What Dividend Stocks Did This Finance-Focused Congressman Buy?

U.S. Rep. Trey Hollingsworth (R-IN) has made more than 90 trades in the last three years.

Since 2017, Hollingsworth has been a representative for Indiana's 9th Congressional District. During that time, he has been a member of the House Financial Services Committee, which oversees many issues including banking, consumer credit and monetary policy, international finance, insurance, public and private housing, securities and exchanges and urban development.

During the third quarter, Hollingsworth bought more than 1 million shares of stocks, primarily financial stocks, according to Capitol Trades.

Hollingsworth's top-traded stocks tend to be Owl Rock Capital Corp ORCC and JPMorgan Chase & Co. JPM, both of which are finance stocks. It appeared Hollingsworth had been buying large chunks of Owl Rock Capital since May 11, most commonly ranging from between $50,000 to $100,000 in shares, with his biggest purchase between $250,000 to $500,000 in shares, ending on June 16.

See Also: This Congresswoman Is Selling Energy Stocks But Purchased These 2 Dividend Paying Retailers

National Bank of Canada NTIOF is offering a dividend yield of 5.62% or $2.71 per share annually, utilizing quarterly payments, with a frequent track record of increasing its dividends for six consecutive years.

National Bank of Canada offers integrated financial services, commercial banking, wealth management and a financial markets group, primarily in the province of Quebec and the city of Toronto.

The National Bank of Canada is the sixth-largest Canadian bank, reporting a third-quarter net income of $826 million, down 2% from $839 million in the third quarter of 2021. This can be attributed to strong performance in the business segments partially offset by higher provisions for credit losses recorded to reflect a less favorable macroeconomic outlook in the third quarter of 2022.

In an undisclosed filing made on Sept. 1, Hollingsworth purchased in the range of $500,000 to $1 million National Bank of Canada shares for $65.95 per share, reported Capitol Trades.

JPMorgan Chase is offering a dividend yield of 3.16% or $4 per share annually through quarterly payments, with a strong track record of increasing its dividends for eight consecutive years.

JPMorgan Chase is one of the largest financial institutions in the U.S., with nearly $4 trillion in assets.

JPMorgan has more than 4,700 branches and over 16,000 ATMs with a global presence beyond 60 countries. JPMorgan reported third-quarter revenues of $33.5 billion, up 4.37% from the consensus estimates and reported earnings per share of $3.12.

In an undisclosed filing on Oct. 4, Hollingsworth purchased in the range of $500,000 to $1 million JPMorgan shares for an undisclosed price, as reported by Capitol Trades.

Congressional Trading: Sen. Elizabeth Warren and Sen. Steve Daines want to ban members of Congress and their spouses from owning or trading stocks.

Photo: photoeu via Shutterstock.