Sumitomo Mitsui Trust Holdings Inc. increases its equity position in BlackRock TCP Capital Corp. (NASDAQ:TCPC)
Sumitomo Mitsui Trust Holdings Inc. raised its position in BlackRock TCP Capital Corp. (NASDAQ: TCPC – Get Rating) by 17.8% during the 1st quarter, according to its last filing with the Securities and Exchange Commission. The company held 266,935 shares of the investment management company after purchasing an additional 40,386 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in BlackRock TCP Capital were worth $3,817,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently changed their stakes in the company. Bogart Wealth LLC increased its stake in BlackRock TCP Capital by 145.3% during the 1st quarter. Bogart Wealth LLC now owns 7,358 shares of the investment management firm worth $105,000 after buying 4,359 additional shares last quarter. Eagle Global Advisors LLC acquired a new position in BlackRock TCP Capital during Q4 worth $178,000. Goodwin Daniel L acquired a new position in BlackRock TCP Capital during Q1 worth $179,000. MQS Management LLC acquired a new position in BlackRock TCP Capital during Q4 worth $189,000. Finally, First Republic Investment Management Inc. increased its stake in BlackRock TCP Capital by 16.2% during the 4th quarter. First Republic Investment Management Inc. now owns 15,094 shares of the investment management company worth $204,000 after buying 2,107 more shares last quarter. Hedge funds and other institutional investors hold 24.89% of the company’s shares.
BlackRock TCP Capital trades up 1.3%
NASDAQ: TCPC opened Wednesday at $12.79. The stock has a 50-day simple moving average of $12.93 and a 200-day simple moving average of $13.51. The stock has a market capitalization of $738.88 million, a P/E ratio of 6.66 and a beta of 1.45. BlackRock TCP Capital Corp. has a 1-year low of $11.76 and a 1-year high of $14.52. The company has a debt ratio of 1.25, a quick ratio of 23.74 and a current ratio of 23.74.
BlackRock TCP Capital (NASDAQ:TCPC – Get Rating) last released quarterly earnings data on Wednesday, May 4. The investment management firm reported earnings per share (EPS) of $0.34 for the quarter, beating the consensus estimate of $0.32 by $0.02. The company posted revenue of $42.15 million in the quarter, compared to $40.55 million expected by analysts. BlackRock TCP Capital had a return on equity of 8.98% and a net margin of 66.68%. During the same period a year earlier, the company posted EPS of $0.32. As a group, analysts expect BlackRock TCP Capital Corp. will post 1.31 earnings per share for the current fiscal year.
BlackRock TCP Capital Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Thursday, June 16 received a dividend of $0.30 per share. The ex-dividend date was Wednesday, June 15. This represents an annualized dividend of $1.20 and a dividend yield of 9.38%. BlackRock TCP Capital’s dividend payout ratio is currently 62.50%.
Wall Street analysts predict growth
Separately, StockNews.com launched coverage on BlackRock TCP Capital in a research note on Thursday, March 31. They set a “holding” rating for the company.
About BlackRock TCP Capital
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BlackRock TCP Capital Corp. is a business development company specializing in direct middle market equity and debt investments, debt securities, senior secured loans, junior loans, insider loans, mezzanine securities, senior debt, bonds and secondary market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, clothing, textile mills, restaurants, retail, energy, oil extraction and gas, patent owners and lessors, state and federal credit agencies, insurance, hospitals and health centers, biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific consulting and related services , air freight charter, information technology consulting, application hosting services, software layout and design, computer aided design, communication equipment, electronic manufacturing equipment, computer components, chemicals.
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