PNC Financial Services Group Inc. acquired a new stake in shares of TCG BDC Inc (NASDAQ:CGBD) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,853 shares of the company’s stock, valued at approximately $73,000.
Several other institutional investors have also recently made changes to their positions in the company. Morgan Stanley boosted its holdings in TCG BDC by 15.7% during the 3rd quarter. Morgan Stanley now owns 1,204,384 shares of the company’s stock valued at $20,114,000 after acquiring an additional 163,878 shares during the period. Sageworth Trust Co lifted its holdings in TCG BDC by 81.6% in the 4th quarter. Sageworth Trust Co now owns 1,111,373 shares of the company’s stock worth $13,781,000 after buying an additional 499,524 shares during the period. Newport Trust Co lifted its holdings in TCG BDC by 35.4% in the 4th quarter. Newport Trust Co now owns 1,056,977 shares of the company’s stock worth $13,107,000 after buying an additional 276,271 shares during the period. BlackRock Inc. lifted its holdings in TCG BDC by 2.2% in the 3rd quarter. BlackRock Inc. now owns 304,369 shares of the company’s stock worth $5,083,000 after buying an additional 6,499 shares during the period. Finally, West Family Investments Inc. lifted its holdings in TCG BDC by 31.9% in the 4th quarter. West Family Investments Inc. now owns 280,000 shares of the company’s stock worth $3,472,000 after buying an additional 67,700 shares during the period. Hedge funds and other institutional investors own 27.96% of the company’s stock.
Several equities research analysts have weighed in on CGBD shares. JPMorgan Chase & Co. upgraded TCG BDC from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $16.50 to $15.50 in a report on Wednesday, January 16th. Zacks Investment Research upgraded TCG BDC from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Finally, ValuEngine cut TCG BDC from a “hold” rating to a “sell” rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.13.
Shares of CGBD traded up $0.01 on Friday, reaching $14.79. The stock had a trading volume of 231,701 shares, compared to its average volume of 277,099. The stock has a market cap of $908.79 million, a PE ratio of 8.55, a PEG ratio of 4.24 and a beta of 0.99. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.90. TCG BDC Inc has a 12-month low of $12.19 and a 12-month high of $18.41.
TCG BDC (NASDAQ:CGBD) last posted its quarterly earnings data on Tuesday, February 26th. The company reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.07. TCG BDC had a return on equity of 9.81% and a net margin of 18.85%. The company had revenue of $56.31 million during the quarter, compared to analyst estimates of $51.38 million. During the same quarter last year, the company earned $0.43 EPS. Equities analysts anticipate that TCG BDC Inc will post 1.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 17th. Investors of record on Friday, March 29th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 10.01%. The ex-dividend date was Thursday, March 28th. TCG BDC’s dividend payout ratio (DPR) is presently 85.55%.
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TCG BDC Profile
TCG BDC, Inc is a non-diversified closed-end investment company. The fund operates as a business development company. The company provides debt investments in the U.S. middle market companies. It also invests in first lien and second lien senior secured loans; middle market junior loans, such as corporate mezzanine loans, equity co-investments, syndicated first lien and second lien senior secured loans, high-yield bonds, structured finance obligations, and other opportunistic investments.
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