Raymond James Financial Inc. Buys Shares of 36,116 TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Raymond James Financial Inc. bought a new stake in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) in the fourth quarter, HoldingsChannel.com reports. The firm bought 36,116 shares of the investment management company’s stock, valued at approximately $267,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth $41,000. EverSource Wealth Advisors LLC increased its stake in shares of TriplePoint Venture Growth BDC by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock worth $74,000 after purchasing an additional 2,000 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth $120,000. Diversify Wealth Management LLC increased its stake in shares of TriplePoint Venture Growth BDC by 53.4% in the 4th quarter. Diversify Wealth Management LLC now owns 18,830 shares of the investment management company’s stock worth $142,000 after purchasing an additional 6,553 shares in the last quarter. Finally, Norden Group LLC increased its stake in shares of TriplePoint Venture Growth BDC by 47.2% in the 4th quarter. Norden Group LLC now owns 25,998 shares of the investment management company’s stock worth $192,000 after purchasing an additional 8,338 shares in the last quarter. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TPVG has been the subject of several analyst reports. Wells Fargo & Company reduced their price objective on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an “underweight” rating for the company in a research note on Monday, April 28th. Piper Sandler reduced their price objective on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, April 8th. UBS Group dropped their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Compass Point dropped their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating for the company in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.79.

TriplePoint Venture Growth BDC Stock Performance

Shares of TriplePoint Venture Growth BDC stock opened at $6.21 on Monday. The company has a market capitalization of $249.85 million, a P/E ratio of 29.57 and a beta of 1.49. The company has a fifty day moving average of $6.55 and a 200 day moving average of $7.30. TriplePoint Venture Growth BDC Corp. has a fifty-two week low of $5.53 and a fifty-two week high of $9.70.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, May 7th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.03). TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The company had revenue of $22.45 million for the quarter, compared to the consensus estimate of $24.90 million. Analysts forecast that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 19.32%. The ex-dividend date of this dividend is Monday, June 16th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently 129.03%.

TriplePoint Venture Growth BDC Profile

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.