Ameriprise Financial Inc. Boosts Stock Holdings in Trinity Capital Inc. (NASDAQ:TRIN)

Ameriprise Financial Inc. raised its holdings in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 38.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,686 shares of the company’s stock after buying an additional 90,580 shares during the period. Ameriprise Financial Inc. owned about 0.55% of Trinity Capital worth $4,684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Aquatic Capital Management LLC purchased a new stake in Trinity Capital during the 4th quarter worth approximately $124,000. Blue Trust Inc. raised its holdings in Trinity Capital by 27.2% during the fourth quarter. Blue Trust Inc. now owns 9,814 shares of the company’s stock worth $133,000 after purchasing an additional 2,100 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Trinity Capital during the fourth quarter valued at about $152,000. Colonial River Investments LLC acquired a new stake in Trinity Capital during the fourth quarter valued at approximately $158,000. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of Trinity Capital during the fourth quarter valued at $158,000. Institutional investors and hedge funds own 24.62% of the company’s stock.

Trinity Capital Price Performance

Shares of TRIN stock opened at $14.47 on Monday. The stock’s fifty day moving average is $14.69 and its 200-day moving average is $14.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. Trinity Capital Inc. has a 52 week low of $12.50 and a 52 week high of $16.82. The stock has a market capitalization of $935.50 million, a PE ratio of 8.46 and a beta of 0.57.

Trinity Capital (NASDAQ:TRIN) last released its earnings results on Wednesday, May 7th. The company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.01). Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. The firm had revenue of $65.39 million during the quarter, compared to analyst estimates of $67.67 million. Equities research analysts expect that Trinity Capital Inc. will post 2.06 EPS for the current fiscal year.

Trinity Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.51 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.10%. Trinity Capital’s dividend payout ratio is 93.15%.

Insider Activity

In related news, Director Richard P. Hamada sold 3,335 shares of the company’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $14.90, for a total transaction of $49,691.50. Following the sale, the director now owns 93,735 shares in the company, valued at approximately $1,396,651.50. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kyle Steven Brown purchased 3,513 shares of the business’s stock in a transaction on Friday, May 9th. The stock was purchased at an average price of $14.22 per share, with a total value of $49,954.86. Following the purchase, the chief executive officer now owns 55,332 shares of the company’s stock, valued at approximately $786,821.04. The trade was a 6.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. 5.31% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their target price on Trinity Capital from $16.00 to $15.00 and set a “market perform” rating for the company in a report on Thursday, May 8th. Wells Fargo & Company lowered their price target on Trinity Capital from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Monday, April 28th. B. Riley assumed coverage on Trinity Capital in a research report on Tuesday, May 13th. They set a “buy” rating and a $16.00 target price on the stock. Finally, UBS Group cut their price target on shares of Trinity Capital from $18.00 to $16.50 and set a “buy” rating for the company in a research note on Thursday, April 17th.

Trinity Capital Company Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.