Sumitomo Mitsui Asset Management Company LTD raised its position in BlackRock TCP Capital Corp (NASDAQ:TCPC) by 19.1% in the 1st quarter, HoldingsChannel reports. The fund owned 217,522 shares of the investment management company’s stock after acquiring an additional 34,936 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in BlackRock TCP Capital were worth $3,084,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in TCPC. Joel Isaacson & Co. LLC purchased a new stake in BlackRock TCP Capital during the fourth quarter valued at about $209,000. Oppenheimer & Co. Inc. increased its holdings in shares of BlackRock TCP Capital by 8.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 41,090 shares of the investment management company’s stock worth $536,000 after buying an additional 3,287 shares during the period. D.A. Davidson & CO. increased its holdings in shares of BlackRock TCP Capital by 4.3% in the fourth quarter. D.A. Davidson & CO. now owns 248,194 shares of the investment management company’s stock worth $3,236,000 after buying an additional 10,239 shares during the period. CFO4Life Group LLC purchased a new position in shares of BlackRock TCP Capital in the fourth quarter worth about $152,000. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of BlackRock TCP Capital by 12.2% in the fourth quarter. CIBC Private Wealth Group LLC now owns 96,460 shares of the investment management company’s stock worth $1,258,000 after buying an additional 10,513 shares during the period. Institutional investors own 46.04% of the company’s stock.
NASDAQ TCPC opened at $14.54 on Friday. The company has a current ratio of 3.75, a quick ratio of 12.33 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $853.87 million, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 3.00 and a beta of 0.80. BlackRock TCP Capital Corp has a 1 year low of $12.52 and a 1 year high of $14.98.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.36 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 9.90%. BlackRock TCP Capital’s payout ratio is presently 90.57%.
TCPC has been the topic of several recent analyst reports. BidaskClub raised BlackRock TCP Capital from a “sell” rating to a “hold” rating in a research note on Saturday, February 23rd. National Securities cut their target price on BlackRock TCP Capital from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. Zacks Investment Research cut BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Finally, TheStreet cut BlackRock TCP Capital from a “b-” rating to a “c+” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. BlackRock TCP Capital presently has a consensus rating of “Hold” and an average price target of $16.50.
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BlackRock TCP Capital Profile
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It seeks to invest in the United States.
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