Legal & General Group Plc Buys 84,772 Shares of Prospect Capital Corporation (PSEC)
Legal & General Group Plc raised its stake in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,047,945 shares of the financial services provider’s stock after buying an additional 84,772 shares during the period. Legal & General Group Plc owned 0.29% of Prospect Capital worth $7,037,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PSEC. Regal Investment Advisors LLC raised its holdings in Prospect Capital by 19.3% during the second quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock valued at $137,000 after buying an additional 2,720 shares in the last quarter. Advisory Services Network LLC raised its holdings in Prospect Capital by 0.6% during the second quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock valued at $144,000 after buying an additional 105 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Prospect Capital by 8.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,659 shares of the financial services provider’s stock valued at $160,000 after buying an additional 1,507 shares in the last quarter. Global X MANAGEMENT CO LLC raised its holdings in Prospect Capital by 70.9% during the third quarter. Global X MANAGEMENT CO LLC now owns 26,456 shares of the financial services provider’s stock valued at $178,000 after buying an additional 10,977 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in Prospect Capital by 86.0% during the second quarter. Verition Fund Management LLC now owns 25,520 shares of the financial services provider’s stock valued at $207,000 after buying an additional 11,803 shares in the last quarter. Institutional investors own 15.72% of the company’s stock.
In other news, insider M Grier Eliasek bought 65,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average cost of $5.65 per share, with a total value of $367,250.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John F. Barry bought 264,937 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were purchased at an average cost of $6.82 per share, for a total transaction of $1,806,870.34. Following the completion of the transaction, the chief executive officer now owns 28,576,578 shares of the company’s stock, valued at $194,892,261.96. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 2,603,596 shares of company stock worth $17,699,103. 7.10% of the stock is owned by company insiders.
A number of equities analysts have recently commented on the company. Zacks Investment Research lowered Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. National Securities dropped their price objective on Prospect Capital from $5.00 to $4.00 and set a “sell” rating on the stock in a research note on Tuesday, November 14th. ValuEngine upgraded Prospect Capital from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. BidaskClub lowered Prospect Capital from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Finally, Raymond James Financial upgraded Prospect Capital from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.17.
Prospect Capital Corporation (NASDAQ:PSEC) opened at $6.80 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.63 and a quick ratio of 2.63. The company has a market capitalization of $2,447.08, a PE ratio of 8.38 and a beta of 0.56. Prospect Capital Corporation has a 12 month low of $5.51 and a 12 month high of $9.58.
Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). The business had revenue of $158.58 million during the quarter, compared to the consensus estimate of $161.00 million. Prospect Capital had a return on equity of 8.63% and a net margin of 27.00%. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. research analysts predict that Prospect Capital Corporation will post 0.72 EPS for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.59%. Prospect Capital’s payout ratio is presently 144.00%.
About Prospect Capital
Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
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