Raymond James Financial Services Advisors Inc. purchased a new position in TCG BDC Inc (NASDAQ:CGBD) in the 4th quarter, Holdings Channel reports. The fund purchased 56,065 shares of the company’s stock, valued at approximately $1,124,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new stake in TCG BDC during the 2nd quarter worth $571,000. Ameriprise Financial Inc. boosted its stake in TCG BDC by 3.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 360,000 shares of the company’s stock worth $6,775,000 after purchasing an additional 12,500 shares during the last quarter. Kayne Anderson Capital Advisors LP acquired a new stake in TCG BDC during the 3rd quarter worth $225,000. Van ECK Associates Corp acquired a new stake in TCG BDC during the 3rd quarter worth $8,410,000. Finally, Wells Fargo & Company MN boosted its stake in TCG BDC by 508.3% during the 3rd quarter. Wells Fargo & Company MN now owns 14,295 shares of the company’s stock worth $269,000 after purchasing an additional 11,945 shares during the last quarter. 13.94% of the stock is owned by institutional investors.
TCG BDC Inc (NASDAQ CGBD) opened at $17.84 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.74. The firm has a market cap of $1,108.09 and a PE ratio of 10.01. TCG BDC Inc has a 1 year low of $16.76 and a 1 year high of $20.30.
TCG BDC (NASDAQ:CGBD) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $49.51 million for the quarter, compared to analysts’ expectations of $46.10 million. TCG BDC had a net margin of 51.03% and a return on equity of 8.93%. analysts expect that TCG BDC Inc will post 1.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 17th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.48 annualized dividend and a dividend yield of 8.30%. TCG BDC’s payout ratio is 93.67%.
Separately, Zacks Investment Research raised shares of TCG BDC from a “sell” rating to a “hold” rating in a research note on Monday, November 13th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. TCG BDC has a consensus rating of “Buy” and a consensus price target of $19.50.
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TCG BDC Company Profile
TCG BDC, Inc, formerly Carlyle GMS Finance, Inc, is a managed and non-diversified closed-end investment company. The Company is focused on lending to middle market companies. The Company’s investment objective is to generate current income and capital appreciation primarily through debt investments in the United States and middle market companies.
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