Great West Life Assurance Co. Can Has $13,580,000 Stake in THL Credit, Inc. (TCRD)
Great West Life Assurance Co. Can maintained its stake in THL Credit, Inc. (NASDAQ:TCRD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,424,920 shares of the investment management company’s stock at the end of the third quarter. Great West Life Assurance Co. Can’s holdings in THL Credit were worth $13,580,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Confluence Investment Management LLC raised its stake in THL Credit by 4.2% in the second quarter. Confluence Investment Management LLC now owns 933,783 shares of the investment management company’s stock valued at $10,393,000 after buying an additional 37,951 shares in the last quarter. Nuveen Fund Advisors LLC acquired a new stake in THL Credit during the second quarter valued at approximately $2,181,000. Freestone Capital Holdings LLC raised its stake in THL Credit by 269.3% in the second quarter. Freestone Capital Holdings LLC now owns 178,279 shares of the investment management company’s stock valued at $1,984,000 after buying an additional 129,998 shares in the last quarter. BlackRock Group LTD raised its stake in THL Credit by 14.6% in the second quarter. BlackRock Group LTD now owns 168,099 shares of the investment management company’s stock valued at $1,871,000 after buying an additional 21,378 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in THL Credit by 7.2% in the second quarter. Van ECK Associates Corp now owns 146,073 shares of the investment management company’s stock valued at $1,626,000 after buying an additional 9,806 shares in the last quarter. Institutional investors and hedge funds own 42.75% of the company’s stock.
THL Credit, Inc. (NASDAQ:TCRD) opened at 10.21 on Friday. The stock’s 50 day moving average is $10.17 and its 200-day moving average is $10.20. THL Credit, Inc. has a 1-year low of $8.58 and a 1-year high of $11.84.
THL Credit (NASDAQ:TCRD) last released its earnings results on Wednesday, November 9th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $21.60 million for the quarter, compared to analyst estimates of $20.47 million. THL Credit had a return on equity of 11.82% and a net margin of 5.92%. THL Credit’s revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share. On average, equities research analysts predict that THL Credit, Inc. will post $1.37 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 10.58%. The ex-dividend date of this dividend was Tuesday, December 13th. THL Credit’s payout ratio is currently 675.04%.
A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of THL Credit from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 11th. National Securities reduced their target price on shares of THL Credit from $12.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, September 23rd. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.80.
In related news, CEO Christopher J. Flynn purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The stock was acquired at an average price of $10.32 per share, for a total transaction of $25,800.00. Following the transaction, the chief executive officer now directly owns 32,095 shares of the company’s stock, valued at approximately $331,220.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sam W. Tillinghast purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The stock was bought at an average price of $10.34 per share, with a total value of $51,700.00. The disclosure for this purchase can be found here. Corporate insiders own 0.88% of the company’s stock.
THL Credit Company Profile
THL Credit, Inc is an externally managed, non-diversified closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies.
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