Principle Wealth Partners LLC Makes New Investment in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Principle Wealth Partners LLC acquired a new stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,150 shares of the financial services provider's stock, valued at approximately $294,000.

Other large investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC raised its holdings in shares of Sixth Street Specialty Lending by 108.5% in the first quarter. Janney Montgomery Scott LLC now owns 276,845 shares of the financial services provider's stock valued at $6,196,000 after buying an additional 144,096 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Sixth Street Specialty Lending by 15.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 435,607 shares of the financial services provider's stock valued at $9,749,000 after purchasing an additional 57,962 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Sixth Street Specialty Lending in the 1st quarter valued at approximately $201,000. Magnus Financial Group LLC purchased a new position in shares of Sixth Street Specialty Lending in the 1st quarter valued at approximately $322,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Sixth Street Specialty Lending in the 4th quarter valued at approximately $1,035,000. Institutional investors and hedge funds own 70.25% of the company's stock.

Sixth Street Specialty Lending Price Performance

Sixth Street Specialty Lending stock traded up $0.05 during mid-day trading on Friday, reaching $24.45. The company had a trading volume of 373,924 shares, compared to its average volume of 473,452. Sixth Street Specialty Lending, Inc. has a 1 year low of $18.58 and a 1 year high of $25.17. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.06 and a quick ratio of 3.06. The company has a market capitalization of $2.30 billion, a P/E ratio of 12.94 and a beta of 0.83. The stock's 50-day simple moving average is $23.56 and its 200-day simple moving average is $22.36.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. Sixth Street Specialty Lending had a net margin of 36.59% and a return on equity of 13.60%. The business had revenue of $113.92 billion during the quarter, compared to analysts' expectations of $116.70 million. During the same period last year, the company posted $0.52 EPS. On average, equities analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, June 20th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.06 per share. The ex-dividend date was Friday, May 30th. This represents a dividend yield of 9.21%. Sixth Street Specialty Lending's dividend payout ratio (DPR) is 97.35%.

Analyst Upgrades and Downgrades

TSLX has been the subject of a number of recent analyst reports. Raymond James Financial reduced their price objective on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. B. Riley initiated coverage on shares of Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They issued a "buy" rating and a $23.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company reduced their price objective on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $22.81.

Sixth Street Specialty Lending Profile

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.