Northern Trust Corp decreased its holdings in shares of Prospect Capital Co. (NASDAQ:PSEC) by 3.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 196,012 shares of the financial services provider’s stock after selling 7,222 shares during the quarter. Northern Trust Corp’s holdings in Prospect Capital were worth $1,237,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of Prospect Capital during the 3rd quarter valued at about $277,000. Standard Life Aberdeen plc boosted its position in shares of Prospect Capital by 33.3% during the 3rd quarter. Standard Life Aberdeen plc now owns 100,000 shares of the financial services provider’s stock valued at $734,000 after acquiring an additional 25,000 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Prospect Capital by 2.6% during the 3rd quarter. Legal & General Group Plc now owns 1,450,756 shares of the financial services provider’s stock valued at $10,641,000 after acquiring an additional 36,882 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in shares of Prospect Capital during the 3rd quarter valued at about $173,000. Finally, Reynders McVeigh Capital Management LLC acquired a new position in shares of Prospect Capital during the 3rd quarter valued at about $137,000. Hedge funds and other institutional investors own 12.99% of the company’s stock.
NASDAQ PSEC opened at $6.74 on Friday. Prospect Capital Co. has a 12 month low of $5.70 and a 12 month high of $7.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 8.53 and a beta of 0.69.
The business also recently announced a monthly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Tuesday, April 30th will be given a $0.06 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.72 dividend on an annualized basis and a yield of 10.68%. Prospect Capital’s payout ratio is currently 91.14%.
Several brokerages have recently weighed in on PSEC. Zacks Investment Research cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. ValuEngine raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, February 27th. Finally, Barclays cut shares of Prospect Capital from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $7.00 to $6.00 in a research report on Tuesday, January 22nd. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. The company currently has a consensus rating of “Sell” and an average target price of $6.00.
In related news, insider John F. Barry bought 100,000 shares of the firm’s stock in a transaction on Monday, February 11th. The shares were bought at an average price of $6.39 per share, with a total value of $639,000.00. Following the completion of the transaction, the insider now directly owns 38,335,551 shares of the company’s stock, valued at approximately $244,964,170.89. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.20% of the company’s stock.
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Prospect Capital Profile
Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.
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