Ameriprise Financial Inc. Has $6.98 Million Position in Main Street Capital Co. (NYSE:MAIN)

Ameriprise Financial Inc. increased its position in Main Street Capital Co. (NYSE:MAIN) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,193 shares of the financial services provider’s stock after buying an additional 2,394 shares during the quarter. Ameriprise Financial Inc. owned 0.14% of Main Street Capital worth $6,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in MAIN. Wealthstar Advisors LLC acquired a new stake in Main Street Capital during the 4th quarter valued at approximately $1,326,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Main Street Capital during the 4th quarter valued at approximately $957,000. Nomura Asset Management Co. Ltd. increased its position in Main Street Capital by 270.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,301 shares of the financial services provider’s stock valued at $545,000 after purchasing an additional 6,793 shares during the period. AssuredPartners Investment Advisors LLC acquired a new stake in Main Street Capital during the 4th quarter valued at approximately $385,000. Finally, Morgan Dempsey Capital Management LLC acquired a new stake in Main Street Capital during the 4th quarter valued at approximately $6,007,000. Institutional investors and hedge funds own 20.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group decreased their target price on shares of Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Oppenheimer restated a “market perform” rating on shares of Main Street Capital in a report on Tuesday, May 13th. Finally, Truist Financial cut their price target on Main Street Capital from $62.00 to $54.00 and set a “hold” rating on the stock in a report on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Main Street Capital has an average rating of “Hold” and an average target price of $52.80.

Insider Buying and Selling

In related news, insider David L. Magdol sold 100,000 shares of the stock in a transaction on Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the sale, the insider now directly owns 377,182 shares of the company’s stock, valued at approximately $21,895,415.10. This represents a 20.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $6,966,000.00. Following the completion of the sale, the chief executive officer now directly owns 402,371 shares of the company’s stock, valued at $23,357,636.55. The trade was a 22.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.09% of the stock is owned by company insiders.

Main Street Capital Price Performance

Main Street Capital stock opened at $55.25 on Friday. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 10.01 and a beta of 0.86. Main Street Capital Co. has a 52-week low of $45.00 and a 52-week high of $63.32. The stock’s 50 day moving average price is $54.38 and its two-hundred day moving average price is $56.47. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08.

Main Street Capital (NYSE:MAIN) last issued its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The company had revenue of $137.05 million for the quarter, compared to analysts’ expectations of $137.50 million. On average, equities analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current year.

Main Street Capital Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.255 dividend. This is a boost from Main Street Capital’s previous monthly dividend of $0.25. This represents a $3.06 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend is Monday, September 8th. Main Street Capital’s dividend payout ratio (DPR) is currently 50.93%.

Main Street Capital Profile

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.