Axa decreased its holdings in shares of Solar Capital Ltd. (NASDAQ:SLRC) by 10.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,100 shares of the financial services provider’s stock after selling 15,100 shares during the quarter. Axa owned 0.31% of Solar Capital worth $2,803,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. FDx Advisors Inc. purchased a new position in Solar Capital in the second quarter valued at about $207,000. Texas Yale Capital Corp. purchased a new position in Solar Capital in the second quarter valued at about $276,000. California Public Employees Retirement System purchased a new position in Solar Capital in the second quarter valued at about $356,000. Chicago Partners Investment Group LLC grew its stake in Solar Capital by 14.2% in the third quarter. Chicago Partners Investment Group LLC now owns 95,165 shares of the financial services provider’s stock valued at $1,931,000 after purchasing an additional 11,867 shares in the last quarter. Finally, Pekin Singer Strauss Asset Management IL grew its stake in Solar Capital by 15.8% in the third quarter. Pekin Singer Strauss Asset Management IL now owns 118,285 shares of the financial services provider’s stock valued at $2,529,000 after purchasing an additional 16,150 shares in the last quarter. Institutional investors and hedge funds own 59.14% of the company’s stock.
SLRC has been the topic of a number of recent research reports. Wells Fargo & Co downgraded Solar Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 4th. ValuEngine downgraded Solar Capital from a “hold” rating to a “sell” rating in a research note on Monday, October 8th. BidaskClub upgraded Solar Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. National Securities restated a “buy” rating and issued a $25.00 target price on shares of Solar Capital in a research note on Tuesday, November 6th. Finally, Zacks Investment Research downgraded Solar Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Solar Capital has an average rating of “Buy” and a consensus price target of $23.50.
Solar Capital (NASDAQ:SLRC) last released its quarterly earnings results on Monday, November 5th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). The company had revenue of $37.01 million for the quarter, compared to the consensus estimate of $39.59 million. Solar Capital had a return on equity of 8.12% and a net margin of 48.83%. On average, equities research analysts forecast that Solar Capital Ltd. will post 1.77 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be paid a dividend of $0.41 per share. The ex-dividend date is Wednesday, December 19th. This represents a $1.64 annualized dividend and a dividend yield of 7.67%. Solar Capital’s dividend payout ratio (DPR) is presently 101.23%.
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Solar Capital Profile
Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.
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