Essex Financial Services Inc. Has $878,000 Position in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Essex Financial Services Inc. grew its holdings in Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 115.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,252 shares of the financial services provider's stock after purchasing an additional 21,065 shares during the quarter. Essex Financial Services Inc.'s holdings in Sixth Street Specialty Lending were worth $878,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLX. Progeny 3 Inc. lifted its stake in shares of Sixth Street Specialty Lending by 6.1% in the fourth quarter. Progeny 3 Inc. now owns 2,390,680 shares of the financial services provider's stock valued at $50,921,000 after buying an additional 137,906 shares during the period. Sound Income Strategies LLC lifted its stake in shares of Sixth Street Specialty Lending by 2.4% in the first quarter. Sound Income Strategies LLC now owns 2,361,139 shares of the financial services provider's stock valued at $52,842,000 after buying an additional 55,767 shares during the period. Burgundy Asset Management Ltd. lifted its stake in shares of Sixth Street Specialty Lending by 1.7% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,192,486 shares of the financial services provider's stock valued at $46,700,000 after buying an additional 37,442 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Sixth Street Specialty Lending by 2.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,183,141 shares of the financial services provider's stock valued at $25,201,000 after buying an additional 33,026 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Sixth Street Specialty Lending in the fourth quarter valued at about $17,488,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Sixth Street Specialty Lending Stock Up 1.0%

Shares of TSLX opened at $23.75 on Monday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 12.56 and a beta of 0.83. The company has a quick ratio of 3.06, a current ratio of 3.06 and a debt-to-equity ratio of 1.15. Sixth Street Specialty Lending, Inc. has a 12 month low of $18.58 and a 12 month high of $23.94. The company has a 50-day moving average price of $22.33 and a two-hundred day moving average price of $21.94.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating 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 company had revenue of $113.92 billion during the quarter, compared to analysts' expectations of $116.70 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. Equities analysts predict that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Sixth Street Specialty Lending from $23.00 to $21.50 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Raymond James Financial reduced their target price on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. B. Riley assumed coverage on shares of Sixth Street Specialty Lending in a research note on Tuesday, May 13th. They set a "buy" rating and a $23.00 price target for the company. Finally, Wells Fargo & Company cut their price target on shares of Sixth Street Specialty Lending from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $22.81.

About Sixth Street Specialty Lending

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.

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