New Mountain Finance Corporation (NMFC) Stake Increased by Legal & General Group Plc

Legal & General Group Plc boosted its holdings in New Mountain Finance Corporation (NYSE:NMFC) by 11.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 219,315 shares of the investment management company’s stock after purchasing an additional 21,683 shares during the quarter. Legal & General Group Plc owned about 0.29% of New Mountain Finance worth $3,120,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in NMFC. Royal Bank of Canada grew its stake in shares of New Mountain Finance by 9.0% during the 2nd quarter. Royal Bank of Canada now owns 352,817 shares of the investment management company’s stock worth $5,134,000 after purchasing an additional 29,189 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of New Mountain Finance by 25.7% during the 3rd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 572,991 shares of the investment management company’s stock worth $8,165,000 after purchasing an additional 117,223 shares during the period. Ameriprise Financial Inc. grew its stake in shares of New Mountain Finance by 54.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 24,191 shares of the investment management company’s stock worth $352,000 after purchasing an additional 8,516 shares during the period. California Public Employees Retirement System grew its stake in shares of New Mountain Finance by 43.0% during the 2nd quarter. California Public Employees Retirement System now owns 34,600 shares of the investment management company’s stock worth $503,000 after purchasing an additional 10,400 shares during the period. Finally, Capital Fund Management S.A. grew its stake in shares of New Mountain Finance by 94.3% during the 2nd quarter. Capital Fund Management S.A. now owns 96,938 shares of the investment management company’s stock worth $1,410,000 after purchasing an additional 47,038 shares during the period. Hedge funds and other institutional investors own 39.29% of the company’s stock.

In other New Mountain Finance news, insider James Stone purchased 12,000 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were purchased at an average price of $14.19 per share, for a total transaction of $170,280.00. Following the completion of the acquisition, the insider now owns 87,438 shares of the company’s stock, valued at approximately $1,240,745.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Shiraz Kajee purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was acquired at an average price of $14.08 per share, for a total transaction of $28,160.00. Following the acquisition, the chief financial officer now directly owns 4,000 shares of the company’s stock, valued at approximately $56,320. The disclosure for this purchase can be found here. Insiders have acquired a total of 26,100 shares of company stock worth $369,068 over the last ninety days. 9.73% of the stock is owned by corporate insiders.

Shares of New Mountain Finance Corporation (NYSE:NMFC) opened at $13.75 on Monday. New Mountain Finance Corporation has a 12 month low of $13.55 and a 12 month high of $15.00. The stock has a market cap of $1,040.00, a PE ratio of 8.87 and a beta of 0.58. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.36 annualized dividend and a dividend yield of 9.89%. New Mountain Finance’s dividend payout ratio is currently 87.74%.

A number of equities analysts have recently weighed in on the stock. ValuEngine raised shares of New Mountain Finance from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Keefe, Bruyette & Woods set a $15.00 price objective on shares of New Mountain Finance and gave the company a “hold” rating in a research note on Thursday, October 5th. Finally, BidaskClub cut shares of New Mountain Finance from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 2nd.

TRADEMARK VIOLATION NOTICE: “New Mountain Finance Corporation (NMFC) Stake Increased by Legal & General Group Plc” was first reported by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright laws. The correct version of this article can be viewed at https://www.com-unik.info/2017/12/25/new-mountain-finance-corporation-nmfc-stake-increased-by-legal-general-group-plc.html.

New Mountain Finance Company Profile

New Mountain Finance Corporation is a closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation through the sourcing and origination of debt securities at all levels of the capital structure, including first and second lien debt, notes, bonds and mezzanine securities.

Institutional Ownership by Quarter for New Mountain Finance (NYSE:NMFC)

Receive News & Ratings for New Mountain Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for New Mountain Finance and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit