Delphi Financial Group Inc. Reduces Stake in Sixth Street Specialty Lending, Inc. (NYSE:TSLX)

Key Points

• Delphi Financial Group Inc. reduced its stake in Sixth Street Specialty Lending by 35.7%, now holding 45,106 shares worth approximately $1,009,000.
• Sixth Street Specialty Lending announced a dividend of $0.46 per share, representing a significant increase from its previous dividend of $0.06.
• The company's stock currently has an average target price of $23.28, with analysts leaning towards a "buy" rating.

Delphi Financial Group Inc. lessened its holdings in shares of Sixth Street Specialty Lending, Inc. (NYSE:TSLX - Free Report) by 35.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,106 shares of the financial services provider's stock after selling 25,000 shares during the period. Sixth Street Specialty Lending accounts for approximately 0.6% of Delphi Financial Group Inc.'s holdings, making the stock its 16th biggest position. Delphi Financial Group Inc.'s holdings in Sixth Street Specialty Lending were worth $1,009,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Ameriflex Group Inc. bought a new position in shares of Sixth Street Specialty Lending in the 4th quarter worth approximately $27,000. AdvisorNet Financial Inc bought a new position in Sixth Street Specialty Lending in the 1st quarter worth approximately $40,000. Rossby Financial LCC bought a new position in shares of Sixth Street Specialty Lending during the 1st quarter valued at approximately $62,000. Redmont Wealth Advisors LLC bought a new position in shares of Sixth Street Specialty Lending during the 1st quarter valued at approximately $97,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Sixth Street Specialty Lending during the 1st quarter valued at approximately $117,000. Institutional investors own 70.25% of the company's stock.

Sixth Street Specialty Lending Price Performance

Shares of TSLX stock traded up $0.31 during trading hours on Tuesday, hitting $24.19. 168,682 shares of the company's stock were exchanged, compared to its average volume of 474,006. The firm has a 50 day moving average of $23.82 and a two-hundred day moving average of $22.58. Sixth Street Specialty Lending, Inc. has a fifty-two week low of $18.58 and a fifty-two week high of $25.17. The company has a quick ratio of 3.79, a current ratio of 3.79 and a debt-to-equity ratio of 1.07. The firm has a market cap of $2.28 billion, a P/E ratio of 12.03 and a beta of 0.84.

Sixth Street Specialty Lending (NYSE:TSLX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. Sixth Street Specialty Lending had a return on equity of 13.47% and a net margin of 39.56%. The firm had revenue of $115.00 million during the quarter, compared to the consensus estimate of $110.42 million. During the same period in the prior year, the company earned $0.58 EPS. Sell-side analysts forecast that Sixth Street Specialty Lending, Inc. will post 2.19 EPS for the current year.

Sixth Street Specialty Lending Increases Dividend

The business also recently announced a -- dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.46 dividend. This represents a yield of 770.0%. The ex-dividend date is Monday, September 15th. This is an increase from Sixth Street Specialty Lending's previous -- dividend of $0.06. Sixth Street Specialty Lending's dividend payout ratio (DPR) is currently 91.54%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. B. Riley assumed coverage on Sixth Street Specialty Lending in a research report on Tuesday, May 13th. They set a "buy" rating and a $23.00 target price for the company. 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 report on Thursday, April 24th. Wells Fargo & Company boosted their target price on shares of Sixth Street Specialty Lending from $21.00 to $24.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Raymond James Financial cut their price objective on shares of Sixth Street Specialty Lending from $24.00 to $23.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, JMP Securities upped their target price on Sixth Street Specialty Lending from $24.00 to $25.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $23.28.

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.