Legal & General Group Plc Sells 44,398 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Legal & General Group Plc decreased its holdings in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC) by 7.3% during the 4th quarter, Holdings Channel reports. The firm owned 566,612 shares of the investment management company’s stock after selling 44,398 shares during the quarter. Legal & General Group Plc’s holdings in BlackRock TCP Capital were worth $4,938,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Avior Wealth Management LLC bought a new position in shares of BlackRock TCP Capital during the 4th quarter worth approximately $38,000. McIlrath & Eck LLC acquired a new position in shares of BlackRock TCP Capital during the 3rd quarter valued at $46,000. VSM Wealth Advisory LLC bought a new position in BlackRock TCP Capital during the fourth quarter worth $84,000. Entropy Technologies LP acquired a new stake in BlackRock TCP Capital in the fourth quarter worth $115,000. Finally, SeaCrest Wealth Management LLC increased its stake in BlackRock TCP Capital by 18.8% in the fourth quarter. SeaCrest Wealth Management LLC now owns 14,878 shares of the investment management company’s stock valued at $130,000 after purchasing an additional 2,350 shares in the last quarter.

BlackRock TCP Capital Stock Performance

Shares of TCPC opened at $6.68 on Tuesday. BlackRock TCP Capital Corp. has a 52 week low of $6.27 and a 52 week high of $11.52. The company has a debt-to-equity ratio of 1.34, a quick ratio of 39.37 and a current ratio of 39.37. The stock has a 50 day moving average price of $7.93 and a two-hundred day moving average price of $8.48. The firm has a market capitalization of $568.31 million, a P/E ratio of -13.36 and a beta of 1.21.

BlackRock TCP Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 14.97%. The ex-dividend date of this dividend was Monday, March 17th. BlackRock TCP Capital’s dividend payout ratio (DPR) is presently -133.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TCPC. Keefe, Bruyette & Woods reduced their target price on BlackRock TCP Capital from $8.50 to $7.50 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. StockNews.com upgraded BlackRock TCP Capital from a “sell” rating to a “hold” rating in a report on Saturday, April 12th. Finally, Wells Fargo & Company lowered their target price on BlackRock TCP Capital from $8.00 to $7.50 and set an “underweight” rating on the stock in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, BlackRock TCP Capital currently has an average rating of “Hold” and a consensus price target of $8.33.

Insiders Place Their Bets

In other BlackRock TCP Capital news, COO Patrick Wolfe purchased 6,100 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was bought at an average cost of $8.12 per share, with a total value of $49,532.00. Following the completion of the transaction, the chief operating officer now owns 8,003 shares of the company’s stock, valued at $64,984.36. The trade was a 320.55 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Philip M. Tseng purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average cost of $7.74 per share, for a total transaction of $77,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 38,587 shares in the company, valued at $298,663.38. The trade was a 34.98 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 18,500 shares of company stock valued at $146,444 in the last three months. 0.16% of the stock is currently owned by insiders.

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.