Envestnet Asset Management Inc. grew its holdings in Hercules Capital, Inc. (NYSE:HTGC – Get Rating) by 55.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,010 shares of the financial services provider’s stock after acquiring an additional 29,301 shares during the period. Envestnet Asset Management Inc.’s holdings in Hercules Capital were worth $1,106,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the business. Stephens Inc. AR grew its position in Hercules Capital by 3.7% in the second quarter. Stephens Inc. AR now owns 24,452 shares of the financial services provider’s stock worth $330,000 after acquiring an additional 867 shares in the last quarter. Orion Capital Management LLC boosted its holdings in shares of Hercules Capital by 33.3% during the 2nd quarter. Orion Capital Management LLC now owns 4,000 shares of the financial services provider’s stock worth $54,000 after buying an additional 1,000 shares during the period. Advisory Services Network LLC boosted its holdings in shares of Hercules Capital by 3.7% during the 2nd quarter. Advisory Services Network LLC now owns 33,343 shares of the financial services provider’s stock worth $450,000 after buying an additional 1,175 shares during the period. Guggenheim Capital LLC boosted its holdings in shares of Hercules Capital by 6.9% during the 1st quarter. Guggenheim Capital LLC now owns 18,237 shares of the financial services provider’s stock worth $330,000 after buying an additional 1,176 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in Hercules Capital by 4.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 27,135 shares of the financial services provider’s stock valued at $380,000 after purchasing an additional 1,203 shares during the last quarter. 23.79% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently commented on HTGC. StockNews.com upgraded shares of Hercules Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 7th. Piper Sandler cut their target price on shares of Hercules Capital from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Monday, October 3rd. Wells Fargo & Company cut their target price on shares of Hercules Capital from $15.50 to $14.50 and set an “overweight” rating for the company in a research note on Monday, October 24th. Oppenheimer cut shares of Hercules Capital from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $18.00 to $15.00 in a research note on Friday, July 29th. Finally, JMP Securities dropped their price objective on shares of Hercules Capital from $19.00 to $18.00 and set a “market outperform” rating for the company in a research note on Monday, August 1st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hercules Capital currently has a consensus rating of “Hold” and a consensus price target of $15.64.
Hercules Capital Price Performance
Hercules Capital Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Thursday, November 10th were issued a dividend of $0.36 per share. The ex-dividend date was Wednesday, November 9th. This represents a $1.44 dividend on an annualized basis and a yield of 10.03%. This is a positive change from Hercules Capital’s previous quarterly dividend of $0.35. Hercules Capital’s dividend payout ratio is currently 450.01%.
Insiders Place Their Bets
In other Hercules Capital news, CEO Scott Bluestein sold 100,000 shares of the stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $14.16, for a total transaction of $1,416,000.00. Following the sale, the chief executive officer now owns 946,621 shares of the company’s stock, valued at approximately $13,404,153.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.40% of the company’s stock.
About Hercules Capital
Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.
- Get a free copy of the StockNews.com research report on Hercules Capital (HTGC)
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