Legal & General Group Plc Acquires Shares of 310,317 Fidus Investment Corporation $FDUS

Legal & General Group Plc acquired a new position in Fidus Investment Corporation (NASDAQ:FDUS) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 310,317 shares of the asset manager’s stock, valued at approximately $5,921,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Fidus Investment during the first quarter worth approximately $270,000. Jane Street Group LLC acquired a new stake in Fidus Investment during the 1st quarter worth approximately $475,000. Invesco Ltd. lifted its position in Fidus Investment by 2.2% in the 2nd quarter. Invesco Ltd. now owns 446,703 shares of the asset manager’s stock valued at $9,023,000 after acquiring an additional 9,637 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Fidus Investment by 39.8% in the second quarter. Qube Research & Technologies Ltd now owns 64,929 shares of the asset manager’s stock valued at $1,312,000 after purchasing an additional 18,489 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in Fidus Investment in the 2nd quarter valued at approximately $549,000. 28.14% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FDUS has been the subject of several research reports. Weiss Ratings raised shares of Fidus Investment from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and set a $19.50 target price on shares of Fidus Investment in a report on Monday, July 20th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $19.50.

Fidus Investment Stock Performance

NASDAQ:FDUS opened at $19.58 on Friday. Fidus Investment Corporation has a 52-week low of $16.86 and a 52-week high of $21.67. The company has a market cap of $743.06 million, a P/E ratio of 9.37 and a beta of 0.67. The stock’s 50-day simple moving average is $19.79 and its 200 day simple moving average is $18.84.

Fidus Investment (NASDAQ:FDUS) last posted its quarterly earnings results on Thursday, August 6th. The asset manager reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. The firm had revenue of $32.55 million during the quarter, compared to the consensus estimate of $42.37 million. Fidus Investment had a return on equity of 10.87% and a net margin of 45.36%. As a group, equities analysts predict that Fidus Investment Corporation will post 2.16 earnings per share for the current fiscal year.

Fidus Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.72 annualized dividend and a dividend yield of 8.8%. Fidus Investment’s dividend payout ratio (DPR) is currently 82.30%.

Fidus Investment Company Profile

Fidus Investment Corporation (NASDAQ: FDUS) is a closed-end, externally managed business development company (BDC) that provides specialized financing solutions to U.S. middle-market companies. Operated by Fidus Investment Advisors, LLC, a registered investment adviser, the company is regulated under the Investment Company Act of 1940 and trades on the Nasdaq Capital Market.

The firm focuses on structuring senior secured and unitranche loans, mezzanine debt and equity investments for established businesses across a range of industries.