Prospect Capital Co. (NASDAQ:PSEC) Shares Bought by Truist Financial Corp

Truist Financial Corp raised its position in Prospect Capital Co. (NASDAQ:PSECGet Rating) by 3.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 194,978 shares of the financial services provider’s stock after acquiring an additional 6,588 shares during the period. Truist Financial Corp’s holdings in Prospect Capital were worth $1,209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc boosted its holdings in Prospect Capital by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 2,349,916 shares of the financial services provider’s stock valued at $16,485,000 after purchasing an additional 195,707 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in Prospect Capital by 15.2% in the 1st quarter. Advisors Asset Management Inc. now owns 711,926 shares of the financial services provider’s stock valued at $5,895,000 after purchasing an additional 93,874 shares during the last quarter. First Republic Investment Management Inc. boosted its holdings in Prospect Capital by 9.8% in the 2nd quarter. First Republic Investment Management Inc. now owns 590,348 shares of the financial services provider’s stock valued at $4,127,000 after purchasing an additional 52,716 shares during the last quarter. Mckinley Capital Management LLC Delaware boosted its holdings in Prospect Capital by 0.5% in the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 560,830 shares of the financial services provider’s stock valued at $3,920,000 after purchasing an additional 2,898 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Prospect Capital by 9.0% in the 2nd quarter. Northern Trust Corp now owns 327,752 shares of the financial services provider’s stock valued at $2,291,000 after purchasing an additional 27,112 shares during the last quarter. 7.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Prospect Capital from $5.75 to $6.00 and gave the stock an “underweight” rating in a report on Friday, November 11th. StockNews.com assumed coverage on shares of Prospect Capital in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $7.34 on Friday. The firm’s 50 day moving average price is $7.34 and its 200-day moving average price is $7.32. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.57. Prospect Capital Co. has a one year low of $6.09 and a one year high of $8.92. The firm has a market cap of $2.92 billion, a P/E ratio of 11.47 and a beta of 0.98.

Prospect Capital (NASDAQ:PSECGet Rating) last announced its earnings results on Wednesday, November 9th. The financial services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. Prospect Capital had a net margin of 36.40% and a return on equity of 9.50%. The firm had revenue of $202.67 million for the quarter, compared to the consensus estimate of $195.60 million. As a group, equities research analysts predict that Prospect Capital Co. will post 1.01 EPS for the current year.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, February 16th. Investors of record on Friday, January 27th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 9.81%. The ex-dividend date is Thursday, January 26th. Prospect Capital’s payout ratio is currently 112.50%.

About Prospect Capital

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Prospect Capital (NASDAQ:PSEC)

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