Legal & General Group Plc Takes Position in TriplePoint Venture Growth BDC Corp. $TPVG

Legal & General Group Plc acquired a new position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 325,584 shares of the investment management company’s stock, valued at approximately $1,597,000. Legal & General Group Plc owned 0.80% of TriplePoint Venture Growth BDC at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in TriplePoint Venture Growth BDC in the second quarter valued at about $754,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of TriplePoint Venture Growth BDC by 19.9% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company’s stock valued at $72,000 after purchasing an additional 2,435 shares during the period. Attessa Capital LLC bought a new stake in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at about $67,000. Cetera Investment Advisers increased its position in shares of TriplePoint Venture Growth BDC by 15.7% during the 1st quarter. Cetera Investment Advisers now owns 54,299 shares of the investment management company’s stock valued at $271,000 after purchasing an additional 7,355 shares during the last quarter. Finally, Summit Securities Group LLC increased its position in shares of TriplePoint Venture Growth BDC by 257.1% during the 1st quarter. Summit Securities Group LLC now owns 5,000 shares of the investment management company’s stock valued at $25,000 after purchasing an additional 3,600 shares during the last quarter. Hedge funds and other institutional investors own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Price Performance

TPVG stock opened at $5.23 on Monday. The business’s 50-day moving average price is $4.98 and its 200-day moving average price is $5.19. The stock has a market cap of $212.91 million, a P/E ratio of 5.28 and a beta of 1.31. TriplePoint Venture Growth BDC Corp. has a twelve month low of $4.39 and a twelve month high of $6.95.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results on Wednesday, August 5th. The investment management company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%. The company had revenue of $24.48 million for the quarter, compared to analysts’ expectations of $22.88 million. On average, equities research analysts expect that TriplePoint Venture Growth BDC Corp. will post 0.94 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be paid a dividend of $0.06 per share. The ex-dividend date is Wednesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.6%. TriplePoint Venture Growth BDC’s payout ratio is 92.93%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Piper Sandler dropped their price objective on shares of TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Monday, July 13th. Weiss Ratings cut shares of TriplePoint Venture Growth BDC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, September 1st. Keefe, Bruyette & Woods decreased their price target on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a “market perform” rating on the stock in a research report on Thursday, August 6th. Finally, Zacks Research upgraded shares of TriplePoint Venture Growth BDC from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, TriplePoint Venture Growth BDC presently has a consensus rating of “Reduce” and an average price target of $5.25.

TriplePoint Venture Growth BDC Company 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.