Legal & General Group Plc bought a new position in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 325,584 shares of the investment management company’s stock, valued at approximately $1,597,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in TriplePoint Venture Growth BDC in the 2nd quarter worth approximately $754,000. Squarepoint Ops LLC bought a new stake in shares of TriplePoint Venture Growth BDC during the fourth quarter valued at approximately $121,000. Oxford Asset Management LLP bought a new stake in shares of TriplePoint Venture Growth BDC during the fourth quarter valued at approximately $74,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of TriplePoint Venture Growth BDC in the second quarter worth $35,000. Finally, Advisory Services Network LLC purchased a new position in shares of TriplePoint Venture Growth BDC in the third quarter worth $33,000. Institutional investors own 12.77% of the company’s stock.
TriplePoint Venture Growth BDC Price Performance
TriplePoint Venture Growth BDC stock opened at $5.23 on Monday. TriplePoint Venture Growth BDC Corp. has a 52-week low of $4.39 and a 52-week high of $6.95. The firm’s fifty day moving average is $4.98 and its 200 day moving average is $5.19. The company has a market cap of $212.91 million, a price-to-earnings ratio of 5.28 and a beta of 1.31.
TriplePoint Venture Growth BDC Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be given a $0.06 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $0.24 annualized dividend and a yield of 4.6%. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is currently 92.93%.
Wall Street Analyst Weigh In
TPVG has been the subject of several research analyst reports. Zacks Research raised shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Piper Sandler decreased their price target on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating on the stock in a research note on Monday, July 13th. Weiss Ratings downgraded shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, September 1st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating for the company in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $5.25.
View Our Latest Stock Analysis on TriplePoint Venture Growth BDC
TriplePoint Venture Growth BDC Profile
TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.
Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.
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