Prospect Capital Co. (PSEC) To Go Ex-Dividend on November 26th

Prospect Capital Co. (NASDAQ:PSEC) declared a monthly dividend on Tuesday, November 5th,Zacks Dividends reports. Investors of record on Tuesday, November 26th will be paid a dividend of 0.045 per share by the financial services provider on Thursday, December 19th. This represents a $0.54 annualized dividend and a yield of 11.18%. The ex-dividend date of this dividend is Tuesday, November 26th.

Prospect Capital has raised its dividend by an average of 13.6% per year over the last three years. Prospect Capital has a payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Prospect Capital Price Performance

PSEC stock opened at $4.83 on Friday. The stock has a 50-day moving average price of $5.10 and a two-hundred day moving average price of $5.30. The company has a market cap of $2.11 billion, a PE ratio of -18.58 and a beta of 1.00. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65. Prospect Capital has a 12-month low of $4.15 and a 12-month high of $6.30.

Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%. The business had revenue of $196.31 million during the quarter.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, August 30th. StockNews.com downgraded Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th.

Insider Activity at Prospect Capital

In other news, CEO John F. Barry acquired 205,900 shares of the stock in a transaction on Friday, November 15th. The stock was bought at an average price of $4.40 per share, with a total value of $905,960.00. Following the completion of the transaction, the chief executive officer now directly owns 72,612,839 shares of the company’s stock, valued at $319,496,491.60. The trade was a 0.28 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have purchased 2,053,173 shares of company stock worth $9,284,120. 27.10% of the stock is currently owned by company insiders.

About Prospect Capital

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.