Sixth Street Specialty Lending, Inc. $TSLX Shares Bought by Legal & General Group Plc

Legal & General Group Plc grew its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 16.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 665,352 shares of the financial services provider’s stock after acquiring an additional 91,578 shares during the quarter. Legal & General Group Plc owned 0.70% of Sixth Street Specialty Lending worth $14,455,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TSLX. Ignite Planners LLC increased its holdings in shares of Sixth Street Specialty Lending by 47.3% during the fourth quarter. Ignite Planners LLC now owns 102,317 shares of the financial services provider’s stock valued at $2,246,000 after acquiring an additional 32,850 shares in the last quarter. Redmont Wealth Advisors LLC boosted its stake in Sixth Street Specialty Lending by 37.8% in the 4th quarter. Redmont Wealth Advisors LLC now owns 4,776 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 1,310 shares in the last quarter. IFP Advisors Inc grew its position in Sixth Street Specialty Lending by 24.9% during the 4th quarter. IFP Advisors Inc now owns 67,727 shares of the financial services provider’s stock worth $1,471,000 after purchasing an additional 13,513 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in Sixth Street Specialty Lending by 2.1% during the 4th quarter. Cornerstone Wealth Management LLC now owns 47,093 shares of the financial services provider’s stock worth $1,023,000 after purchasing an additional 970 shares during the last quarter. Finally, Plan Group Financial LLC increased its stake in Sixth Street Specialty Lending by 15.1% during the 4th quarter. Plan Group Financial LLC now owns 73,257 shares of the financial services provider’s stock valued at $1,591,000 after purchasing an additional 9,635 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Insider Transactions at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, VP Ross Anthony Bruck bought 8,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $17.76 per share, for a total transaction of $142,080.00. Following the transaction, the vice president directly owned 18,250 shares of the company’s stock, valued at approximately $324,120. The trade was a 78.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Alan Waxman purchased 45,000 shares of Sixth Street Specialty Lending stock in a transaction that occurred on Tuesday, March 10th. The stock was acquired at an average cost of $18.47 per share, with a total value of $831,150.00. Following the acquisition, the vice president directly owned 545,000 shares in the company, valued at $10,066,150. This trade represents a 9.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 553,000 shares of company stock worth $10,139,230 over the last 90 days. Insiders own 3.83% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on TSLX. Keefe, Bruyette & Woods decreased their price target on shares of Sixth Street Specialty Lending from $21.00 to $18.50 and set an “outperform” rating for the company in a report on Thursday, May 7th. Wall Street Zen downgraded Sixth Street Specialty Lending from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Citizens Jmp lowered their price target on Sixth Street Specialty Lending from $25.00 to $24.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 22nd. Wells Fargo & Company dropped their price target on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Finally, Royal Bank Of Canada cut their price objective on Sixth Street Specialty Lending from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.83.

Sixth Street Specialty Lending Price Performance

NYSE:TSLX opened at $17.89 on Wednesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 3.39 and a quick ratio of 3.39. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 15.56 and a beta of 0.60. The company has a 50 day moving average price of $18.14 and a 200-day moving average price of $19.82. Sixth Street Specialty Lending, Inc. has a 1-year low of $16.96 and a 1-year high of $25.17.

Sixth Street Specialty Lending (NYSE:TSLX) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.07). The firm had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $103.14 million. Sixth Street Specialty Lending had a return on equity of 11.92% and a net margin of 25.25%.During the same period last year, the company posted $0.58 earnings per share. Equities research analysts forecast that Sixth Street Specialty Lending, Inc. will post 1.71 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 9.4%. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from Sixth Street Specialty Lending’s previous quarterly dividend of $0.01. Sixth Street Specialty Lending’s dividend payout ratio is currently 160.00%.

Sixth Street Specialty Lending 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.