Cetera Advisors LLC bought a new stake in Solar Capital Ltd. (NASDAQ:SLRC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 9,900 shares of the financial services provider’s stock, valued at approximately $208,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new stake in shares of Solar Capital in the fourth quarter valued at approximately $44,000. Acadian Asset Management LLC bought a new stake in shares of Solar Capital during the fourth quarter worth $111,000. Northern Trust Corp lifted its position in shares of Solar Capital by 6.3% during the fourth quarter. Northern Trust Corp now owns 10,566 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 624 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Solar Capital by 13.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 11,516 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. lifted its position in shares of Solar Capital by 9.3% during the fourth quarter. Mraz Amerine & Associates Inc. now owns 11,763 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 58.11% of the company’s stock.
SLRC has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Solar Capital from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Raymond James began coverage on Solar Capital in a research note on Tuesday, April 16th. They set an “outperform” rating and a $22.50 price target on the stock. National Securities restated a “buy” rating and set a $25.00 price target on shares of Solar Capital in a research note on Wednesday, May 8th. BidaskClub downgraded Solar Capital from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. Finally, Wells Fargo & Co raised their price target on Solar Capital from $18.00 to $19.00 and gave the stock a “market perform” rating in a research note on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $22.70.
Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings results on Monday, May 6th. The financial services provider reported $0.44 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.44. Solar Capital had a return on equity of 8.05% and a net margin of 46.58%. The business had revenue of $39.26 million for the quarter, compared to analysts’ expectations of $40.30 million. On average, analysts anticipate that Solar Capital Ltd. will post 1.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Thursday, June 20th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Wednesday, June 19th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.88%. Solar Capital’s payout ratio is currently 92.66%.
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Solar Capital Profile
Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.
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