Chicago Partners Investment Group LLC boosted its position in shares of Solar Capital Ltd. (NASDAQ:SLRC) by 14.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,165 shares of the financial services provider’s stock after purchasing an additional 11,867 shares during the period. Chicago Partners Investment Group LLC’s holdings in Solar Capital were worth $1,931,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pekin Singer Strauss Asset Management IL grew its holdings in Solar Capital by 15.8% during the 3rd quarter. Pekin Singer Strauss Asset Management IL now owns 118,285 shares of the financial services provider’s stock worth $2,529,000 after acquiring an additional 16,150 shares in the last quarter. United Services Automobile Association grew its holdings in Solar Capital by 16.6% during the 2nd quarter. United Services Automobile Association now owns 311,348 shares of the financial services provider’s stock worth $6,364,000 after acquiring an additional 44,220 shares in the last quarter. California Public Employees Retirement System acquired a new position in Solar Capital during the 2nd quarter worth $356,000. Millennium Management LLC grew its holdings in Solar Capital by 124.7% during the 2nd quarter. Millennium Management LLC now owns 271,282 shares of the financial services provider’s stock worth $5,545,000 after acquiring an additional 150,538 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in Solar Capital by 10.8% during the 2nd quarter. Van ECK Associates Corp now owns 238,734 shares of the financial services provider’s stock worth $4,880,000 after acquiring an additional 23,259 shares in the last quarter. 59.63% of the stock is owned by institutional investors and hedge funds.
NASDAQ SLRC opened at $21.04 on Thursday. Solar Capital Ltd. has a one year low of $19.70 and a one year high of $22.55. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $877.34 million, a PE ratio of 12.99, a price-to-earnings-growth ratio of 2.31 and a beta of 0.65.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Thursday, December 20th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 7.79%. The ex-dividend date is Wednesday, December 19th. Solar Capital’s dividend payout ratio (DPR) is presently 101.23%.
SLRC has been the subject of several recent analyst reports. BidaskClub lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Zacks Investment Research lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. ValuEngine lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a report on Monday, October 8th. National Securities reissued a “buy” rating and set a $25.00 price objective on shares of Solar Capital in a report on Thursday, August 9th. Finally, Wells Fargo & Co lowered shares of Solar Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, October 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Solar Capital has a consensus rating of “Hold” and a consensus target price of $23.67.
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About Solar Capital
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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