Advisors Asset Management Inc. Trims Holdings in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Advisors Asset Management Inc. trimmed its position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,797 shares of the investment management company’s stock after selling 6,734 shares during the period. Advisors Asset Management Inc. owned about 0.17% of TriplePoint Venture Growth BDC worth $493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 4.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 31,132 shares of the investment management company’s stock worth $250,000 after acquiring an additional 1,346 shares during the period. Kovack Advisors Inc. lifted its holdings in shares of TriplePoint Venture Growth BDC by 7.8% during the 3rd quarter. Kovack Advisors Inc. now owns 37,100 shares of the investment management company’s stock worth $262,000 after acquiring an additional 2,700 shares during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 19.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company’s stock worth $153,000 after acquiring an additional 3,100 shares during the period. Diversify Advisory Services LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 31.2% during the 3rd quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock worth $94,000 after acquiring an additional 3,378 shares during the period. Finally, Norden Group LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 21.4% during the 2nd quarter. Norden Group LLC now owns 21,678 shares of the investment management company’s stock worth $174,000 after acquiring an additional 3,818 shares during the period. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

TriplePoint Venture Growth BDC Stock Up 0.4 %

Shares of NYSE:TPVG opened at $8.19 on Thursday. TriplePoint Venture Growth BDC Corp. has a 52-week low of $6.44 and a 52-week high of $11.58. The company has a 50 day moving average of $7.15 and a two-hundred day moving average of $7.92. The company has a market capitalization of $328.01 million, a price-to-earnings ratio of 39.00 and a beta of 1.80.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The company had revenue of $26.52 million during the quarter, compared to the consensus estimate of $25.65 million. During the same quarter last year, the company earned $0.54 earnings per share. On average, equities analysts anticipate that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.65%. The ex-dividend date of this dividend is Friday, December 13th. TriplePoint Venture Growth BDC’s payout ratio is currently 571.46%.

Analysts Set New Price Targets

Several research firms recently commented on TPVG. Wells Fargo & Company raised their price target on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut their price target for the company from $8.00 to $7.50 in a report on Thursday, November 7th. Piper Sandler cut their price target on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a report on Thursday, November 7th. LADENBURG THALM/SH SH lowered shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their price target for the company from $8.50 to $8.00 in a report on Friday, August 9th. Finally, StockNews.com upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.85.

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.