Centurion Wealth Management LLC Invests $3.88 Million in Nuveen Churchill Direct Lending Corp. $NCDL

Key Points

• Centurion Wealth Management acquired 312,308 NCDL shares worth approximately $3.88 million, making the position 0.9% of its portfolio and representing about 0.63% of NCDL’s outstanding stock.
• Analyst sentiment is mixed but centers on a “Hold” consensus, with a $14.44 target price; Wells Fargo downgraded the stock to “Underweight,” while Zacks Research and Wall Street Zen upgraded it to “Hold.”
• NCDL reported quarterly EPS of $0.41, beating estimates of $0.39, and declared a $0.36 quarterly dividend—equivalent to a 11.2% annualized yield—despite a payout ratio above 150%.

Centurion Wealth Management LLC bought a new position in shares of Nuveen Churchill Direct Lending Corp. (NYSE:NCDL - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 312,308 shares of the company's stock, valued at approximately $3,879,000. Nuveen Churchill Direct Lending accounts for 0.9% of Centurion Wealth Management LLC's investment portfolio, making the stock its 24th biggest position. Centurion Wealth Management LLC owned about 0.63% of Nuveen Churchill Direct Lending as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in Nuveen Churchill Direct Lending by 190.2% in the third quarter. BNP Paribas Financial Markets now owns 2,400 shares of the company's stock valued at $33,000 after buying an additional 1,573 shares during the period. Advisory Services Network LLC purchased a new stake in Nuveen Churchill Direct Lending during the third quarter worth approximately $38,000. NewEdge Advisors LLC increased its position in shares of Nuveen Churchill Direct Lending by 33.0% in the second quarter. NewEdge Advisors LLC now owns 4,511 shares of the company's stock worth $73,000 after acquiring an additional 1,118 shares in the last quarter. Quadrant Capital Group LLC purchased a new position in shares of Nuveen Churchill Direct Lending in the 3rd quarter valued at $80,000. Finally, State of Wyoming purchased a new position in shares of Nuveen Churchill Direct Lending in the 2nd quarter valued at $108,000.

Analyst Upgrades and Downgrades

NCDL has been the topic of several recent research reports. Wells Fargo & Company lowered shares of Nuveen Churchill Direct Lending from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $13.00 to $12.00 in a report on Friday, June 12th. UBS Group lowered their price target on Nuveen Churchill Direct Lending from $15.50 to $14.75 and set a "neutral" rating for the company in a report on Monday, May 18th. Zacks Research raised Nuveen Churchill Direct Lending from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen upgraded Nuveen Churchill Direct Lending from a "sell" rating to a "hold" rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $14.44.

Nuveen Churchill Direct Lending Stock Performance

NYSE:NCDL opened at $12.86 on Monday. The stock has a market cap of $635.16 million, a price-to-earnings ratio of 13.54 and a beta of 0.51. Nuveen Churchill Direct Lending Corp. has a one year low of $11.97 and a one year high of $16.37. The business's 50-day simple moving average is $12.60 and its 200 day simple moving average is $13.18.

Nuveen Churchill Direct Lending (NYSE:NCDL - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. Nuveen Churchill Direct Lending had a return on equity of 9.53% and a net margin of 24.44%.The firm had revenue of $11.14 million during the quarter, compared to analyst estimates of $46.72 million. On average, equities research analysts predict that Nuveen Churchill Direct Lending Corp. will post 1.6 EPS for the current year.

Nuveen Churchill Direct Lending Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 27th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.2%. Nuveen Churchill Direct Lending's dividend payout ratio (DPR) is presently 151.58%.

Insider Transactions at Nuveen Churchill Direct Lending

In related news, Treasurer Shaul Vichness acquired 5,000 shares of Nuveen Churchill Direct Lending stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $13.20 per share, for a total transaction of $66,000.00. Following the purchase, the treasurer directly owned 30,705 shares of the company's stock, valued at $405,306. The trade was a 19.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Mccally acquired 7,500 shares of Nuveen Churchill Direct Lending stock in a transaction on Friday, May 15th. The shares were bought at an average price of $13.27 per share, for a total transaction of $99,525.00. Following the completion of the purchase, the vice president directly owned 15,245 shares in the company, valued at $202,301.15. The trade was a 96.84% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders purchased 16,282 shares of company stock valued at $215,485. 0.68% of the stock is currently owned by corporate insiders.

Nuveen Churchill Direct Lending Company Profile

Nuveen Churchill Direct Lending NYSE: NCDL is a closed-end management investment company that seeks to provide shareholders with attractive risk-adjusted returns through a diversified portfolio of direct lending instruments. Established in early 2022, NCDL focuses on privately negotiated debt investments in middle-market companies, primarily within the United States. The fund offers investors access to a segment of the credit markets that has historically been less correlated with public debt markets, aiming to capture yield premiums associated with private lending.

The fund’s investment strategy centers on senior secured loans, unitranche financings and selectively structured mezzanine debt.

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