Legal & General Group Plc Has $12.51 Million Stock Holdings in Prospect Capital Co. (NASDAQ:PSEC)

Legal & General Group Plc decreased its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 5.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,898,651 shares of the financial services provider’s stock after selling 153,172 shares during the period. Legal & General Group Plc’s holdings in Prospect Capital were worth $12,508,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSEC. Nomura Asset Management Co. Ltd. acquired a new position in Prospect Capital in the fourth quarter worth approximately $44,000. PFG Advisors bought a new position in shares of Prospect Capital during the 4th quarter valued at $57,000. Independent Advisor Alliance acquired a new position in Prospect Capital during the fourth quarter worth $62,000. Samalin Investment Counsel LLC acquired a new stake in shares of Prospect Capital in the fourth quarter worth about $62,000. Finally, Cutter & CO Brokerage Inc. increased its holdings in shares of Prospect Capital by 27.8% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 3,467 shares during the last quarter. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Insider Buying and Selling at Prospect Capital

In other news, Director William Gremp acquired 19,100 shares of the stock in a transaction dated Tuesday, March 18th. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $81,939.00. Following the completion of the transaction, the director now owns 75,153 shares in the company, valued at approximately $322,406.37. This trade represents a 34.07 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John F. Barry bought 240,000 shares of Prospect Capital stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $4.20 per share, with a total value of $1,008,000.00. Following the completion of the transaction, the chief executive officer now owns 81,981,933 shares of the company’s stock, valued at $344,324,118.60. This trade represents a 0.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 2,548,000 shares of company stock valued at $10,970,715 in the last ninety days. Company insiders own 28.25% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a report on Saturday, April 12th.

Prospect Capital Trading Down 2.8 %

Prospect Capital stock opened at $3.48 on Thursday. The firm has a market capitalization of $1.55 billion, a PE ratio of -17.40 and a beta of 0.85. The business’s 50-day simple moving average is $4.13 and its 200-day simple moving average is $4.47. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. Prospect Capital Co. has a 52 week low of $3.39 and a 52 week high of $5.72.

Prospect Capital Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were given a dividend of $0.045 per share. This represents a yield of 12.47%. The ex-dividend date was Wednesday, February 26th. Prospect Capital’s dividend payout ratio (DPR) is currently -270.00%.

About Prospect Capital

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.