AE Wealth Management LLC increased its position in BlackRock TCP Capital Corp. (NASDAQ:TCPC – Get Rating) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,652 shares of the investment management company’s stock after purchasing an additional 4,080 shares during the quarter. AE Wealth Management LLC’s holdings in BlackRock TCP Capital were worth $433,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE lifted its position in BlackRock TCP Capital by 6.6% in the first quarter. Bank of America Corp DE now owns 617,246 shares of the investment management company’s stock worth $8,827,000 after purchasing an additional 38,268 shares during the period. Ares Management LLC raised its stake in BlackRock TCP Capital by 5.2% during the first quarter. Ares Management LLC now owns 386,727 shares of the investment management company’s stock worth $5,530,000 after acquiring an additional 19,038 shares in the last quarter. Advisors Asset Management Inc. raised its stake in BlackRock TCP Capital by 6.1% during the first quarter. Advisors Asset Management Inc. now owns 357,213 shares of the investment management company’s stock worth $5,108,000 after acquiring an additional 20,416 shares in the last quarter. Legal & General Group Plc raised its stake in BlackRock TCP Capital by 8.0% during the second quarter. Legal & General Group Plc now owns 342,241 shares of the investment management company’s stock worth $4,290,000 after acquiring an additional 25,448 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in BlackRock TCP Capital by 8.9% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 324,237 shares of the investment management company’s stock worth $4,063,000 after acquiring an additional 26,583 shares in the last quarter.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on TCPC shares. StockNews.com started coverage on BlackRock TCP Capital in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Wells Fargo & Company increased their price objective on BlackRock TCP Capital from $11.50 to $12.00 and gave the stock an “equal weight” rating in a research note on Friday, November 4th.
BlackRock TCP Capital Stock Performance
BlackRock TCP Capital (NASDAQ:TCPC – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The investment management company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $48.21 million for the quarter, compared to analysts’ expectations of $44.73 million. BlackRock TCP Capital had a return on equity of 10.14% and a net margin of 40.91%. On average, equities research analysts predict that BlackRock TCP Capital Corp. will post 1.53 EPS for the current fiscal year.
BlackRock TCP Capital Dividend Announcement
The company also recently declared a None dividend, which was paid on Thursday, January 12th. Investors of record on Thursday, December 29th were issued a $0.05 dividend. The ex-dividend date was Wednesday, December 28th. BlackRock TCP Capital’s dividend payout ratio is 104.07%.
About BlackRock TCP Capital
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, small businesses, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals.
- Get a free copy of the StockNews.com research report on BlackRock TCP Capital (TCPC)
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