Bank of America Corp DE Purchases 11,572 Shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG)

Bank of America Corp DE increased its stake in TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 208.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,122 shares of the investment management company’s stock after acquiring an additional 11,572 shares during the period. Bank of America Corp DE’s holdings in TriplePoint Venture Growth BDC were worth $126,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Marshall Wace LLP lifted its stake in shares of TriplePoint Venture Growth BDC by 12.7% in the 4th quarter. Marshall Wace LLP now owns 364,591 shares of the investment management company’s stock valued at $2,691,000 after acquiring an additional 40,952 shares during the last quarter. Legal & General Group Plc increased its holdings in TriplePoint Venture Growth BDC by 1.3% during the 4th quarter. Legal & General Group Plc now owns 264,486 shares of the investment management company’s stock valued at $1,951,000 after purchasing an additional 3,418 shares during the period. Trexquant Investment LP increased its holdings in TriplePoint Venture Growth BDC by 35.5% during the 4th quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company’s stock valued at $1,676,000 after purchasing an additional 59,462 shares during the period. Townsquare Capital LLC increased its holdings in TriplePoint Venture Growth BDC by 11.9% during the 4th quarter. Townsquare Capital LLC now owns 84,873 shares of the investment management company’s stock valued at $626,000 after purchasing an additional 9,028 shares during the period. Finally, Alpine Global Management LLC purchased a new position in TriplePoint Venture Growth BDC during the 4th quarter valued at about $477,000. Institutional investors own 12.77% of the company’s stock.

Analysts Set New Price Targets

TPVG has been the topic of a number of research analyst reports. Compass Point reduced their price target on TriplePoint Venture Growth BDC from $8.00 to $7.25 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. UBS Group reduced their target price on TriplePoint Venture Growth BDC from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Piper Sandler reduced their target price on TriplePoint Venture Growth BDC from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their target price on TriplePoint Venture Growth BDC from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their target price on TriplePoint Venture Growth BDC from $6.50 to $5.50 and set an “underweight” rating on the stock in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $6.79.

TriplePoint Venture Growth BDC Trading Down 7.4%

TPVG stock opened at $6.68 on Tuesday. The stock has a market capitalization of $268.72 million, a PE ratio of 31.81 and a beta of 1.47. TriplePoint Venture Growth BDC Corp. has a 12-month low of $5.53 and a 12-month high of $9.17. The stock’s 50 day simple moving average is $6.50 and its 200 day simple moving average is $7.20.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings results on Wednesday, May 7th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.03). The firm had revenue of $22.45 million for the quarter, compared to the consensus estimate of $24.90 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. On average, research analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 earnings per share for the current year.

TriplePoint Venture Growth BDC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a $0.30 dividend. The ex-dividend date is Monday, June 16th. This represents a $1.20 dividend on an annualized basis and a yield of 17.97%. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 129.03%.

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.