Goldman Sachs Group Inc. decreased its position in shares of Solar Capital Ltd. (NASDAQ:SLRC) by 18.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,521 shares of the financial services provider’s stock after selling 5,413 shares during the period. Goldman Sachs Group Inc.’s holdings in Solar Capital were worth $532,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. UBS Group AG raised its stake in Solar Capital by 13.5% in the first quarter. UBS Group AG now owns 1,594,885 shares of the financial services provider’s stock worth $36,060,000 after buying an additional 189,227 shares during the last quarter. Muzinich & Co. Inc. raised its stake in Solar Capital by 24.3% in the first quarter. Muzinich & Co. Inc. now owns 1,564,743 shares of the financial services provider’s stock worth $35,379,000 after buying an additional 306,142 shares during the last quarter. Yorktown Management & Research Co Inc raised its stake in Solar Capital by 5.4% in the first quarter. Yorktown Management & Research Co Inc now owns 1,240,000 shares of the financial services provider’s stock worth $28,036,000 after buying an additional 63,707 shares during the last quarter. Clough Capital Partners L P raised its stake in Solar Capital by 12.0% in the first quarter. Clough Capital Partners L P now owns 825,572 shares of the financial services provider’s stock worth $18,666,000 after buying an additional 88,141 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Solar Capital by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 500,548 shares of the financial services provider’s stock worth $11,317,000 after buying an additional 2,580 shares during the last quarter. 62.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of Solar Capital Ltd. (SLRC) traded up 0.89% during mid-day trading on Monday, reaching $21.55. The company’s stock had a trading volume of 17,487 shares. The firm’s 50 day moving average is $21.81 and its 200-day moving average is $21.98. Solar Capital Ltd. has a 52-week low of $19.26 and a 52-week high of $22.94.

Solar Capital (NASDAQ:SLRC) last announced its earnings results on Tuesday, August 1st. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $33.89 million for the quarter, compared to analyst estimates of $36.51 million. Solar Capital had a return on equity of 7.30% and a net margin of 54.87%. Analysts predict that Solar Capital Ltd. will post $1.62 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Stockholders of record on Thursday, September 21st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.49%. The ex-dividend date of this dividend is Wednesday, September 20th. Solar Capital’s dividend payout ratio (DPR) is presently 85.11%.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/08/21/goldman-sachs-group-inc-has-532000-position-in-solar-capital-ltd-slrc.html.

SLRC has been the topic of a number of analyst reports. Zacks Investment Research raised Solar Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub lowered Solar Capital from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Keefe, Bruyette & Woods set a $23.00 price objective on Solar Capital and gave the company a “hold” rating in a research note on Thursday, August 3rd. National Securities reaffirmed a “buy” rating and set a $24.00 price objective on shares of Solar Capital in a research note on Monday, May 8th. Finally, J P Morgan Chase & Co lowered Solar Capital from an “overweight” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.88.

Solar Capital Company Profile

Solar Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in privately held the United States middle market companies.

Want to see what other hedge funds are holding SLRC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Solar Capital Ltd. (NASDAQ:SLRC).

Institutional Ownership by Quarter for Solar Capital (NASDAQ:SLRC)

Receive News & Stock Ratings for Solar Capital Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solar Capital Ltd. and related stocks with our FREE daily email newsletter.