Argent Trust Co Boosts Stock Holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Argent Trust Co raised its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX) by 8.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 105,292 shares of the financial services provider’s stock after purchasing an additional 8,591 shares during the period. Argent Trust Co owned 0.11% of Sixth Street Specialty Lending worth $2,248,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TSLX. Sound Income Strategies LLC grew its position in shares of Sixth Street Specialty Lending by 4.0% in the 1st quarter. Sound Income Strategies LLC now owns 2,070,259 shares of the financial services provider’s stock worth $44,366,000 after buying an additional 80,581 shares during the last quarter. Confluence Investment Management LLC purchased a new position in shares of Sixth Street Specialty Lending in the 1st quarter worth approximately $5,212,000. Baillie Gifford & Co. grew its position in shares of Sixth Street Specialty Lending by 41.7% in the 1st quarter. Baillie Gifford & Co. now owns 225,420 shares of the financial services provider’s stock worth $4,831,000 after buying an additional 66,348 shares during the last quarter. MGO One Seven LLC grew its position in shares of Sixth Street Specialty Lending by 3,380.9% in the 4th quarter. MGO One Seven LLC now owns 553,876 shares of the financial services provider’s stock worth $11,964,000 after buying an additional 537,964 shares during the last quarter. Finally, Naviter Wealth LLC purchased a new position in shares of Sixth Street Specialty Lending in the 1st quarter worth approximately $1,326,000. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Insider Transactions at Sixth Street Specialty Lending

In other Sixth Street Specialty Lending news, Director Judy S. Slotkin bought 7,015 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $19.90 per share, with a total value of $139,598.50. Following the completion of the acquisition, the director now directly owns 18,726 shares of the company’s stock, valued at $372,647.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 price objective on shares of Sixth Street Specialty Lending in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.67.

Sixth Street Specialty Lending Price Performance

Shares of NYSE TSLX opened at $20.43 on Thursday. The firm has a market cap of $1.90 billion, a PE ratio of 8.24 and a beta of 1.06. The firm has a fifty day moving average of $21.01 and a 200 day moving average of $21.19. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.90 and a current ratio of 1.90. Sixth Street Specialty Lending, Inc. has a one year low of $19.02 and a one year high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $121.82 million during the quarter, compared to analyst estimates of $120.33 million. Sixth Street Specialty Lending had a net margin of 44.55% and a return on equity of 13.76%. During the same quarter in the previous year, the firm earned $0.58 EPS. As a group, research analysts predict that Sixth Street Specialty Lending, Inc. will post 2.31 EPS for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 9.01%. The ex-dividend date of this dividend is Monday, September 16th. This is a positive change from Sixth Street Specialty Lending’s previous quarterly dividend of $0.06. Sixth Street Specialty Lending’s payout ratio is presently 74.19%.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.