TCW Group Inc. lessened its position in shares of Solar Capital Ltd. (NASDAQ:SLRC) by 39.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,000 shares of the financial services provider’s stock after selling 8,600 shares during the period. TCW Group Inc.’s holdings in Solar Capital were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of SLRC. Bank of America Corp DE increased its holdings in Solar Capital by 23.4% during the 1st quarter. Bank of America Corp DE now owns 15,693 shares of the financial services provider’s stock worth $354,000 after acquiring an additional 2,976 shares during the period. Russell Investments Group Ltd. bought a new stake in Solar Capital during the 2nd quarter worth approximately $217,000. Acadian Asset Management LLC bought a new stake in Solar Capital during the 2nd quarter worth approximately $2,389,000. Eagle Global Advisors LLC increased its holdings in Solar Capital by 36.9% during the 2nd quarter. Eagle Global Advisors LLC now owns 18,539 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 5,000 shares during the period. Finally, Sei Investments Co. increased its holdings in Solar Capital by 2.4% during the 2nd quarter. Sei Investments Co. now owns 34,100 shares of the financial services provider’s stock worth $746,000 after acquiring an additional 792 shares during the period. 62.93% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on SLRC shares. Ladenburg Thalmann Financial Services raised shares of Solar Capital from a “neutral” rating to a “buy” rating in a report on Monday, November 6th. BidaskClub lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Keefe, Bruyette & Woods set a $23.00 price target on shares of Solar Capital and gave the stock a “hold” rating in a report on Thursday, August 3rd. Zacks Investment Research lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a report on Friday, November 3rd. Finally, National Securities increased their price target on shares of Solar Capital from $24.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Solar Capital has a consensus rating of “Hold” and an average price target of $23.35.
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Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.01). Solar Capital had a net margin of 50.29% and a return on equity of 7.32%. The business had revenue of $36.15 million during the quarter, compared to analysts’ expectations of $35.95 million. analysts forecast that Solar Capital Ltd. will post 1.6 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 22nd will be paid a $0.41 dividend. This is a boost from Solar Capital’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.47%. Solar Capital’s dividend payout ratio is 95.24%.
Solar Capital Profile
Solar Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in privately held the United States middle market companies.
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