Envestnet Asset Management Inc. Sells 86,580 Shares of Hercules Capital, Inc. (NYSE:HTGC)

Envestnet Asset Management Inc. lowered its holdings in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 39.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 134,455 shares of the financial services provider's stock after selling 86,580 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Hercules Capital worth $2,701,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wells Fargo & Company MN increased its position in shares of Hercules Capital by 2.4% during the 4th quarter. Wells Fargo & Company MN now owns 670,674 shares of the financial services provider's stock valued at $13,474,000 after purchasing an additional 15,836 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in Hercules Capital in the 4th quarter worth approximately $540,000. Trexquant Investment LP purchased a new stake in Hercules Capital in the 4th quarter worth approximately $2,156,000. Franklin Resources Inc. increased its holdings in Hercules Capital by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 389,280 shares of the financial services provider's stock worth $7,821,000 after acquiring an additional 2,055 shares in the last quarter. Finally, DnB Asset Management AS increased its holdings in Hercules Capital by 9.9% in the 4th quarter. DnB Asset Management AS now owns 153,965 shares of the financial services provider's stock worth $3,093,000 after acquiring an additional 13,859 shares in the last quarter. Hedge funds and other institutional investors own 19.69% of the company's stock.

Hercules Capital Trading Up 0.9 %

NYSE:HTGC traded up $0.17 during mid-day trading on Monday, hitting $18.08. 654,788 shares of the stock traded hands, compared to its average volume of 1,059,331. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 11.23 and a beta of 1.13. Hercules Capital, Inc. has a 52 week low of $15.65 and a 52 week high of $22.04. The firm's 50 day moving average is $18.64 and its two-hundred day moving average is $19.48. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.89.

Hercules Capital (NYSE:HTGC - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $121.78 million for the quarter, compared to the consensus estimate of $124.09 million. Hercules Capital had a net margin of 53.28% and a return on equity of 17.19%. On average, equities research analysts predict that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.

Hercules Capital Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 26th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $1.88 annualized dividend and a yield of 10.40%. Hercules Capital's payout ratio is 99.38%.

Analyst Ratings Changes

HTGC has been the subject of several analyst reports. Keefe, Bruyette & Woods reduced their target price on shares of Hercules Capital from $21.50 to $20.50 and set an "outperform" rating for the company in a report on Tuesday, April 8th. JMP Securities reaffirmed a "market outperform" rating and set a $22.00 price objective on shares of Hercules Capital in a report on Friday, February 14th. Compass Point increased their price objective on shares of Hercules Capital from $18.25 to $20.00 and gave the company a "neutral" rating in a report on Wednesday, February 19th. Wells Fargo & Company cut their price objective on shares of Hercules Capital from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Monday. Finally, Piper Sandler cut their price objective on shares of Hercules Capital from $23.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $19.92.

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.