Legal & General Group Plc Takes Position in Sixth Street Specialty Lending, Inc. $TSLX

Legal & General Group Plc bought a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX) in the second quarter, Holdings Channel reports. The institutional investor bought 787,794 shares of the financial services provider’s stock, valued at approximately $13,526,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lido Advisors LLC increased its holdings in Sixth Street Specialty Lending by 1.2% in the 4th quarter. Lido Advisors LLC now owns 42,172 shares of the financial services provider’s stock valued at $958,000 after buying an additional 506 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of Sixth Street Specialty Lending by 5.5% during the 4th quarter. Oppenheimer & Co. Inc. now owns 11,923 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 626 shares during the period. Sage Investment Counsel LLC lifted its holdings in shares of Sixth Street Specialty Lending by 3.2% during the 1st quarter. Sage Investment Counsel LLC now owns 25,577 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 800 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Sixth Street Specialty Lending by 4.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 21,905 shares of the financial services provider’s stock valued at $476,000 after acquiring an additional 968 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its position in shares of 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 valued at $1,023,000 after acquiring an additional 970 shares in the last quarter. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Trading Up 0.1%

Shares of TSLX opened at $18.75 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 9.83 and a current ratio of 9.83. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 19.74 and a beta of 0.59. The stock has a fifty day moving average price of $17.71 and a two-hundred day moving average price of $17.95. Sixth Street Specialty Lending, Inc. has a 52-week low of $16.04 and a 52-week high of $24.79.

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

Sixth Street Specialty Lending Dividend Announcement

The business also recently declared 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 is Tuesday, September 15th. This represents a $1.68 annualized dividend and a yield of 9.0%. Sixth Street Specialty Lending’s dividend payout ratio is 176.84%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports 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. Wells Fargo & Company decreased their price objective on Sixth Street Specialty Lending from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. JPMorgan Chase & Co. lowered their price objective on Sixth Street Specialty Lending from $17.50 to $16.50 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Sixth Street Specialty Lending in a report on Thursday, August 13th. Finally, Zacks Research upgraded Sixth Street Specialty Lending from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Sixth Street Specialty Lending currently has an average rating of “Moderate Buy” and a consensus price target of $19.83.

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.