Essex Financial Services Inc. Grows Position in Hercules Capital, Inc. (NYSE:HTGC)

Essex Financial Services Inc. boosted its stake in Hercules Capital, Inc. (NYSE:HTGC) by 16.8% in the first quarter, Holdings Channel.com reports. The firm owned 15,565 shares of the financial services provider’s stock after acquiring an additional 2,234 shares during the quarter. Essex Financial Services Inc.’s holdings in Hercules Capital were worth $250,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HTGC. Victory Capital Management Inc. grew its stake in Hercules Capital by 5.7% during the fourth quarter. Victory Capital Management Inc. now owns 19,201 shares of the financial services provider’s stock worth $277,000 after buying an additional 1,042 shares during the period. AE Wealth Management LLC grew its stake in Hercules Capital by 6.3% during the fourth quarter. AE Wealth Management LLC now owns 18,598 shares of the financial services provider’s stock worth $268,000 after buying an additional 1,097 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Hercules Capital by 37.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 73,361 shares of the financial services provider’s stock worth $1,058,000 after buying an additional 19,956 shares during the period. US Bancorp DE grew its stake in Hercules Capital by 9.4% during the fourth quarter. US Bancorp DE now owns 51,060 shares of the financial services provider’s stock worth $737,000 after buying an additional 4,400 shares during the period. Finally, Vestmark Advisory Solutions Inc. grew its stake in Hercules Capital by 5.8% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 17,730 shares of the financial services provider’s stock worth $256,000 after buying an additional 978 shares during the period. Institutional investors own 27.42% of the company’s stock.

Several equities research analysts have issued reports on the stock. B. Riley boosted their price objective on shares of Hercules Capital from $16.50 to $18.50 and gave the stock a “buy” rating in a research note on Friday, April 30th. TheStreet raised shares of Hercules Capital from a “c+” rating to a “b” rating in a research report on Friday, March 12th. Zacks Investment Research cut shares of Hercules Capital from a “hold” rating to a “sell” rating and set a $18.00 target price on the stock. in a research report on Monday, May 3rd. Royal Bank of Canada initiated coverage on shares of Hercules Capital in a research report on Thursday, March 25th. They set an “outperform” rating and a $17.00 target price on the stock. Finally, Oppenheimer initiated coverage on shares of Hercules Capital in a research report on Monday, May 3rd. They set an “outperform” rating and a $17.50 target price on the stock. One analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $15.69.

In other Hercules Capital news, Director Thomas J. Fallon sold 15,000 shares of the stock in a transaction on Monday, March 15th. The shares were sold at an average price of $16.56, for a total transaction of $248,400.00. Following the sale, the director now directly owns 49,937 shares of the company’s stock, valued at $826,956.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Scott Bluestein sold 80,000 shares of the stock in a transaction on Thursday, March 18th. The stock was sold at an average price of $15.80, for a total transaction of $1,264,000.00. Following the sale, the chief executive officer now directly owns 923,086 shares in the company, valued at $14,584,758.80. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by corporate insiders.

HTGC opened at $17.27 on Friday. The firm has a market capitalization of $2.00 billion, a PE ratio of 6.19, a PEG ratio of 0.53 and a beta of 1.55. The company has a fifty day moving average of $17.05. The company has a quick ratio of 3.80, a current ratio of 3.80 and a debt-to-equity ratio of 0.94. Hercules Capital, Inc. has a 12-month low of $9.87 and a 12-month high of $17.72.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings results on Thursday, April 29th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.29. The firm had revenue of $68.76 million for the quarter, compared to analysts’ expectations of $67.68 million. Hercules Capital had a net margin of 113.37% and a return on equity of 12.23%. On average, sell-side analysts predict that Hercules Capital, Inc. will post 1.3 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 19th. Shareholders of record on Wednesday, May 12th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 9.03%. This is a boost from Hercules Capital’s previous quarterly dividend of $0.32. The ex-dividend date was Tuesday, May 11th. Hercules Capital’s dividend payout ratio is 92.09%.

Hercules Capital Profile

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.

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Institutional Ownership by Quarter for Hercules Capital (NYSE:HTGC)

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