Legal & General Group Plc Has $4.13 Million Stake in New Mountain Finance Corp. (NMFC)
Legal & General Group Plc grew its position in New Mountain Finance Corp. (NYSE:NMFC) by 10.4% during the second quarter, Holdings Channel reports. The firm owned 303,410 shares of the investment management company’s stock after buying an additional 28,667 shares during the period. Legal & General Group Plc’s holdings in New Mountain Finance were worth $4,134,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Standard Life Aberdeen plc bought a new stake in shares of New Mountain Finance in the 2nd quarter valued at $852,000. Cliffwater LLC boosted its stake in shares of New Mountain Finance by 1.5% in the 2nd quarter. Cliffwater LLC now owns 305,398 shares of the investment management company’s stock valued at $4,153,000 after purchasing an additional 4,626 shares during the last quarter. Comerica Bank bought a new stake in shares of New Mountain Finance in the 2nd quarter valued at $144,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of New Mountain Finance in the 1st quarter valued at $1,437,000. Finally, Wedbush Securities Inc. boosted its stake in shares of New Mountain Finance by 41.8% in the 2nd quarter. Wedbush Securities Inc. now owns 20,775 shares of the investment management company’s stock valued at $283,000 after purchasing an additional 6,125 shares during the last quarter. 36.99% of the stock is currently owned by institutional investors.
A number of research firms have recently commented on NMFC. ValuEngine lowered shares of New Mountain Finance from a “hold” rating to a “sell” rating in a research note on Monday. Zacks Investment Research raised shares of New Mountain Finance from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, August 14th. Finally, TheStreet raised shares of New Mountain Finance from a “c+” rating to a “b” rating in a research note on Friday, August 10th.
Shares of NYSE NMFC opened at $13.55 on Monday. The firm has a market cap of $1.03 billion, a P/E ratio of 10.50 and a beta of 0.54. New Mountain Finance Corp. has a 12-month low of $12.05 and a 12-month high of $14.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.95 and a current ratio of 0.95.
New Mountain Finance (NYSE:NMFC) last issued its earnings results on Tuesday, August 7th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). The company had revenue of $54.60 million for the quarter, compared to the consensus estimate of $53.10 million. New Mountain Finance had a return on equity of 10.11% and a net margin of 46.52%. equities research analysts predict that New Mountain Finance Corp. will post 1.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 10.04%. The ex-dividend date of this dividend is Thursday, September 13th. New Mountain Finance’s dividend payout ratio is presently 105.43%.
About New Mountain Finance
New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.
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