The Manufacturers Life Insurance Company Makes New $1.03 Million Investment in Main Street Capital Co. (NYSE:MAIN)

The Manufacturers Life Insurance Company acquired a new position in Main Street Capital Co. (NYSE:MAIN) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,516 shares of the financial services provider’s stock, valued at approximately $1,029,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MAIN. Truvestments Capital LLC purchased a new stake in shares of Main Street Capital during the third quarter valued at approximately $39,000. Centaurus Financial Inc. lifted its position in Main Street Capital by 6.4% during the third quarter. Centaurus Financial Inc. now owns 14,742 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 885 shares during the period. Larson Financial Group LLC lifted its position in Main Street Capital by 4.5% during the third quarter. Larson Financial Group LLC now owns 44,968 shares of the financial services provider’s stock valued at $2,255,000 after purchasing an additional 1,931 shares during the period. MGB Wealth Management LLC lifted its position in Main Street Capital by 2.8% during the third quarter. MGB Wealth Management LLC now owns 42,859 shares of the financial services provider’s stock valued at $2,149,000 after purchasing an additional 1,150 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in Main Street Capital by 42.9% during the third quarter. Advisors Asset Management Inc. now owns 60,548 shares of the financial services provider’s stock valued at $3,036,000 after purchasing an additional 18,188 shares during the period. Hedge funds and other institutional investors own 20.31% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley increased their price objective on shares of Main Street Capital from $49.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Main Street Capital currently has an average rating of “Hold” and an average price target of $48.80.

Main Street Capital Stock Performance

MAIN opened at $55.40 on Friday. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 10.04 and a beta of 1.30. The company has a fifty day moving average of $52.72 and a 200 day moving average of $50.82. Main Street Capital Co. has a fifty-two week low of $42.17 and a fifty-two week high of $55.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.08 and a current ratio of 0.08.

Main Street Capital Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 20th will be paid a $0.30 dividend. The ex-dividend date is Friday, December 20th. Main Street Capital’s payout ratio is currently 53.26%.

About Main Street Capital

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.