TPG Specialty Lending Inc (TSLX) Shares Bought by Fmr LLC
Fmr LLC grew its position in shares of TPG Specialty Lending Inc (NYSE:TSLX) by 513.5% during the second quarter, Holdings Channel reports. The institutional investor owned 2,341,317 shares of the financial services provider’s stock after buying an additional 1,959,686 shares during the quarter. Fmr LLC’s holdings in TPG Specialty Lending were worth $42,003,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in TSLX. LGT Capital Partners LTD. bought a new position in TPG Specialty Lending during the 2nd quarter worth approximately $7,233,000. The Manufacturers Life Insurance Company lifted its holdings in TPG Specialty Lending by 13,938.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 263,925 shares of the financial services provider’s stock worth $4,714,000 after buying an additional 262,045 shares during the last quarter. Dimension Capital Management LLC raised its position in shares of TPG Specialty Lending by 41.6% during the 1st quarter. Dimension Capital Management LLC now owns 480,377 shares of the financial services provider’s stock worth $8,580,000 after purchasing an additional 141,049 shares during the period. Strs Ohio raised its position in shares of TPG Specialty Lending by 2.9% during the 2nd quarter. Strs Ohio now owns 5,006,805 shares of the financial services provider’s stock worth $89,822,000 after purchasing an additional 139,070 shares during the period. Finally, Progeny 3 Inc. raised its position in shares of TPG Specialty Lending by 35.1% during the 1st quarter. Progeny 3 Inc. now owns 400,027 shares of the financial services provider’s stock worth $7,144,000 after purchasing an additional 104,000 shares during the period. 60.19% of the stock is currently owned by institutional investors.
In other TPG Specialty Lending news, Director Richard A. Higginbotham bought 2,000 shares of the stock in a transaction that occurred on Friday, August 24th. The shares were purchased at an average cost of $19.73 per share, for a total transaction of $39,460.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at $394,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is owned by company insiders.
TPG Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.09. The business had revenue of $66.40 million for the quarter, compared to analysts’ expectations of $58.63 million. TPG Specialty Lending had a return on equity of 12.40% and a net margin of 53.60%. During the same period in the prior year, the firm earned $0.57 EPS. research analysts expect that TPG Specialty Lending Inc will post 2.02 EPS for the current year.
The firm also recently announced a special dividend, which will be paid on Friday, September 28th. Investors of record on Friday, August 31st will be given a $0.08 dividend. This is a boost from TPG Specialty Lending’s previous special dividend of $0.06. This represents a yield of 7.9%. The ex-dividend date of this dividend is Thursday, August 30th. TPG Specialty Lending’s dividend payout ratio (DPR) is currently 78.00%.
A number of analysts have recently weighed in on the company. TheStreet upgraded TPG Specialty Lending from a “c+” rating to a “b” rating in a research report on Tuesday, July 31st. Keefe, Bruyette & Woods set a $22.00 price target on TPG Specialty Lending and gave the stock a “buy” rating in a research report on Thursday, August 2nd. National Securities reiterated a “buy” rating and set a $21.00 price target on shares of TPG Specialty Lending in a research report on Monday, August 6th. Zacks Investment Research upgraded TPG Specialty Lending from a “hold” rating to a “strong-buy” rating and set a $24.00 price target on the stock in a research report on Tuesday. Finally, SunTrust Banks reiterated a “buy” rating and set a $22.00 price target on shares of TPG Specialty Lending in a research report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. TPG Specialty Lending presently has an average rating of “Buy” and an average target price of $21.43.
About TPG Specialty Lending
TPG Specialty Lending, Inc is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), mezzanine debt, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.
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