Sumitomo Mitsui Trust Holdings Inc. Has $197,000 Holdings in Prospect Capital Co. (NASDAQ:PSEC)

Sumitomo Mitsui Trust Holdings Inc. cut its position in Prospect Capital Co. (NASDAQ:PSEC) by 88.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,901 shares of the financial services provider’s stock after selling 242,573 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Prospect Capital were worth $197,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSEC. Zimmermann Investment Management & Planning LLC boosted its holdings in Prospect Capital by 11.2% in the 4th quarter. Zimmermann Investment Management & Planning LLC now owns 20,077 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 2,024 shares during the period. Spire Wealth Management boosted its holdings in Prospect Capital by 5.7% in the 3rd quarter. Spire Wealth Management now owns 39,900 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 2,161 shares during the period. Triumph Capital Management boosted its holdings in Prospect Capital by 3.3% in the 3rd quarter. Triumph Capital Management now owns 77,291 shares of the financial services provider’s stock valued at $472,000 after purchasing an additional 2,438 shares during the period. Ausdal Financial Partners Inc. boosted its holdings in Prospect Capital by 9.6% in the 4th quarter. Ausdal Financial Partners Inc. now owns 29,254 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 2,573 shares during the period. Finally, Private Trust Co. NA boosted its holdings in Prospect Capital by 54.3% in the 4th quarter. Private Trust Co. NA now owns 7,736 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 2,722 shares during the period. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Prospect Capital Price Performance

NASDAQ:PSEC opened at $5.27 on Friday. The company has a 50-day moving average of $5.50 and a 200-day moving average of $5.71. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -26.35 and a beta of 1.00. Prospect Capital Co. has a 52 week low of $5.03 and a 52 week high of $6.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.07 and a current ratio of 1.07.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Prospect Capital had a negative net margin of 1.47% and a positive return on equity of 13.48%. The firm had revenue of $210.94 million during the quarter, compared to the consensus estimate of $226.14 million. As a group, equities research analysts anticipate that Prospect Capital Co. will post 0.82 earnings per share for the current fiscal year.

Prospect Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, May 21st. Investors of record on Friday, April 26th will be issued a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 13.66%. The ex-dividend date of this dividend is Thursday, April 25th. Prospect Capital’s dividend payout ratio is currently -359.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Prospect Capital from $5.50 to $5.75 and gave the stock an “underweight” rating in a report on Monday, January 29th. StockNews.com raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday.

Insider Activity at Prospect Capital

In other news, CFO Dask Kristin Lea Van purchased 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average cost of $5.44 per share, with a total value of $27,200.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $54,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 26.69% of the stock is currently owned by insiders.

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.