Axxcess Wealth Management LLC raised its position in Prospect Capital Co. (NASDAQ:PSEC – Get Rating) by 16.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,089 shares of the financial services provider’s stock after purchasing an additional 8,308 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Prospect Capital were worth $406,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in shares of Prospect Capital by 23.2% in the 1st quarter. Van ECK Associates Corp now owns 3,933,957 shares of the financial services provider’s stock worth $32,574,000 after purchasing an additional 741,781 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Prospect Capital by 15.2% during the 1st quarter. Advisors Asset Management Inc. now owns 711,926 shares of the financial services provider’s stock valued at $5,895,000 after buying an additional 93,874 shares during the period. Mckinley Capital Management LLC Delaware raised its holdings in shares of Prospect Capital by 0.5% during the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 560,830 shares of the financial services provider’s stock valued at $3,920,000 after buying an additional 2,898 shares during the period. First Republic Investment Management Inc. raised its holdings in shares of Prospect Capital by 14.5% during the 1st quarter. First Republic Investment Management Inc. now owns 537,632 shares of the financial services provider’s stock valued at $4,452,000 after buying an additional 68,235 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Prospect Capital by 100.7% during the 1st quarter. Northern Trust Corp now owns 300,640 shares of the financial services provider’s stock valued at $2,489,000 after buying an additional 150,857 shares during the period. 7.50% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
PSEC has been the topic of several analyst reports. StockNews.com initiated coverage on Prospect Capital in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Wells Fargo & Company raised their target price on Prospect Capital from $5.75 to $6.00 and gave the company an “underweight” rating in a report on Friday, November 11th.
Prospect Capital Price Performance
Prospect Capital (NASDAQ:PSEC – Get Rating) last issued its quarterly earnings data on Monday, August 29th. The financial services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Prospect Capital had a return on equity of 9.50% and a net margin of 36.40%. The firm had revenue of $184.62 million during the quarter, compared to analyst estimates of $179.74 million. During the same quarter last year, the firm earned $0.17 EPS. Sell-side analysts expect that Prospect Capital Co. will post 0.96 earnings per share for the current fiscal year.
Prospect Capital Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Thursday, February 16th. Stockholders of record on Friday, January 27th will be given a $0.06 dividend. The ex-dividend date is Thursday, January 26th. This represents a $0.72 annualized dividend and a dividend yield of 9.24%. Prospect Capital’s payout ratio is 112.50%.
About Prospect Capital
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.
- Get a free copy of the StockNews.com research report on Prospect Capital (PSEC)
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