Centurion Wealth Management LLC Acquires New Position in Nuveen Churchill Direct Lending Corp. $NCDL

Centurion Wealth Management LLC acquired a new stake in shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 312,308 shares of the company’s stock, valued at approximately $3,879,000. Nuveen Churchill Direct Lending makes up about 0.9% of Centurion Wealth Management LLC’s holdings, making the stock its 24th biggest holding.

A number of other large investors also recently bought and sold shares of NCDL. BNP Paribas Financial Markets grew its position in shares of Nuveen Churchill Direct Lending by 190.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company’s stock worth $33,000 after acquiring an additional 1,573 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Nuveen Churchill Direct Lending during the 3rd quarter valued at approximately $38,000. NewEdge Advisors LLC raised its position in shares of Nuveen Churchill Direct Lending by 33.0% during the 2nd quarter. NewEdge Advisors LLC now owns 4,511 shares of the company’s stock valued at $73,000 after acquiring an additional 1,118 shares in the last quarter. Quadrant Capital Group LLC bought a new position in Nuveen Churchill Direct Lending during the third quarter worth $80,000. Finally, State of Wyoming bought a new position in Nuveen Churchill Direct Lending during the second quarter worth $108,000.

Insider Activity

In other news, VP John Mccally purchased 7,500 shares of the stock in a transaction dated Friday, May 15th. The stock was acquired at an average price of $13.27 per share, for a total transaction of $99,525.00. Following the completion of the transaction, the vice president owned 15,245 shares of the company’s stock, valued at approximately $202,301.15. The trade was a 96.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Treasurer Shaul Vichness acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $13.20 per share, for a total transaction of $66,000.00. Following the acquisition, the treasurer owned 30,705 shares in the company, valued at approximately $405,306. This trade represents a 19.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 16,282 shares of company stock valued at $215,485. 0.68% of the stock is currently owned by company insiders.

Nuveen Churchill Direct Lending Trading Up 0.3%

Shares of NYSE NCDL opened at $12.86 on Monday. The company has a market cap of $635.16 million, a price-to-earnings ratio of 13.54 and a beta of 0.51. Nuveen Churchill Direct Lending Corp. has a 12-month low of $11.97 and a 12-month high of $16.37. The stock’s 50 day simple moving average is $12.60 and its 200 day simple moving average is $13.18.

Nuveen Churchill Direct Lending (NYSE:NCDL) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $11.14 million during the quarter, compared to analyst estimates of $46.72 million. Nuveen Churchill Direct Lending had a return on equity of 9.53% and a net margin of 24.44%. As a group, equities analysts forecast that Nuveen Churchill Direct Lending Corp. will post 1.6 earnings per share for the current fiscal year.

Nuveen Churchill Direct Lending Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 27th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 11.2%. Nuveen Churchill Direct Lending’s payout ratio is 151.58%.

Analysts Set New Price Targets

A number of research firms have commented on NCDL. Zacks Research raised shares of Nuveen Churchill Direct Lending from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Wall Street Zen upgraded shares of Nuveen Churchill Direct Lending from a “sell” rating to a “hold” rating in a research report on Saturday, July 25th. Wells Fargo & Company downgraded shares of Nuveen Churchill Direct Lending from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $13.00 to $12.00 in a research report on Friday, June 12th. Finally, UBS Group decreased their price target on shares of Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a “neutral” rating for the company in a report on Monday, May 18th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.44.

About Nuveen Churchill Direct Lending

Nuveen Churchill Direct Lending (NYSE:NCDL) is a closed-end management investment company that seeks to provide shareholders with attractive risk-adjusted returns through a diversified portfolio of direct lending instruments. Established in early 2022, NCDL focuses on privately negotiated debt investments in middle-market companies, primarily within the United States. The fund offers investors access to a segment of the credit markets that has historically been less correlated with public debt markets, aiming to capture yield premiums associated with private lending.

The fund’s investment strategy centers on senior secured loans, unitranche financings and selectively structured mezzanine debt.