Truist Financial Corp Has $1.06 Million Stock Holdings in Prospect Capital Co. (NASDAQ:PSEC)

Truist Financial Corp decreased its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 192,188 shares of the financial services provider’s stock after selling 8,453 shares during the period. Truist Financial Corp’s holdings in Prospect Capital were worth $1,063,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rothschild Investment LLC purchased a new stake in shares of Prospect Capital during the 2nd quarter worth about $27,000. Headlands Technologies LLC lifted its stake in Prospect Capital by 2,266.9% in the first quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 7,254 shares during the last quarter. Edge Financial Advisors LLC bought a new stake in Prospect Capital in the first quarter worth approximately $55,000. Cutter & CO Brokerage Inc. acquired a new position in shares of Prospect Capital during the 1st quarter worth $65,000. Finally, Empowered Funds LLC bought a new position in shares of Prospect Capital during the 1st quarter valued at $73,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Prospect Capital Price Performance

Shares of Prospect Capital stock opened at $5.08 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $5.18 and a 200-day simple moving average of $5.39. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 14.94 and a beta of 1.00. Prospect Capital Co. has a 1-year low of $4.69 and a 1-year high of $6.30.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. The firm had revenue of $212.26 million during the quarter. Prospect Capital had a net margin of 28.07% and a return on equity of 13.53%. During the same period in the prior year, the firm earned $0.23 EPS.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, October 29th will be issued a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 14.17%. The ex-dividend date is Tuesday, October 29th. Prospect Capital’s dividend payout ratio (DPR) is currently 211.76%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Wells Fargo & Company lowered their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday, August 30th.

Prospect Capital Profile

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.