Nationwide Fund Advisors bought a new stake in shares of TPG Specialty Lending Inc (NYSE:TSLX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,200 shares of the financial services provider’s stock, valued at approximately $256,000.
Several other institutional investors and hedge funds also recently made changes to their positions in TSLX. Pinebridge Investments L.P. lifted its position in TPG Specialty Lending by 1.9% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,102 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 94 shares during the period. Summit Global Investments raised its holdings in TPG Specialty Lending by 8.4% in the second quarter. Summit Global Investments now owns 24,513 shares of the financial services provider’s stock worth $501,000 after buying an additional 1,904 shares during the last quarter. CIBC World Markets Inc. raised its holdings in TPG Specialty Lending by 9.8% in the second quarter. CIBC World Markets Inc. now owns 26,008 shares of the financial services provider’s stock worth $532,000 after buying an additional 2,327 shares during the last quarter. Caxton Associates LP raised its holdings in TPG Specialty Lending by 9.1% in the second quarter. Caxton Associates LP now owns 35,091 shares of the financial services provider’s stock worth $718,000 after buying an additional 2,922 shares during the last quarter. Finally, National Asset Management Inc. raised its holdings in TPG Specialty Lending by 45.1% in the second quarter. National Asset Management Inc. now owns 29,303 shares of the financial services provider’s stock worth $600,000 after buying an additional 9,114 shares during the last quarter. 62.93% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have issued reports on the stock. Zacks Investment Research raised shares of TPG Specialty Lending from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Friday, November 10th. SunTrust Banks reissued a “buy” rating and set a $22.00 price objective on shares of TPG Specialty Lending in a report on Friday, November 10th. BidaskClub cut shares of TPG Specialty Lending from a “sell” rating to a “strong sell” rating in a report on Thursday, November 9th. Finally, National Securities boosted their price objective on shares of TPG Specialty Lending from $19.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $21.75.
TPG Specialty Lending (NYSE:TSLX) last announced its earnings results on Tuesday, November 7th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.08. The company had revenue of $48.86 million during the quarter, compared to analyst estimates of $48.58 million. TPG Specialty Lending had a net margin of 56.43% and a return on equity of 12.63%. During the same period in the previous year, the business posted $0.51 earnings per share. equities analysts predict that TPG Specialty Lending Inc will post 2.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 15th were given a $0.39 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 7.85%. TPG Specialty Lending’s payout ratio is currently 79.59%.
TPG Specialty Lending Profile
TPG Specialty Lending, Inc is an externally managed, closed-end, non-diversified management investment company. The Company is a specialty finance company focused on lending to middle-market companies. It seeks to generate current income primarily in the United States-domiciled middle-market companies through direct originations of senior secured loans and originations of mezzanine and unsecured loans and investments in corporate bonds and equity securities.
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