Sumitomo Mitsui Trust Group Inc. Purchases 56,778 Shares of Fidus Investment Corporation $FDUS

Sumitomo Mitsui Trust Group Inc. increased its position in Fidus Investment Corporation (NASDAQ:FDUS) by 37.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 209,241 shares of the asset manager’s stock after buying an additional 56,778 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.59% of Fidus Investment worth $4,239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Muzinich & Co. Inc. raised its position in Fidus Investment by 106.5% during the 2nd quarter. Muzinich & Co. Inc. now owns 190,228 shares of the asset manager’s stock worth $3,843,000 after purchasing an additional 98,107 shares during the last quarter. Columbus Macro LLC boosted its position in Fidus Investment by 24.5% during the third quarter. Columbus Macro LLC now owns 401,460 shares of the asset manager’s stock valued at $8,134,000 after acquiring an additional 78,917 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Fidus Investment by 159.1% in the 2nd quarter. D.A. Davidson & CO. now owns 115,872 shares of the asset manager’s stock valued at $2,341,000 after purchasing an additional 71,145 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Fidus Investment by 473.0% in the second quarter. Y Intercept Hong Kong Ltd now owns 62,361 shares of the asset manager’s stock worth $1,260,000 after purchasing an additional 51,477 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Fidus Investment by 10.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 359,415 shares of the asset manager’s stock worth $7,260,000 after buying an additional 35,138 shares in the last quarter. Institutional investors own 28.14% of the company’s stock.

Fidus Investment Stock Down 1.5%

FDUS stock opened at $19.91 on Monday. The firm has a market capitalization of $725.32 million, a PE ratio of 8.44 and a beta of 0.73. Fidus Investment Corporation has a twelve month low of $16.70 and a twelve month high of $23.55. The stock’s 50 day moving average is $19.59 and its 200-day moving average is $20.42.

Fidus Investment (NASDAQ:FDUS) last announced its quarterly earnings results on Thursday, November 6th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. Fidus Investment had a return on equity of 10.91% and a net margin of 54.03%.The business had revenue of $37.25 million during the quarter, compared to the consensus estimate of $37.29 million. On average, equities research analysts anticipate that Fidus Investment Corporation will post 2.28 earnings per share for the current fiscal year.

Fidus Investment Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 29th. Investors of record on Friday, December 19th were issued a dividend of $0.43 per share. The ex-dividend date was Friday, December 19th. This represents a $1.72 annualized dividend and a yield of 8.6%. Fidus Investment’s payout ratio is 72.88%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Fidus Investment from $21.50 to $21.00 and set an “outperform” rating for the company in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Fidus Investment in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $21.75.

About Fidus Investment

Fidus Investment Corporation (NASDAQ: FDUS) is a closed-end, externally managed business development company (BDC) that provides specialized financing solutions to U.S. middle-market companies. Operated by Fidus Investment Advisors, LLC, a registered investment adviser, the company is regulated under the Investment Company Act of 1940 and trades on the Nasdaq Capital Market.

The firm focuses on structuring senior secured and unitranche loans, mezzanine debt and equity investments for established businesses across a range of industries.