PNC Financial Services Group Inc. increased its holdings in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC – Free Report) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,418 shares of the investment management company’s stock after buying an additional 1,200 shares during the quarter. PNC Financial Services Group Inc.’s holdings in BlackRock TCP Capital were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Morton Brown Family Wealth LLC purchased a new position in shares of BlackRock TCP Capital during the 4th quarter worth about $32,000. MeadowBrook Investment Advisors LLC acquired a new position in BlackRock TCP Capital during the fourth quarter worth approximately $79,000. Axxcess Wealth Management LLC purchased a new position in BlackRock TCP Capital during the third quarter worth approximately $122,000. Spire Wealth Management boosted its holdings in shares of BlackRock TCP Capital by 15.6% in the 4th quarter. Spire Wealth Management now owns 12,851 shares of the investment management company’s stock valued at $149,000 after purchasing an additional 1,730 shares during the last quarter. Finally, Signaturefd LLC grew its stake in shares of BlackRock TCP Capital by 73.2% during the 4th quarter. Signaturefd LLC now owns 13,490 shares of the investment management company’s stock valued at $156,000 after buying an additional 5,700 shares during the period.
Analyst Ratings Changes
Several brokerages recently weighed in on TCPC. Raymond James lowered BlackRock TCP Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, March 1st. JMP Securities reaffirmed a “market perform” rating on shares of BlackRock TCP Capital in a research note on Friday, March 1st. Oppenheimer dropped their target price on shares of BlackRock TCP Capital from $11.00 to $10.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. StockNews.com cut shares of BlackRock TCP Capital from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of BlackRock TCP Capital from $11.50 to $10.50 and set a “market perform” rating for the company in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $10.67.
View Our Latest Stock Analysis on TCPC
BlackRock TCP Capital Stock Performance
Shares of NASDAQ:TCPC opened at $11.44 on Tuesday. The business’s 50-day simple moving average is $10.43 and its 200 day simple moving average is $11.03. The company has a market cap of $979.15 million, a P/E ratio of 32.69 and a beta of 1.47. The company has a debt-to-equity ratio of 1.37, a quick ratio of 19.05 and a current ratio of 19.05. BlackRock TCP Capital Corp. has a one year low of $9.90 and a one year high of $13.00.
BlackRock TCP Capital (NASDAQ:TCPC – Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The company had revenue of $55.73 million for the quarter, compared to analyst estimates of $50.99 million. BlackRock TCP Capital had a net margin of 9.69% and a return on equity of 13.95%. During the same quarter last year, the firm posted $0.44 earnings per share. On average, sell-side analysts forecast that BlackRock TCP Capital Corp. will post 1.71 earnings per share for the current fiscal year.
BlackRock TCP Capital Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.34 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.36 dividend on an annualized basis and a yield of 11.89%. BlackRock TCP Capital’s payout ratio is currently 388.58%.
BlackRock TCP Capital Profile
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.
Further Reading
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Source: defenseworld.net
