Legal & General Group Plc Has $8.65 Million Holdings in Prospect Capital Corporation $PSEC

Legal & General Group Plc lifted its stake in Prospect Capital Corporation (NASDAQ:PSEC) by 21.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,321,477 shares of the financial services provider’s stock after buying an additional 593,563 shares during the period. Legal & General Group Plc owned about 0.71% of Prospect Capital worth $8,652,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Van ECK Associates Corp increased its holdings in Prospect Capital by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 10,255,640 shares of the financial services provider’s stock valued at $28,203,000 after purchasing an additional 866,860 shares in the last quarter. GraniteShares Advisors LLC acquired a new stake in Prospect Capital during the 4th quarter valued at $2,745,000. Tudor Investment Corp ET AL increased its holdings in Prospect Capital by 12.1% during the 3rd quarter. Tudor Investment Corp ET AL now owns 2,604,286 shares of the financial services provider’s stock valued at $7,162,000 after purchasing an additional 282,119 shares in the last quarter. SMH Capital Advisors Inc. increased its holdings in Prospect Capital by 201.5% during the 3rd quarter. SMH Capital Advisors Inc. now owns 438,847 shares of the financial services provider’s stock valued at $1,167,000 after purchasing an additional 293,311 shares in the last quarter. Finally, UBS Group AG increased its holdings in Prospect Capital by 44.5% during the 4th quarter. UBS Group AG now owns 4,989,986 shares of the financial services provider’s stock valued at $12,924,000 after purchasing an additional 1,536,808 shares in the last quarter. 9.06% of the stock is owned by institutional investors and hedge funds.

Prospect Capital Price Performance

NASDAQ:PSEC opened at $2.28 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.79 and a current ratio of 0.79. The stock’s 50-day simple moving average is $2.53 and its 200 day simple moving average is $2.64. The company has a market cap of $1.14 billion, a P/E ratio of -6.16 and a beta of 0.78. Prospect Capital Corporation has a 52-week low of $2.11 and a 52-week high of $3.50.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Thursday, May 7th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The business had revenue of $150.07 million for the quarter, compared to the consensus estimate of $163.23 million. Prospect Capital had a positive return on equity of 12.03% and a negative net margin of 10.42%.

Prospect Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 27th will be given a dividend of $0.035 per share. This represents a c) dividend on an annualized basis and a yield of 18.4%. The ex-dividend date of this dividend is Thursday, August 27th. Prospect Capital’s payout ratio is -113.51%.

Analyst Upgrades and Downgrades

PSEC has been the topic of several recent analyst reports. Wall Street Zen upgraded Prospect Capital from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Wells Fargo & Company reduced their target price on Prospect Capital from $2.50 to $2.00 and set an “underweight” rating on the stock in a report on Tuesday, May 12th. Finally, Weiss Ratings upgraded Prospect Capital from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, Prospect Capital presently has a consensus rating of “Sell” and a consensus price target of $2.00.

Insiders Place Their Bets

In other Prospect Capital news, CEO John F. Barry purchased 433,000 shares of the stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $2.32 per share, with a total value of $1,004,560.00. Following the completion of the transaction, the chief executive officer directly owned 87,122,376 shares in the company, valued at $202,123,912.32. This represents a 0.50% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.03% of the stock is currently owned by company insiders.

About Prospect Capital

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.