Raymond James & Associates Has $355,000 Stock Position in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Raymond James & Associates raised its holdings in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 13.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,689 shares of the investment management company’s stock after acquiring an additional 3,928 shares during the quarter. Raymond James & Associates’ holdings in TriplePoint Venture Growth BDC were worth $355,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TPVG. Dfpg Investments LLC bought a new position in shares of TriplePoint Venture Growth BDC during the 4th quarter worth approximately $116,000. Portside Wealth Group LLC grew its stake in shares of TriplePoint Venture Growth BDC by 10.7% in the third quarter. Portside Wealth Group LLC now owns 11,675 shares of the investment management company’s stock valued at $121,000 after buying an additional 1,125 shares in the last quarter. Prime Capital Investment Advisors LLC bought a new position in shares of TriplePoint Venture Growth BDC in the third quarter valued at $139,000. Commonwealth Equity Services LLC grew its stake in shares of TriplePoint Venture Growth BDC by 4.1% in the third quarter. Commonwealth Equity Services LLC now owns 31,740 shares of the investment management company’s stock valued at $332,000 after buying an additional 1,264 shares in the last quarter. Finally, All Season Financial Advisors Inc. grew its stake in shares of TriplePoint Venture Growth BDC by 5.9% in the third quarter. All Season Financial Advisors Inc. now owns 34,292 shares of the investment management company’s stock valued at $359,000 after buying an additional 1,916 shares in the last quarter. 12.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TPVG has been the subject of several research reports. StockNews.com downgraded TriplePoint Venture Growth BDC from a “hold” rating to a “sell” rating in a report on Thursday, March 7th. Compass Point raised TriplePoint Venture Growth BDC from a “sell” rating to a “neutral” rating and set a $8.75 price target for the company in a report on Friday, March 22nd. JMP Securities reaffirmed a “market perform” rating on shares of TriplePoint Venture Growth BDC in a report on Thursday, March 7th. Keefe, Bruyette & Woods cut their price target on TriplePoint Venture Growth BDC from $9.50 to $9.00 and set an “underperform” rating for the company in a report on Thursday, March 7th. Finally, Wells Fargo & Company cut their price target on TriplePoint Venture Growth BDC from $11.00 to $9.50 and set an “equal weight” rating for the company in a report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, TriplePoint Venture Growth BDC presently has an average rating of “Hold” and an average target price of $10.38.

TriplePoint Venture Growth BDC Stock Performance

TPVG opened at $9.55 on Monday. TriplePoint Venture Growth BDC Corp. has a fifty-two week low of $8.88 and a fifty-two week high of $12.70. The company has a market capitalization of $359.27 million, a P/E ratio of -8.68 and a beta of 1.77. The stock has a fifty day moving average of $9.73 and a 200-day moving average of $10.28.

TriplePoint Venture Growth BDC (NYSE:TPVG) last posted its earnings results on Wednesday, March 6th. The investment management company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). TriplePoint Venture Growth BDC had a positive return on equity of 19.50% and a negative net margin of 28.96%. The firm had revenue of $32.97 million for the quarter, compared to analyst estimates of $33.38 million. On average, equities research analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.69 earnings per share for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 16.75%. The ex-dividend date of this dividend was Wednesday, March 13th. TriplePoint Venture Growth BDC’s dividend payout ratio (DPR) is presently -145.45%.

About TriplePoint Venture Growth BDC

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.