TCW Group Inc. acquired a new position in shares of TCG BDC Inc (NASDAQ:CGBD) in the first quarter, Holdings Channel reports. The institutional investor acquired 15,500 shares of the company’s stock, valued at approximately $224,000.
Several other institutional investors also recently made changes to their positions in CGBD. JPMorgan Chase & Co. grew its holdings in shares of TCG BDC by 79.5% during the third quarter. JPMorgan Chase & Co. now owns 92,098 shares of the company’s stock valued at $1,538,000 after buying an additional 40,787 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of TCG BDC by 51.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 105,458 shares of the company’s stock valued at $1,308,000 after buying an additional 35,684 shares in the last quarter. Whittier Trust Co. purchased a new position in shares of TCG BDC during the fourth quarter valued at $166,000. West Family Investments Inc. grew its holdings in shares of TCG BDC by 31.9% during the fourth quarter. West Family Investments Inc. now owns 280,000 shares of the company’s stock valued at $3,472,000 after buying an additional 67,700 shares in the last quarter. Finally, Synovus Financial Corp purchased a new position in shares of TCG BDC during the fourth quarter valued at $54,000. 26.76% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ CGBD opened at $15.19 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.04. TCG BDC Inc has a one year low of $12.19 and a one year high of $18.00. The stock has a market capitalization of $909.20 million, a price-to-earnings ratio of 8.78, a PEG ratio of 4.26 and a beta of 0.89.
TCG BDC (NASDAQ:CGBD) last issued its earnings results on Tuesday, May 7th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. TCG BDC had a return on equity of 10.19% and a net margin of 24.05%. The firm had revenue of $55.19 million for the quarter, compared to the consensus estimate of $56.70 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. On average, equities research analysts anticipate that TCG BDC Inc will post 1.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 17th. Shareholders of record on Friday, June 28th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.48 dividend on an annualized basis and a yield of 9.74%. TCG BDC’s dividend payout ratio (DPR) is currently 85.55%.
A number of brokerages have commented on CGBD. Zacks Investment Research upgraded TCG BDC from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. ValuEngine upgraded TCG BDC from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $16.13.
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TCG BDC Profile
TCG BDC, Inc is a non-diversified closed-end investment company. The fund operates as a business development company. The company provides debt investments in the U.S. middle market companies. It also invests in first lien and second lien senior secured loans; middle market junior loans, such as corporate mezzanine loans, equity co-investments, syndicated first lien and second lien senior secured loans, high-yield bonds, structured finance obligations, and other opportunistic investments.
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