Ameriprise Financial Inc. Grows Position in Main Street Capital Co. (NYSE:MAIN)

Ameriprise Financial Inc. boosted its stake in Main Street Capital Co. (NYSE:MAIN) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 119,193 shares of the financial services provider’s stock after buying an additional 2,394 shares during the quarter. Ameriprise Financial Inc.’s holdings in Main Street Capital were worth $6,982,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Asset Planning Inc purchased a new stake in shares of Main Street Capital during the 4th quarter valued at $29,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Main Street Capital during the 4th quarter valued at $45,000. Colonial Trust Advisors purchased a new stake in shares of Main Street Capital during the 4th quarter valued at $46,000. Jones Financial Companies Lllp increased its position in shares of Main Street Capital by 31.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider’s stock valued at $77,000 after purchasing an additional 311 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in Main Street Capital by 34.2% in the 4th quarter. Signaturefd LLC now owns 1,494 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 381 shares during the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Main Street Capital

In other news, CEO Dwayne L. Hyzak sold 120,000 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the transaction, the chief executive officer now owns 402,371 shares of the company’s stock, valued at approximately $23,357,636.55. The trade was a 22.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David L. Magdol sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total value of $5,805,000.00. Following the transaction, the insider now directly owns 377,182 shares of the company’s stock, valued at $21,895,415.10. The trade was a 20.96% decrease in their position. The disclosure for this sale can be found here. Insiders own 4.09% of the company’s stock.

Main Street Capital Stock Down 0.2%

MAIN stock opened at $55.25 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $4.92 billion, a PE ratio of 10.01 and a beta of 0.86. Main Street Capital Co. has a twelve month low of $45.00 and a twelve month high of $63.32. The stock has a 50-day simple moving average of $54.38 and a two-hundred day simple moving average of $56.47.

Main Street Capital (NYSE:MAIN) last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. The business had revenue of $137.05 million during the quarter, compared to analyst estimates of $137.50 million. Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. On average, equities analysts predict that Main Street Capital Co. will post 4.11 EPS for the current fiscal year.

Main Street Capital Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.255 per share. This represents a $3.06 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date is Monday, September 8th. This is a positive change from Main Street Capital’s previous monthly dividend of $0.25. Main Street Capital’s payout ratio is presently 50.93%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MAIN shares. Oppenheimer reissued a “market perform” rating on shares of Main Street Capital in a report on Tuesday, May 13th. UBS Group decreased their price objective on Main Street Capital from $55.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Truist Financial decreased their price objective on Main Street Capital from $62.00 to $54.00 and set a “hold” rating for the company in a report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $52.80.

Main Street Capital Profile

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.