Landsberg Bennett & Dubbaneh LLC grew its stake in TPG Specialty Lending Inc (NYSE:TSLX) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,698 shares of the financial services provider’s stock after acquiring an additional 2,662 shares during the period. Landsberg Bennett & Dubbaneh LLC’s holdings in TPG Specialty Lending were worth $2,359,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. LGT Capital Partners LTD. grew its holdings in TPG Specialty Lending by 17.0% during the third quarter. LGT Capital Partners LTD. now owns 643,567 shares of the financial services provider’s stock worth $13,502,000 after purchasing an additional 93,567 shares during the period. Sound Income Strategies LLC grew its holdings in TPG Specialty Lending by 13.8% during the third quarter. Sound Income Strategies LLC now owns 1,237,141 shares of the financial services provider’s stock worth $25,955,000 after purchasing an additional 149,583 shares during the period. Lenox Wealth Advisors LLC bought a new position in TPG Specialty Lending during the third quarter worth about $28,000. Atria Investments LLC bought a new position in TPG Specialty Lending during the second quarter worth about $2,412,000. Finally, Royal Bank of Canada grew its holdings in TPG Specialty Lending by 2.9% during the second quarter. Royal Bank of Canada now owns 95,156 shares of the financial services provider’s stock worth $1,865,000 after purchasing an additional 2,638 shares during the period. Institutional investors own 59.40% of the company’s stock.
TPG Specialty Lending stock traded up $0.13 during midday trading on Friday, reaching $20.73. 4,422 shares of the company’s stock were exchanged, compared to its average volume of 198,608. TPG Specialty Lending Inc has a 52 week low of $17.75 and a 52 week high of $21.24. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 9.22, a P/E/G ratio of 11.03 and a beta of 0.62. The stock’s 50-day simple moving average is $20.75 and its 200 day simple moving average is $20.13.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, September 12th. This is an increase from TPG Specialty Lending’s previous quarterly dividend of $0.04. This represents a $1.56 annualized dividend and a yield of 7.53%. TPG Specialty Lending’s dividend payout ratio (DPR) is 69.33%.
TSLX has been the subject of a number of research analyst reports. Zacks Investment Research cut TPG Specialty Lending from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Wells Fargo & Co upgraded TPG Specialty Lending from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $20.50 to $21.00 in a report on Thursday, August 1st.
In related news, Director Hurley Doddy acquired 2,500 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $20.25 per share, for a total transaction of $50,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.40% of the company’s stock.
About TPG Specialty Lending
TPG Specialty Lending, Inc is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), mezzanine debt, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.
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