Sumitomo Mitsui Trust Group Inc. Grows Position in MidCap Financial Investment Co. (NASDAQ:MFIC)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,756 shares of the company’s stock after buying an additional 946 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.19% of MidCap Financial Investment worth $2,420,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new position in MidCap Financial Investment during the 2nd quarter valued at approximately $81,000. Accel Wealth Management purchased a new position in shares of MidCap Financial Investment in the 2nd quarter worth approximately $151,000. HB Wealth Management LLC purchased a new position in shares of MidCap Financial Investment in the 2nd quarter worth approximately $153,000. Essex Financial Services Inc. purchased a new position in shares of MidCap Financial Investment in the 2nd quarter worth approximately $154,000. Finally, ProShare Advisors LLC purchased a new position in shares of MidCap Financial Investment in the 2nd quarter worth approximately $159,000. Hedge funds and other institutional investors own 28.45% of the company’s stock.

Wall Street Analyst Weigh In

MFIC has been the subject of a number of recent research reports. Wells Fargo & Company dropped their target price on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. JPMorgan Chase & Co. dropped their target price on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, July 29th. Keefe, Bruyette & Woods upgraded MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 target price for the company in a report on Monday, August 5th. Finally, Compass Point upgraded MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, MidCap Financial Investment currently has an average rating of “Moderate Buy” and a consensus target price of $14.86.

MidCap Financial Investment Price Performance

Shares of MFIC stock opened at $13.82 on Tuesday. MidCap Financial Investment Co. has a 52-week low of $12.26 and a 52-week high of $16.36. The company has a debt-to-equity ratio of 1.25, a quick ratio of 3.02 and a current ratio of 8.51. The firm has a market capitalization of $1.30 billion, a P/E ratio of 8.81 and a beta of 1.50. The stock has a 50 day moving average price of $13.46 and a 200 day moving average price of $14.36.

MidCap Financial Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Tuesday, December 10th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 11.00%. The ex-dividend date is Tuesday, December 10th. MidCap Financial Investment’s dividend payout ratio is 97.44%.

MidCap Financial Investment Profile

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.