Sumitomo Mitsui Trust Group Inc. Has $16.73 Million Stake in Hercules Capital, Inc. $HTGC

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Hercules Capital, Inc. (NYSE:HTGC) by 42.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 884,946 shares of the financial services provider’s stock after buying an additional 263,222 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Hercules Capital were worth $16,734,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. CWM LLC increased its holdings in shares of Hercules Capital by 79.6% during the 2nd quarter. CWM LLC now owns 1,381 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 612 shares during the last quarter. Assetmark Inc. lifted its holdings in Hercules Capital by 173.4% in the 2nd quarter. Assetmark Inc. now owns 1,386 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 879 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in Hercules Capital during the second quarter worth approximately $27,000. Alpine Bank Wealth Management acquired a new position in Hercules Capital during the second quarter valued at approximately $33,000. Finally, CNB Bank bought a new position in shares of Hercules Capital in the second quarter valued at approximately $34,000. Institutional investors own 19.69% of the company’s stock.

Hercules Capital Stock Down 0.3%

Shares of HTGC opened at $18.91 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.65 and a current ratio of 1.65. The company has a 50-day simple moving average of $18.38 and a 200-day simple moving average of $18.62. Hercules Capital, Inc. has a 52 week low of $15.65 and a 52 week high of $22.04. The firm has a market capitalization of $3.44 billion, a P/E ratio of 10.99 and a beta of 0.84.

Hercules Capital (NYSE:HTGC) last released its earnings results on Thursday, October 30th. The financial services provider reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. Hercules Capital had a return on equity of 16.13% and a net margin of 60.05%.The business had revenue of $138.09 million for the quarter, compared to the consensus estimate of $136.95 million. During the same period last year, the business earned $0.51 earnings per share. On average, equities research analysts expect that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.

Hercules Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, November 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.5%. Hercules Capital’s payout ratio is currently 93.02%.

Insider Activity at Hercules Capital

In other news, Director Gayle A. Crowell bought 6,000 shares of Hercules Capital stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $17.77 per share, with a total value of $106,620.00. Following the completion of the transaction, the director directly owned 78,727 shares in the company, valued at $1,398,978.79. This trade represents a 8.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on HTGC. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hercules Capital in a report on Friday, October 31st. Piper Sandler decreased their price target on shares of Hercules Capital from $21.00 to $20.50 and set an “overweight” rating for the company in a report on Thursday, October 9th. Capital One Financial set a $19.75 price objective on Hercules Capital in a research note on Monday, December 15th. UBS Group cut their price objective on Hercules Capital from $19.00 to $18.50 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Finally, Wall Street Zen lowered Hercules Capital from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Hercules Capital has a consensus rating of “Moderate Buy” and an average target price of $20.32.

Hercules Capital Profile

Hercules Capital, Inc is a specialty finance company organized as a business development company (BDC) that provides tailored debt financing solutions to high?growth companies. Through its external management structure, Hercules Capital extends senior secured loans, subordinated debt and growth capital designed to support research and development, expansion initiatives and working capital needs. The firm primarily partners with venture capital and private equity sponsors to finance innovative enterprises across various developmental stages.

The company’s investment portfolio is concentrated in technology, life sciences and sustainable and renewable technology sectors, reflecting its focus on industries with strong growth prospects and recurring capital requirements.