669,081 Shares in Blackrock Tcp Capital Corp. $TCPC Purchased by Legal & General Group Plc

Legal & General Group Plc bought a new position in Blackrock Tcp Capital Corp. (NASDAQ:TCPC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 669,081 shares of the investment management company’s stock, valued at approximately $2,245,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co increased its position in shares of Blackrock Tcp Capital by 2.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 105,870 shares of the investment management company’s stock valued at $577,000 after buying an additional 2,943 shares during the period. Raymond James Financial Inc. boosted its position in shares of Blackrock Tcp Capital by 7.7% in the second quarter. Raymond James Financial Inc. now owns 90,675 shares of the investment management company’s stock valued at $698,000 after acquiring an additional 6,509 shares during the period. Caxton Associates LLP grew its stake in Blackrock Tcp Capital by 16.2% during the second quarter. Caxton Associates LLP now owns 60,779 shares of the investment management company’s stock valued at $468,000 after acquiring an additional 8,479 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in Blackrock Tcp Capital by 10.1% during the 1st quarter. Sunbelt Securities Inc. now owns 101,969 shares of the investment management company’s stock worth $368,000 after acquiring an additional 9,364 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new stake in Blackrock Tcp Capital in the 3rd quarter worth approximately $65,000.

Analyst Ratings Changes

TCPC has been the subject of several analyst reports. Wall Street Zen raised shares of Blackrock Tcp Capital from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Blackrock Tcp Capital in a report on Friday, August 28th. Finally, Keefe, Bruyette & Woods upgraded Blackrock Tcp Capital from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $3.50 to $4.00 in a research report on Friday, August 7th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $3.75.

Blackrock Tcp Capital Price Performance

Shares of Blackrock Tcp Capital stock opened at $4.07 on Friday. The firm has a market capitalization of $341.49 million, a PE ratio of -3.18 and a beta of 0.98. The company has a current ratio of 33.70, a quick ratio of 33.70 and a debt-to-equity ratio of 1.65. Blackrock Tcp Capital Corp. has a 12 month low of $3.08 and a 12 month high of $7.28. The business’s 50-day moving average price is $3.63 and its 200-day moving average price is $3.81.

Blackrock Tcp Capital (NASDAQ:TCPC) last released its earnings results on Thursday, August 6th. The investment management company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. The company had revenue of $40.02 million during the quarter, compared to the consensus estimate of $38.36 million. Blackrock Tcp Capital had a positive return on equity of 13.85% and a negative net margin of 61.27%. Sell-side analysts forecast that Blackrock Tcp Capital Corp. will post 0.68 EPS for the current fiscal year.

Blackrock Tcp Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 16.7%. Blackrock Tcp Capital’s dividend payout ratio is -53.13%.

About Blackrock Tcp Capital

BlackRock TCP Capital Corp is a publicly traded business development company (BDC) listed on the NASDAQ under the ticker TCPC. Externally managed by BlackRock, the firm provides customized financing solutions to U.S. middle-market companies, with a focus on sponsor-backed transactions. Its core strategy centers on delivering current income and capital appreciation through a diversified portfolio of debt and equity investments across a variety of sectors, including consumer products, healthcare, business services and industrials.

Since its initial public offering in 2013, BlackRock TCP Capital has partnered with private equity sponsors to underwrite and structure senior secured first-lien loans, second-lien loans, mezzanine debt and select equity co-investments.