Advisors Capital Management LLC Has $15.02 Million Holdings in Hercules Capital, Inc. $HTGC

Advisors Capital Management LLC grew its stake in Hercules Capital, Inc. (NYSE:HTGC) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 794,251 shares of the financial services provider’s stock after acquiring an additional 39,730 shares during the quarter. Advisors Capital Management LLC’s holdings in Hercules Capital were worth $15,019,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of HTGC. Legal & General Group Plc increased its position in shares of Hercules Capital by 6.6% in the 2nd quarter. Legal & General Group Plc now owns 1,253,204 shares of the financial services provider’s stock valued at $22,909,000 after buying an additional 77,187 shares in the last quarter. Muzinich & Co. Inc. grew its stake in Hercules Capital by 34.5% in the third quarter. Muzinich & Co. Inc. now owns 992,820 shares of the financial services provider’s stock valued at $18,774,000 after acquiring an additional 254,651 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Hercules Capital by 42.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 884,946 shares of the financial services provider’s stock worth $16,734,000 after acquiring an additional 263,222 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Hercules Capital by 41.6% in the second quarter. Franklin Resources Inc. now owns 843,114 shares of the financial services provider’s stock worth $15,412,000 after acquiring an additional 247,862 shares in the last quarter. Finally, Tectonic Advisors LLC raised its position in shares of Hercules Capital by 10.9% during the third quarter. Tectonic Advisors LLC now owns 689,511 shares of the financial services provider’s stock worth $13,039,000 after purchasing an additional 67,949 shares during the period. Institutional investors own 19.69% of the company’s stock.

Wall Street Analyst Weigh In

HTGC has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Hercules Capital from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Friday, February 13th. Wall Street Zen cut shares of Hercules Capital from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hercules Capital in a research report on Wednesday, January 28th. Lucid Cap Mkts upgraded Hercules Capital to a “strong-buy” rating in a research note on Monday, December 15th. Finally, Piper Sandler downgraded Hercules Capital from an “overweight” rating to a “neutral” rating and cut their price target for the company from $20.50 to $17.50 in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.29.

Hercules Capital Trading Up 0.6%

HTGC opened at $15.94 on Thursday. The company has a market cap of $2.93 billion, a P/E ratio of 8.71 and a beta of 0.84. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.03. The company’s 50 day moving average is $18.14 and its 200-day moving average is $18.38. Hercules Capital, Inc. has a 1-year low of $15.40 and a 1-year high of $22.04.

Hercules Capital (NYSE:HTGC) last released its quarterly earnings data on Thursday, February 12th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $133.25 million during the quarter, compared to analysts’ expectations of $141.57 million. Hercules Capital had a net margin of 63.80% and a return on equity of 15.97%. During the same period in the prior year, the company earned $0.49 EPS. Equities research analysts predict that Hercules Capital, Inc. will post 1.96 earnings per share for the current fiscal year.

Hercules Capital Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 25th will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, February 25th. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. Hercules Capital’s dividend payout ratio is 87.43%.

About Hercules Capital

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.