CANADA LIFE ASSURANCE Co Sells 4,951 Shares of Main Street Capital Co. (NYSE:MAIN)

CANADA LIFE ASSURANCE Co decreased its holdings in shares of Main Street Capital Co. (NYSE:MAIN - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,822 shares of the financial services provider's stock after selling 4,951 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.08% of Main Street Capital worth $4,090,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Main Street Capital during the fourth quarter valued at $10,460,000. Invesco Ltd. grew its position in shares of Main Street Capital by 470.4% in the fourth quarter. Invesco Ltd. now owns 139,166 shares of the financial services provider's stock valued at $8,152,000 after purchasing an additional 114,768 shares during the last quarter. Morgan Dempsey Capital Management LLC bought a new position in Main Street Capital in the 4th quarter worth approximately $6,007,000. Van ECK Associates Corp boosted its holdings in Main Street Capital by 7.8% in the 4th quarter. Van ECK Associates Corp now owns 1,288,309 shares of the financial services provider's stock valued at $75,469,000 after purchasing an additional 92,833 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new position in Main Street Capital in the 4th quarter valued at approximately $3,139,000. Institutional investors own 20.31% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on MAIN. UBS Group lowered their price objective on Main Street Capital from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Truist Financial raised their price target on shares of Main Street Capital from $52.00 to $62.00 and gave the company a "hold" rating in a report on Monday, March 3rd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $52.60.

Main Street Capital Stock Performance

MAIN traded down $0.36 during trading on Tuesday, hitting $54.22. The stock had a trading volume of 227,393 shares, compared to its average volume of 442,133. Main Street Capital Co. has a one year low of $45.00 and a one year high of $63.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.08 and a quick ratio of 0.08. The company has a 50 day moving average price of $56.02 and a 200-day moving average price of $56.23. The firm has a market cap of $4.80 billion, a price-to-earnings ratio of 9.82 and a beta of 0.98.

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

Main Street Capital Increases Dividend

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

Insiders Place Their Bets

In other news, insider David L. Magdol sold 100,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 377,182 shares in the company, valued at approximately $21,895,415.10. This trade represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dwayne L. Hyzak sold 120,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $58.05, for a total transaction of $6,966,000.00. Following the completion of the sale, the chief executive officer now directly owns 402,371 shares in the company, valued at $23,357,636.55. This represents a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company's stock.

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.