In this article, we will be looking at the top 5 dividend stocks to buy according to Bernard Horn’s Polaris Capital. If you want to see our comprehensive analysis of Horn’s history, investment philosophy, and hedge fund performance, go directly to 10 Dividend Stocks to Buy According to Bernard Horn’s Polaris Capital.
5. ALLETE, Inc. (NYSE:ALE)
Polaris Capital’s Stake Value: $42.84 million
Percentage of 13F portfolio: 1.36%
Total Number of Hedge Fund Holders: 12
Dividend Yield: 4.19%
Up next we have ALLETE, Inc. (NYSE: ALE), a Minnesota-based energy company that provides electricity, water, and natural gas utility services to customers in Wisconsin and Minnesota. As of the end of September, Bernard Horn’s Polaris Capital owns 719,758 shares in the energy company valued at $42.84 million.
ALLETE, Inc. (NYSE: ALE) posted an EPS of $0.53 for the third quarter of 2021, missing estimates by -$0.18. The energy firm posted quarterly revenue of $345.40 million, beating analysts’ forecasts by $45.20 million.
In the third quarter of 2021, 12 hedge funds out of 867 tracked by Insider Monkey held shares worth $70.78 million in ALLETE, Inc. (NYSE: ALE). This shows a slight downward trend, as 10 hedge funds held shares worth $73.02 million in the energy firm a quarter earlier.
4. AbbVie Inc. (NYSE:ABBV)
Polaris Capital’s Stake Value: $52.32 million
Percentage of Polaris Capital’s 13F portfolio: 1.66%
Total Number of Hedge Fund Holders: 81
Dividend Yield: 4.84%
Then we have AbbVie Inc. (NYSE: ABBV), a research-based pharmaceutical company that develops, manufactures, and sells pharmaceutical products around the world. As reported by the end of September, Bernard Horn owns 485,115 shares in AbbVie Inc. (NYSE: ABBV), at a value of $52.32 million which represents a 1.66% slice of his overall portfolio.
For Q3 2021, the company reported an EPS of $3.33, beating estimates by $0.11.
As of the third quarter of 2021, 81 hedge funds reported owning shares in AbbVie Inc. (NYSE: ABBV), with a combined value of $4.14 billion.
On November 24, research firm Truist maintained its ‘Buy’ rating on the company stock, raising the price target to $135 from $118. The firm’s analyst Robyn Karnauskas noted that the FDA’s labeling discussion for RA was one of the catalysts for the company’s growth in 2021.
3. United Insurance Holdings Corp. (NASDAQ:UIHC)
Polaris Capital’s Stake Value: $720,000
Percentage of Polaris Capital’s 13F portfolio: 0.02%
Total Number of Hedge Fund Holders: 9
Dividend Yield: 5.49%
United Insurance Holdings Corp. (NASDAQ: UIHC) is a Florida-based insurance company that provides residential, personal, commercial property, and casualty insurance services in the United States.
Out of the 867 hedge funds in Insider Monkey’s database, 9 hedge funds reported owning shares in United Insurance Holdings Corp. (NASDAQ: UIHC) by end of September. The total value of these holdings stood at $5.72 million.
As of the third quarter of 2021, the insurance company reported an EPS of -$0.36, which missed consensus estimates by $0.03. Quarterly revenue stood at $162.74 million, which fell below analysts’ forecasts by $11.63 million.
2. The Williams Companies, Inc. (NYSE:WMB)
Polaris Capital’s Stake Value: $51.75 million
Percentage of Polaris Capital’s 13F portfolio: 1.64%
Total Number of Hedge Fund Holders: 40
Dividend Yield: 5.81%
According to the regulatory filings for the third quarter, Bernard Horn reported owning 1,995,200 shares in The Williams Companies, Inc. (NYSE: WMB), with a combined value of $51.75 million, which represents 1.64% of his overall portfolio.
The Williams Companies, Inc. (NYSE: WMB) is an energy infrastructure company that deals in the exploration, production, transportation, sale and processing of natural gas and petroleum products. With operations primarily based in the United States, the company reported a dividend yield of 5.81% over the last quarter.
Investment firm Longleaf Partners Fund mentioned The Williams Companies, Inc. (NYSE: WMB) in its Q2 2021 investor letter. Here’s what the fund said:
“Williams (14%, 0.51%), the natural gas pipeline operator, was also a positive contributor. The value grew slowly but steadily thanks to continued cash flow growth at Williams’s main Transco pipeline, as well as good volume trends (up 11% YOY) in its Northeast assets. The stock traded up with gas price strength as the quarter went on. We believe that management is open to more transactions to grow and simplify value per share, and as industry conditions improve, this becomes more likely.”
1. Hercules Capital, Inc. (NYSE:HTGC)
Polaris Capital’s Stake Value: $1.76 million
Percentage of Polaris Capital’s 13F portfolio: 0.05%
Total Number of Hedge Fund Holders: 12
Dividend Yield: 7.97%
Number one on Bernard Horn’s list of top dividend stocks to buy is Hercules Capital, Inc. (NYSE: HTGC), a business development company that offers venture debt, growth capital, and senior secured loans to a range of growing companies in the United States. As reported by regulatory filings for the third quarter, Bernard Horn’s Polaris Capital owns 105,998 shares in the company, valued at $1.76 million.
The company reported earnings per share of $0.33 for the third quarter, which beat estimates by $0.01.
As of the third quarter of 2021, 12 hedge funds out of 867 tracked by Insider Monkey reported owning shares worth $35.91 million in Hercules Capital, Inc. (NYSE: HTGC). In comparison, 16 hedge funds held shares worth $57.72 million in the company a quarter earlier.
You can also take a peek at 10 Best Stocks To Buy and Hold For 5 Years and Billionaire Daniel Sundheim’s Top 10 Picks.
