Raymond James Financial Inc. Makes New Investment in Source Capital, Inc. (NYSE:SOR)

Raymond James Financial Inc. purchased a new stake in Source Capital, Inc. (NYSE:SOR) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 51,306 shares of the financial services provider’s stock, valued at approximately $2,231,000. Raymond James Financial Inc. owned approximately 0.63% of Source Capital at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SOR. Thrivent Financial for Lutherans increased its stake in Source Capital by 1.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 16,135 shares of the financial services provider’s stock valued at $718,000 after buying an additional 224 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in shares of Source Capital by 3.4% during the 4th quarter. Lake Street Advisors Group LLC now owns 15,426 shares of the financial services provider’s stock worth $712,000 after buying an additional 511 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Source Capital by 7.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,059 shares of the financial services provider’s stock valued at $665,000 after acquiring an additional 988 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Source Capital by 6.7% in the fourth quarter. Park Avenue Securities LLC now owns 17,416 shares of the financial services provider’s stock valued at $757,000 after acquiring an additional 1,092 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in Source Capital during the fourth quarter worth about $206,000. 13.15% of the stock is currently owned by institutional investors.

Source Capital Price Performance

Shares of NYSE SOR opened at $41.57 on Monday. Source Capital, Inc. has a 52 week low of $41.00 and a 52 week high of $47.91. The stock has a 50 day moving average price of $42.21 and a 200 day moving average price of $43.54.

Source Capital Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a $0.2083 dividend. This represents a dividend yield of 6%. The ex-dividend date of this dividend is Thursday, May 15th.

About Source Capital

Source Capital, Inc is a close-ended balanced fund launched and managed by First Pacific Advisors, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating across diversified sectors. The fund primarily invests in value stocks of small to mid cap companies.