Sumitomo Mitsui Trust Group Inc. Grows Position in Blackrock Tcp Capital Corp. (NASDAQ:TCPC)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Blackrock Tcp Capital Corp. (NASDAQ:TCPC) by 9.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 260,862 shares of the investment management company’s stock after buying an additional 22,430 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Blackrock Tcp Capital were worth $2,090,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its holdings in Blackrock Tcp Capital by 177.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,488 shares of the investment management company’s stock valued at $48,000 after acquiring an additional 3,508 shares during the period. Transce3nd LLC bought a new stake in Blackrock Tcp Capital during the fourth quarter valued at about $70,000. Kingswood Wealth Advisors LLC bought a new stake in Blackrock Tcp Capital during the first quarter valued at about $81,000. Wealth Enhancement Advisory Services LLC bought a new stake in Blackrock Tcp Capital during the first quarter valued at about $83,000. Finally, VSM Wealth Advisory LLC bought a new stake in Blackrock Tcp Capital during the fourth quarter valued at about $84,000.

Blackrock Tcp Capital Stock Performance

Shares of TCPC stock opened at $7.80 on Friday. Blackrock Tcp Capital Corp. has a 1 year low of $6.27 and a 1 year high of $11.06. The company has a debt-to-equity ratio of 1.41, a current ratio of 34.00 and a quick ratio of 34.00. The stock’s 50 day simple moving average is $7.53 and its two-hundred day simple moving average is $8.03. The company has a market cap of $663.31 million, a PE ratio of -13.45 and a beta of 1.02.

Blackrock Tcp Capital (NASDAQ:TCPC) last issued its quarterly earnings data on Thursday, May 8th. The investment management company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Blackrock Tcp Capital had a positive return on equity of 15.51% and a negative net margin of 18.22%. The business had revenue of $55.89 million for the quarter, compared to the consensus estimate of $57.95 million. Research analysts predict that Blackrock Tcp Capital Corp. will post 1.65 earnings per share for the current year.

Blackrock Tcp Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 16th. This represents a $1.00 dividend on an annualized basis and a yield of 12.82%. Blackrock Tcp Capital’s dividend payout ratio (DPR) is presently -172.41%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Blackrock Tcp Capital from $7.50 to $6.50 and set an “underweight” rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their target price on Blackrock Tcp Capital from $8.50 to $7.50 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th. Finally, Wall Street Zen upgraded Blackrock Tcp Capital from a “hold” rating to a “buy” rating in a research report on Saturday.

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.