Legal & General Group Plc raised its position in New Mountain Finance Corporation (NYSE:NMFC) by 20.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,632 shares of the investment management company’s stock after acquiring an additional 33,648 shares during the period. Legal & General Group Plc owned approximately 0.26% of New Mountain Finance Corporation worth $2,871,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Muzinich & Co. Inc. lifted its stake in shares of New Mountain Finance Corporation by 51.9% during the first quarter. Muzinich & Co. Inc. now owns 3,193,736 shares of the investment management company’s stock worth $47,587,000 after buying an additional 1,091,245 shares during the period. UBS Group AG lifted its stake in shares of New Mountain Finance Corporation by 26.9% during the first quarter. UBS Group AG now owns 1,275,093 shares of the investment management company’s stock worth $18,999,000 after buying an additional 270,005 shares during the period. Round Table Services LLC lifted its stake in shares of New Mountain Finance Corporation by 22.7% during the second quarter. Round Table Services LLC now owns 1,300,398 shares of the investment management company’s stock worth $18,921,000 after buying an additional 240,229 shares during the period. Van ECK Associates Corp lifted its stake in shares of New Mountain Finance Corporation by 39.3% during the first quarter. Van ECK Associates Corp now owns 442,500 shares of the investment management company’s stock worth $6,593,000 after buying an additional 124,792 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its stake in shares of New Mountain Finance Corporation by 30.4% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 455,768 shares of the investment management company’s stock worth $6,631,000 after buying an additional 106,363 shares during the period. Institutional investors own 40.75% of the company’s stock.

Shares of New Mountain Finance Corporation (NYSE NMFC) opened at 13.55 on Tuesday. The stock’s 50 day moving average is $14.18 and its 200 day moving average is $14.49. New Mountain Finance Corporation has a 1-year low of $13.05 and a 1-year high of $15.00.

New Mountain Finance Corporation (NYSE:NMFC) last issued its earnings results on Tuesday, August 8th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. New Mountain Finance Corporation had a net margin of 65.22% and a return on equity of 10.15%. The business had revenue of $50.02 million during the quarter, compared to analysts’ expectations of $47.66 million. On average, equities research analysts expect that New Mountain Finance Corporation will post $1.36 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 10.04%. The ex-dividend date of this dividend is Thursday, September 14th. New Mountain Finance Corporation’s payout ratio is 86.62%.

Several equities research analysts have recently commented on the stock. BidaskClub downgraded shares of New Mountain Finance Corporation from a “hold” rating to a “sell” rating in a research note on Sunday, July 16th. Keefe, Bruyette & Woods set a $15.00 price objective on shares of New Mountain Finance Corporation and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Finally, Zacks Investment Research upgraded shares of New Mountain Finance Corporation from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Wednesday, July 12th.

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New Mountain Finance Corporation Company Profile

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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Institutional Ownership by Quarter for New Mountain Finance Corporation (NYSE:NMFC)

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