Bank of New York Mellon Corp Has $371,000 Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Bank of New York Mellon Corp increased its stake in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 10.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,376 shares of the financial services provider’s stock after purchasing an additional 1,660 shares during the quarter. Bank of New York Mellon Corp’s holdings in Sixth Street Specialty Lending were worth $371,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TSLX. Precision Wealth Strategies LLC bought a new position in Sixth Street Specialty Lending in the fourth quarter valued at about $205,000. UBS Group AG boosted its position in Sixth Street Specialty Lending by 4.2% during the 4th quarter. UBS Group AG now owns 479,926 shares of the financial services provider’s stock worth $10,366,000 after buying an additional 19,486 shares during the period. Steward Partners Investment Advisory LLC increased its position in Sixth Street Specialty Lending by 20.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 10,135 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 1,714 shares during the period. Stifel Financial Corp raised its stake in shares of Sixth Street Specialty Lending by 7.0% during the fourth quarter. Stifel Financial Corp now owns 477,079 shares of the financial services provider’s stock valued at $10,305,000 after acquiring an additional 31,233 shares during the last quarter. Finally, Evoke Wealth LLC lifted its holdings in shares of Sixth Street Specialty Lending by 17.8% during the fourth quarter. Evoke Wealth LLC now owns 70,172 shares of the financial services provider’s stock worth $1,516,000 after purchasing an additional 10,587 shares during the period. Institutional investors own 70.25% of the company’s stock.

Analysts Set New Price Targets

Separately, Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.67.

Insider Activity

In related news, Director Judy S. Slotkin purchased 7,015 shares of Sixth Street Specialty Lending stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $19.90 per share, for a total transaction of $139,598.50. Following the completion of the acquisition, the director now owns 18,726 shares of the company’s stock, valued at approximately $372,647.40. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 3.30% of the stock is currently owned by company insiders.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX opened at $20.32 on Thursday. The company has a market capitalization of $1.89 billion, a PE ratio of 8.19 and a beta of 1.06. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 1.07. Sixth Street Specialty Lending, Inc. has a twelve month low of $19.02 and a twelve month high of $22.35. The firm has a fifty day simple moving average of $20.89 and a 200 day simple moving average of $21.17.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. Sixth Street Specialty Lending had a return on equity of 13.76% and a net margin of 44.55%. The firm had revenue of $121.82 million during the quarter, compared to analyst estimates of $120.33 million. During the same period last year, the company posted $0.58 EPS. On average, sell-side analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.46 per share. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. The ex-dividend date is Monday, September 16th. This represents a $1.84 annualized dividend and a dividend yield of 9.06%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 74.19%.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.