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

AssuredPartners Investment Advisors LLC purchased a new stake in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,569 shares of the financial services provider's stock, valued at approximately $385,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MAIN. Asset Planning Inc bought a new position in Main Street Capital during the 4th quarter worth $29,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Main Street Capital in the third quarter valued at about $50,000. AdvisorNet Financial Inc raised its position in shares of Main Street Capital by 145.8% during the fourth quarter. AdvisorNet Financial Inc now owns 1,229 shares of the financial services provider's stock worth $72,000 after acquiring an additional 729 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Main Street Capital by 31.3% in the fourth quarter. Jones Financial Companies Lllp now owns 1,306 shares of the financial services provider's stock worth $77,000 after acquiring an additional 311 shares during the period. Finally, Signaturefd LLC boosted its holdings in Main Street Capital by 34.2% in the fourth quarter. Signaturefd LLC now owns 1,494 shares of the financial services provider's stock valued at $88,000 after acquiring an additional 381 shares during the last quarter. 20.31% of the stock is currently owned by institutional investors.

Insider Activity

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

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Wall Street Analyst Weigh In

Separately, Truist Financial raised their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the stock a "hold" rating in a report on Monday, March 3rd.

Main Street Capital Trading Up 2.2 %

Shares of Main Street Capital stock traded up $1.22 on Tuesday, hitting $57.78. 413,851 shares of the company's stock traded hands, compared to its average volume of 417,999. The company has a fifty day moving average of $59.53 and a two-hundred day moving average of $55.89. Main Street Capital Co. has a one year low of $45.00 and a one year high of $63.32. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 10.47 and a beta of 1.26. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08.

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

Main Street Capital Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, March 27th. Stockholders of record on Friday, March 21st were given a dividend of $0.30 per share. This represents a dividend yield of 7.11%. The ex-dividend date of this dividend was Thursday, March 20th. This is a boost from Main Street Capital's previous dividend of $0.25. Main Street Capital's dividend payout ratio is 51.37%.

Main Street Capital Company 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.