Legal & General Group Plc Buys 95,177 Shares of Main Street Capital Corporation $MAIN

Legal & General Group Plc increased its stake in Main Street Capital Corporation (NYSE:MAIN) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 719,967 shares of the financial services provider’s stock after purchasing an additional 95,177 shares during the quarter. Legal & General Group Plc’s holdings in Main Street Capital were worth $43,479,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MAIN. Van ECK Associates Corp raised its holdings in Main Street Capital by 100.9% in the 3rd quarter. Van ECK Associates Corp now owns 2,448,201 shares of the financial services provider’s stock worth $155,681,000 after purchasing an additional 1,229,863 shares during the period. UBS Group AG raised its holdings in Main Street Capital by 160.7% in the 3rd quarter. UBS Group AG now owns 866,884 shares of the financial services provider’s stock worth $55,125,000 after purchasing an additional 534,374 shares during the period. Childress Capital Advisors LLC raised its holdings in Main Street Capital by 165.2% in the 4th quarter. Childress Capital Advisors LLC now owns 293,733 shares of the financial services provider’s stock worth $17,739,000 after purchasing an additional 182,973 shares during the period. JPMorgan Chase & Co. raised its holdings in Main Street Capital by 90.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 382,450 shares of the financial services provider’s stock worth $24,320,000 after purchasing an additional 181,733 shares during the period. Finally, HRT Financial LP raised its holdings in Main Street Capital by 147.7% in the 2nd quarter. HRT Financial LP now owns 213,431 shares of the financial services provider’s stock worth $12,613,000 after purchasing an additional 127,270 shares during the period. 20.31% of the stock is owned by institutional investors.

Main Street Capital Price Performance

NYSE:MAIN opened at $51.25 on Friday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.11. The business’s 50-day simple moving average is $53.35 and its two-hundred day simple moving average is $57.59. The stock has a market cap of $4.77 billion, a PE ratio of 10.79 and a beta of 0.76. Main Street Capital Corporation has a 52 week low of $48.95 and a 52 week high of $67.77.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.11). Main Street Capital had a net margin of 74.86% and a return on equity of 12.01%. The business had revenue of $73.44 million for the quarter, compared to the consensus estimate of $145.23 million. As a group, analysts forecast that Main Street Capital Corporation will post 3.78 EPS for the current fiscal year.

Main Street Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 8th will be issued a $0.265 dividend. This represents a c) annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Tuesday, September 8th. Main Street Capital’s payout ratio is 65.68%.

Analyst Upgrades and Downgrades

A number of research firms have commented on MAIN. Wells Fargo & Company began coverage on Main Street Capital in a report on Friday, May 22nd. They set an “equal weight” rating and a $50.00 price target on the stock. Wall Street Zen cut Main Street Capital from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Royal Bank Of Canada decreased their price target on Main Street Capital from $66.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, May 14th. Citizens Jmp decreased their price target on Main Street Capital from $74.00 to $70.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Finally, Truist Financial decreased their price target on Main Street Capital from $60.00 to $53.00 and set a “hold” rating on the stock in a report on Tuesday, May 19th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $59.14.

About Main Street Capital

Main Street Capital Corporation (NYSE: MAIN) is a publicly traded business development company that provides flexible debt and equity capital to lower middle market companies in the United States. Headquartered in Houston, Texas, Main Street Capital was formed in 2007 and operates under the Investment Company Act of 1940. The firm’s management services are provided by Main Street Capital Management, L.P., which focuses on identifying growing private companies with enterprise values typically between $10 million and $150 million.

Main Street Capital’s primary offerings include first-lien senior secured loans, second-lien loans, subordinated debt, and equity co-investments or minority equity positions.