AE Wealth Management LLC reduced its position in Hercules Capital, Inc. (NYSE:HTGC) by 9.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,828 shares of the financial services provider’s stock after selling 1,770 shares during the quarter. AE Wealth Management LLC’s holdings in Hercules Capital were worth $270,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new stake in shares of Hercules Capital during the first quarter worth $1,158,000. Taylor Frigon Capital Management LLC lifted its holdings in shares of Hercules Capital by 1.4% during the first quarter. Taylor Frigon Capital Management LLC now owns 100,251 shares of the financial services provider’s stock worth $1,607,000 after purchasing an additional 1,410 shares during the period. Diligent Investors LLC acquired a new stake in shares of Hercules Capital during the first quarter worth $167,000. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Hercules Capital during the first quarter worth $51,000. Finally, Private Ocean LLC raised its position in Hercules Capital by 49.1% in the first quarter. Private Ocean LLC now owns 7,505 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 2,472 shares in the last quarter. 28.89% of the stock is owned by institutional investors and hedge funds.
Hercules Capital stock opened at $16.98 on Friday. The stock has a market cap of $1.97 billion, a PE ratio of 15.72 and a beta of 1.57. The stock has a 50-day moving average price of $16.91 and a 200 day moving average price of $15.03. Hercules Capital, Inc. has a 52 week low of $9.87 and a 52 week high of $17.72. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 1.07.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 19th. Investors of record on Wednesday, May 12th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 9.19%. The ex-dividend date is Tuesday, May 11th. This is a boost from Hercules Capital’s previous quarterly dividend of $0.32. Hercules Capital’s dividend payout ratio (DPR) is currently 90.78%.
In other Hercules Capital news, Director Thomas J. Fallon sold 15,000 shares of the firm’s stock in a transaction dated Monday, March 15th. The stock was sold at an average price of $16.56, for a total value of $248,400.00. Following the sale, the director now directly owns 49,937 shares of the company’s stock, valued at approximately $826,956.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott Bluestein sold 80,000 shares of the firm’s stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $15.80, for a total value of $1,264,000.00. Following the completion of the sale, the chief executive officer now directly owns 923,086 shares in the company, valued at $14,584,758.80. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.
Several research firms have issued reports on HTGC. B. Riley increased their price objective on Hercules Capital from $16.50 to $18.50 and gave the stock a “buy” rating in a research report on Friday, April 30th. Zacks Investment Research cut Hercules Capital from a “hold” rating to a “sell” rating and set a $18.00 price objective for the company. in a research report on Monday, May 3rd. TheStreet upgraded Hercules Capital from a “c+” rating to a “b” rating in a research report on Friday, March 12th. Royal Bank of Canada began coverage on Hercules Capital in a research report on Wednesday, March 31st. They issued an “outperform” rating and a $17.00 price target for the company. Finally, Oppenheimer began coverage on Hercules Capital in a research report on Monday, May 3rd. They issued an “outperform” rating and a $17.50 price target for the company. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $15.69.
Hercules Capital Company Profile
Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.
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