AssuredPartners Investment Advisors LLC Makes New Investment in Main Street Capital Co. (NYSE:MAIN)

AssuredPartners Investment Advisors LLC bought a new position in Main Street Capital Co. (NYSE:MAIN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,569 shares of the financial services provider’s stock, valued at approximately $385,000.

Several other institutional investors have also made changes to their positions in MAIN. JPMorgan Chase & Co. grew its position in Main Street Capital by 37.1% during the 4th quarter. JPMorgan Chase & Co. now owns 139,189 shares of the financial services provider’s stock worth $8,154,000 after purchasing an additional 37,640 shares in the last quarter. TrueMark Investments LLC purchased a new position in shares of Main Street Capital during the fourth quarter valued at $446,000. LPL Financial LLC raised its position in Main Street Capital by 1.6% during the fourth quarter. LPL Financial LLC now owns 299,165 shares of the financial services provider’s stock valued at $17,525,000 after buying an additional 4,740 shares during the period. Goodman Financial Corp purchased a new stake in Main Street Capital in the 4th quarter worth about $247,000. Finally, HUB Investment Partners LLC lifted its stake in Main Street Capital by 29.5% in the 4th quarter. HUB Investment Partners LLC now owns 16,796 shares of the financial services provider’s stock worth $984,000 after acquiring an additional 3,827 shares in the last quarter. 20.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Main Street Capital

In other news, CEO Dwayne L. Hyzak sold 120,000 shares of the stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the transaction, the chief executive officer now owns 402,371 shares of the company’s stock, valued at approximately $23,357,636.55. This represents a 22.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David L. Magdol sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total value of $5,805,000.00. Following the completion of the transaction, the insider now directly owns 377,182 shares in the company, valued at $21,895,415.10. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Truist Financial upped their target price on Main Street Capital from $52.00 to $62.00 and gave the company a “hold” rating in a report on Monday, March 3rd.

Main Street Capital Price Performance

Shares of NYSE:MAIN opened at $56.64 on Friday. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 10.26 and a beta of 1.26. Main Street Capital Co. has a 1 year low of $45.00 and a 1 year high of $63.32. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $59.67 and a 200 day simple moving average of $55.69.

Main Street Capital (NYSE:MAIN) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.06). Main Street Capital had a return on equity of 13.83% and a net margin of 89.25%. The firm had revenue of $140.44 million for the quarter, compared to analysts’ expectations of $141.40 million. As a group, sell-side analysts predict that Main Street Capital Co. will post 4.11 earnings per share for the current fiscal year.

Main Street Capital Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 27th. Shareholders of record on Friday, March 21st were given a $0.30 dividend. This represents a yield of 7.11%. This is an increase from Main Street Capital’s previous dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 20th. Main Street Capital’s payout ratio is currently 51.37%.

Main Street Capital Profile

Main Street Capital Corporation is a business development company specializes in equity capital to lower middle market companies. The firm specializing in recapitalizations, management buyouts, refinancing, family estate planning, management buyouts, refinancing, industry consolidation, mature, later stage emerging growth.