Truist Financial Corp Acquires 13,323 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Truist Financial Corp increased its position in Prospect Capital Co. (NASDAQ:PSECGet Rating) by 8.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 173,361 shares of the financial services provider’s stock after purchasing an additional 13,323 shares during the period. Truist Financial Corp’s holdings in Prospect Capital were worth $1,436,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PSEC. UMB Bank N A MO purchased a new position in shares of Prospect Capital in the fourth quarter worth $31,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Prospect Capital in the fourth quarter worth $51,000. First Horizon Advisors Inc. increased its stake in shares of Prospect Capital by 250.8% in the fourth quarter. First Horizon Advisors Inc. now owns 7,915 shares of the financial services provider’s stock worth $66,000 after buying an additional 5,659 shares during the period. Karp Capital Management Corp purchased a new position in shares of Prospect Capital in the fourth quarter worth $84,000. Finally, Carmel Capital Partners LLC purchased a new position in shares of Prospect Capital in the fourth quarter worth $85,000. 7.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PSEC shares. StockNews.com started coverage on shares of Prospect Capital in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Wells Fargo & Company reduced their price objective on shares of Prospect Capital from $7.00 to $6.50 and set an “underweight” rating on the stock in a research report on Monday, April 25th.

Prospect Capital Stock Up 0.7 %

Shares of Prospect Capital stock opened at $7.42 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $7.34 and its two-hundred day simple moving average is $7.93. The company has a market cap of $2.91 billion, a P/E ratio of 3.37 and a beta of 0.87. Prospect Capital Co. has a 12-month low of $6.66 and a 12-month high of $9.06.

Prospect Capital (NASDAQ:PSECGet Rating) last announced its earnings results on Monday, May 9th. The financial services provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. Prospect Capital had a net margin of 126.76% and a return on equity of 8.29%. The firm had revenue of $181.43 million for the quarter, compared to analysts’ expectations of $170.47 million. Research analysts anticipate that Prospect Capital Co. will post 0.8 EPS for the current year.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Monday, August 29th will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.70%. The ex-dividend date is Friday, August 26th. Prospect Capital’s dividend payout ratio (DPR) is presently 32.73%.

Prospect Capital Company Profile

(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.

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

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