Truist Financial Corp lessened its holdings in TCG BDC, Inc. (NASDAQ:CGBD) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 655,677 shares of the company’s stock after selling 32,834 shares during the period. Truist Financial Corp owned about 1.16% of TCG BDC worth $6,728,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in shares of TCG BDC in the fourth quarter worth $41,000. Comerica Bank acquired a new stake in TCG BDC during the fourth quarter valued at $128,000. Virtu Financial LLC acquired a new stake in TCG BDC during the third quarter valued at $113,000. GSA Capital Partners LLP boosted its position in TCG BDC by 28.2% during the fourth quarter. GSA Capital Partners LLP now owns 14,226 shares of the company’s stock valued at $146,000 after purchasing an additional 3,126 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in TCG BDC during the third quarter valued at $147,000. 24.48% of the stock is owned by institutional investors and hedge funds.
TCG BDC stock opened at $13.64 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.97 and a current ratio of 0.97. The business’s 50-day simple moving average is $13.00 and its 200-day simple moving average is $10.95. The firm has a market capitalization of $750.87 million, a PE ratio of -80.24 and a beta of 2.11. TCG BDC, Inc. has a 52 week low of $5.15 and a 52 week high of $13.88.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 16th. Investors of record on Wednesday, March 31st will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, March 30th. This represents a $1.48 annualized dividend and a yield of 10.85%. TCG BDC’s dividend payout ratio is 71.51%.
A number of analysts recently issued reports on the company. Citigroup lifted their price objective on TCG BDC from $11.00 to $14.50 in a research report on Friday, February 26th. Zacks Investment Research upgraded TCG BDC from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.10.
About TCG BDC
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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