the next major growth drivers emerge before recommending more stocks in the sector. The firm added that investors “can buy multi-year growth compounding stocks early, middle, and late into their growth cycles but would simply prefer to wait out a couple quarters for the sector to perform like it did pre-COVID.”
Thermo Fisher Scientific Inc. (NYSE:TMO) focuses on advancing life sciences research, solving complex analytical challenges, improving laboratory productivity, and supporting patient health through diagnostics and the development and manufacturing of life-changing therapies.
6. Lockheed Martin Corporation (NYSE:LMT)
Point72 Asset Management’s Stake Value: $178,466,092
Dividend Yield as of June 26: 2.72%
On June 25, Jefferies lowered its price recommendation on Lockheed Martin Corporation (NYSE:LMT) to $575 from $595. It reiterated a Hold rating on the stock. The firm expects second-quarter revenue growth to accelerate to 5%, but trimmed its earnings-per-share estimate to $6.80 from $6.89. That forecast also falls below the consensus estimate of $7.22, as Jefferies expects weaker margins in the company’s Aeronautics and Space businesses.
During the Q1 2026 earnings call, Senior Vice President and CFO Evan Scott said the company was reaffirming its full-year 2026 financial guidance. He said the outlook remains in line with the expectations shared in January, including mid-single-digit sales growth, profit of $8.4 billion to $8.7 billion, and free cash flow between $6.5 billion and $6.8 billion.
Scott added that margins are expected to improve as the year moves forward, with most of the improvement coming in the second half of 2026. He said the gains should be supported by the achievement of key production milestones and the retirement of major program risks.
Lockheed Martin Corporation (NYSE:LMT) is an aerospace and defense technology company. It operates through four business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.
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