Raymond James Financial Services Advisors Inc. Raises Stock Position in Prospect Capital Co. (NASDAQ:PSEC)

Raymond James Financial Services Advisors Inc. increased its stake in Prospect Capital Co. (NASDAQ:PSEC – Get Rating) by 10.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 147,463 shares of the financial services provider’s stock after acquiring an additional 14,408 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Prospect Capital were worth $914,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSEC. JPMorgan Chase & Co. increased its holdings in Prospect Capital by 548.2% in the 1st quarter. JPMorgan Chase & Co. now owns 94,483 shares of the financial services provider’s stock worth $782,000 after acquiring an additional 79,907 shares in the last quarter. Doyle Wealth Management purchased a new stake in shares of Prospect Capital during the first quarter worth $116,000. Merit Financial Group LLC purchased a new stake in shares of Prospect Capital during the first quarter worth $714,000. Northern Trust Corp grew its holdings in shares of Prospect Capital by 100.7% during the first quarter. Northern Trust Corp now owns 300,640 shares of the financial services provider’s stock worth $2,489,000 after buying an additional 150,857 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Prospect Capital by 5.0% during the first quarter. Guggenheim Capital LLC now owns 38,212 shares of the financial services provider’s stock worth $316,000 after buying an additional 1,825 shares in the last quarter. Hedge funds and other institutional investors own 7.03% of the company’s stock.

Prospect Capital Trading Up 1.9 %

Shares of PSEC stock opened at $7.48 on Friday. The company’s 50-day moving average price is $7.34 and its 200-day moving average price is $7.32. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.67. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 11.69 and a beta of 0.98. Prospect Capital Co. has a twelve month low of $6.09 and a twelve month high of $8.82.

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

Prospect Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, February 16th. Stockholders of record on Friday, January 27th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, January 26th. This represents a $0.72 annualized dividend and a dividend yield of 9.63%. Prospect Capital’s payout ratio is 112.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PSEC shares. StockNews.com started coverage on shares of Prospect Capital in a report on Wednesday, October 12th. They set a “hold” rating for the company. Wells Fargo & Company upped their target price 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.

About Prospect Capital

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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.