Ameriprise Financial Inc. Boosts Holdings in Hercules Capital, Inc. (NYSE:HTGC)

Ameriprise Financial Inc. increased its holdings in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 325,912 shares of the financial services provider's stock after purchasing an additional 28,812 shares during the quarter. Ameriprise Financial Inc. owned 0.20% of Hercules Capital worth $6,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of HTGC. Marshall Wace LLP bought a new position in shares of Hercules Capital during the fourth quarter valued at $14,871,000. Van ECK Associates Corp lifted its holdings in shares of Hercules Capital by 10.4% during the fourth quarter. Van ECK Associates Corp now owns 3,438,447 shares of the financial services provider's stock valued at $69,078,000 after purchasing an additional 323,028 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Hercules Capital by 1,909.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 327,467 shares of the financial services provider's stock valued at $6,579,000 after purchasing an additional 311,167 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Hercules Capital during the fourth quarter valued at $5,016,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Hercules Capital during the fourth quarter valued at $3,281,000. 19.69% of the stock is owned by institutional investors.

Hercules Capital Stock Performance

Shares of HTGC opened at $17.31 on Friday. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.89. The business has a 50-day simple moving average of $17.90 and a two-hundred day simple moving average of $19.21. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 10.75 and a beta of 0.97. Hercules Capital, Inc. has a 52 week low of $15.65 and a 52 week high of $22.04.

Hercules Capital (NYSE:HTGC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.01). The company had revenue of $102.10 million during the quarter, compared to analysts' expectations of $125.43 million. Hercules Capital had a return on equity of 17.19% and a net margin of 53.28%. The business's quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.50 EPS. On average, analysts expect that Hercules Capital, Inc. will post 1.96 EPS for the current year.

Hercules Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Tuesday, May 13th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 9.24%. The ex-dividend date of this dividend was Tuesday, May 13th. Hercules Capital's payout ratio is 120.30%.

Insiders Place Their Bets

In other Hercules Capital news, Director Nikos Theodosopoulos bought 5,999 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average price of $17.49 per share, for a total transaction of $104,922.51. Following the completion of the transaction, the director now owns 11,960 shares of the company's stock, valued at $209,180.40. This trade represents a 100.64% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HTGC. JMP Securities reaffirmed a "market outperform" rating and set a $22.00 price target on shares of Hercules Capital in a report on Friday, February 14th. Wells Fargo & Company reduced their price objective on Hercules Capital from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Piper Sandler reduced their price objective on Hercules Capital from $23.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Compass Point upped their price objective on Hercules Capital from $18.25 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Finally, UBS Group reduced their price objective on Hercules Capital from $20.00 to $18.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.92.

About Hercules Capital

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.

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