Legal & General Group Plc Acquires 2,988 Shares of Triplepoint Venture Growth BDC Corp (NYSE:TPVG)

Legal & General Group Plc increased its holdings in shares of Triplepoint Venture Growth BDC Corp (NYSE:TPVG) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,050 shares of the investment management company’s stock after acquiring an additional 2,988 shares during the period. Legal & General Group Plc owned about 0.46% of Triplepoint Venture Growth BDC worth $803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in shares of Triplepoint Venture Growth BDC by 255.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,470 shares of the investment management company’s stock worth $54,000 after purchasing an additional 6,804 shares during the last quarter. Victory Capital Management Inc. raised its stake in Triplepoint Venture Growth BDC by 18.6% during the 4th quarter. Victory Capital Management Inc. now owns 5,301 shares of the investment management company’s stock worth $72,000 after buying an additional 832 shares during the period. Bank of America Corp DE raised its stake in Triplepoint Venture Growth BDC by 126.9% during the 4th quarter. Bank of America Corp DE now owns 5,490 shares of the investment management company’s stock worth $78,000 after buying an additional 3,070 shares during the period. Capital Wealth Planning LLC acquired a new stake in Triplepoint Venture Growth BDC during the 1st quarter worth $84,000. Finally, Keebeck Alpha LP acquired a new stake in Triplepoint Venture Growth BDC during the 1st quarter worth $111,000. Hedge funds and other institutional investors own 28.31% of the company’s stock.

Several brokerages recently commented on TPVG. ValuEngine raised Triplepoint Venture Growth BDC from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 27th. Deutsche Bank dropped their price objective on Triplepoint Venture Growth BDC from $15.50 to $11.50 and set a “buy” rating on the stock in a research note on Friday, May 8th. Keefe, Bruyette & Woods lifted their price target on Triplepoint Venture Growth BDC from $8.00 to $9.00 and gave the company a “market perform” rating in a research note on Thursday, May 7th. Compass Point downgraded Triplepoint Venture Growth BDC from a “buy” rating to a “neutral” rating and lifted their price target for the company from $8.00 to $8.50 in a research note on Wednesday, May 13th. Finally, Zacks Investment Research downgraded Triplepoint Venture Growth BDC from a “hold” rating to a “sell” rating in a research note on Friday, May 29th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Triplepoint Venture Growth BDC presently has a consensus rating of “Hold” and a consensus target price of $11.56.

Shares of NYSE TPVG opened at $10.28 on Wednesday. The stock has a market capitalization of $316.11 million, a price-to-earnings ratio of 15.34 and a beta of 1.84. The business has a 50-day moving average of $9.89 and a 200-day moving average of $10.75. Triplepoint Venture Growth BDC Corp has a fifty-two week low of $2.80 and a fifty-two week high of $17.17.

Triplepoint Venture Growth BDC (NYSE:TPVG) last announced its quarterly earnings data on Wednesday, May 6th. The investment management company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.02. The company had revenue of $20.84 million during the quarter, compared to analysts’ expectations of $22.46 million. Triplepoint Venture Growth BDC had a return on equity of 11.47% and a net margin of 20.29%. On average, sell-side analysts anticipate that Triplepoint Venture Growth BDC Corp will post 1.45 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 14.01%. The ex-dividend date of this dividend was Monday, June 15th. Triplepoint Venture Growth BDC’s payout ratio is 93.51%.

About Triplepoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp is a business development company specializing investments in growth stage. It also provides debt financing to venture growth space companies which includes growth capital loans, equipment financings, revolving loans, and direct equity investments. The fund seeks to invest in e-commerce, entertainment, technology and life sciences sector.

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Institutional Ownership by Quarter for Triplepoint Venture Growth BDC (NYSE:TPVG)

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