Legal & General Group Plc Acquires New Holdings in Sixth Street Specialty Lending, Inc. $TSLX

Legal & General Group Plc bought a new position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 787,794 shares of the financial services provider’s stock, valued at approximately $13,526,000. Legal & General Group Plc owned about 0.83% of Sixth Street Specialty Lending as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Burk Holdings LLC acquired a new position in Sixth Street Specialty Lending during the second quarter valued at approximately $51,000. Fifth Third Bancorp bought a new stake in shares of Sixth Street Specialty Lending during the 1st quarter worth $63,000. Advisory Services Network LLC bought a new stake in shares of Sixth Street Specialty Lending during the 3rd quarter worth $75,000. Frazier Financial Advisors LLC acquired a new position in Sixth Street Specialty Lending in the 2nd quarter valued at $83,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Sixth Street Specialty Lending in the 2nd quarter valued at $96,000. Institutional investors own 70.25% of the company’s stock.

Sixth Street Specialty Lending Price Performance

NYSE:TSLX opened at $18.75 on Monday. The stock has a market cap of $1.78 billion, a P/E ratio of 19.74 and a beta of 0.59. Sixth Street Specialty Lending, Inc. has a one year low of $16.04 and a one year high of $24.79. The company has a fifty day moving average price of $17.71 and a 200 day moving average price of $17.95. The company has a debt-to-equity ratio of 1.24, a current ratio of 9.83 and a quick ratio of 9.83.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.01. Sixth Street Specialty Lending had a net margin of 21.79% and a return on equity of 11.33%. The company had revenue of $97.84 million for the quarter, compared to analyst estimates of $95.28 million. During the same period last year, the business posted $0.56 EPS. Analysts anticipate that Sixth Street Specialty Lending, Inc. will post 1.74 earnings per share for the current year.

Sixth Street Specialty Lending Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.68 dividend on an annualized basis and a yield of 9.0%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is 176.84%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen raised shares of Sixth Street Specialty Lending from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research raised Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Sixth Street Specialty Lending in a research note on Thursday, August 13th. Wells Fargo & Company cut their price objective on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Finally, Truist Financial decreased their target price on Sixth Street Specialty Lending from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $19.83.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending Inc (NYSE: TSLX) is a closed-end, externally managed business development company that provides flexible debt financing solutions to middle-market companies. The fund primarily targets senior secured loans, unitranche facilities, mezzanine debt, second-lien financings and equity co-investment opportunities. By structuring tailored capital solutions, Sixth Street Specialty Lending seeks to support growth initiatives, recapitalizations and refinancings across a diverse set of industries, including technology, healthcare and business services.

As an affiliate of Sixth Street Partners, a global alternative investment firm, the company leverages the broader platform’s credit research, operational expertise and industry relationships.