Sumitomo Mitsui Trust Group Inc. Acquires 9,166 Shares of Fidus Investment Corporation (NASDAQ:FDUS)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Fidus Investment Corporation (NASDAQ:FDUS) by 11.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 90,486 shares of the asset manager’s stock after buying an additional 9,166 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Fidus Investment were worth $1,845,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. ORG Partners LLC bought a new position in shares of Fidus Investment in the 1st quarter worth about $29,000. Transce3nd LLC bought a new stake in Fidus Investment in the 4th quarter valued at about $32,000. Promus Capital LLC bought a new stake in Fidus Investment in the 4th quarter valued at about $43,000. Millstone Evans Group LLC bought a new stake in Fidus Investment in the 4th quarter valued at about $77,000. Finally, Private Advisor Group LLC bought a new stake in Fidus Investment in the 4th quarter valued at about $203,000. 28.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on FDUS shares. B. Riley started coverage on Fidus Investment in a research report on Tuesday, May 13th. They issued a “buy” rating and a $22.00 target price for the company. LADENBURG THALM/SH SH raised Fidus Investment from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 9th. Finally, Keefe, Bruyette & Woods cut their price target on Fidus Investment from $21.00 to $20.00 and set a “market perform” rating for the company in a research note on Tuesday, April 8th.

Fidus Investment Stock Performance

Shares of FDUS opened at $20.80 on Friday. The stock has a 50 day moving average price of $19.93 and a two-hundred day moving average price of $20.67. The firm has a market capitalization of $722.21 million, a P/E ratio of 8.89 and a beta of 0.92. Fidus Investment Corporation has a 52 week low of $16.70 and a 52 week high of $23.55.

Fidus Investment (NASDAQ:FDUS) last issued its quarterly earnings data on Thursday, May 8th. The asset manager reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $36.50 million during the quarter, compared to analyst estimates of $35.61 million. Fidus Investment had a return on equity of 11.48% and a net margin of 52.59%. On average, equities analysts forecast that Fidus Investment Corporation will post 2.28 earnings per share for the current year.

Fidus Investment Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Friday, June 13th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 10.39%. The ex-dividend date of this dividend was Friday, June 13th. Fidus Investment’s dividend payout ratio is presently 73.50%.

About Fidus Investment

Fidus Investment Corporation is a business development company. It specializing in leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, strategic acquisitions, mezzanine, growth capital, business expansion, lower middle market investments, debt investments, subordinated and second lien loans, senior secured and unitranche debt, preferred equity, warrants, subordinated debt, senior subordinated notes, junior secured loans, and unitranche loans.