TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its stake in shares of TriplePoint Venture Growth BDC Corp. (NYSE:TPVG) by 8.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,797 shares of the investment management company’s stock after selling 6,734 shares during the quarter. Advisors Asset Management Inc.’s holdings in TriplePoint Venture Growth BDC were worth $493,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of TriplePoint Venture Growth BDC during the second quarter worth approximately $35,000. EverSource Wealth Advisors LLC acquired a new position in TriplePoint Venture Growth BDC in the second quarter worth $62,000. Diversify Wealth Management LLC acquired a new position in TriplePoint Venture Growth BDC in the third quarter worth $82,000. Diversify Advisory Services LLC boosted its holdings in TriplePoint Venture Growth BDC by 31.2% in the third quarter. Diversify Advisory Services LLC now owns 14,191 shares of the investment management company’s stock worth $94,000 after purchasing an additional 3,378 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its holdings in TriplePoint Venture Growth BDC by 19.4% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 19,064 shares of the investment management company’s stock worth $153,000 after purchasing an additional 3,100 shares during the period. Institutional investors and hedge funds own 12.77% of the company’s stock.

TriplePoint Venture Growth BDC Stock Performance

TPVG stock opened at $8.19 on Thursday. The stock has a market capitalization of $328.01 million, a price-to-earnings ratio of 39.00 and a beta of 1.80. TriplePoint Venture Growth BDC Corp. has a 1 year low of $6.44 and a 1 year high of $11.58. The stock’s fifty day moving average is $7.15 and its two-hundred day moving average is $7.92.

TriplePoint Venture Growth BDC (NYSE:TPVG) last issued its quarterly earnings data on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The business had revenue of $26.52 million for the quarter, compared to analysts’ expectations of $25.65 million. During the same period in the previous year, the business earned $0.54 earnings per share. As a group, analysts predict that TriplePoint Venture Growth BDC Corp. will post 1.4 EPS for the current fiscal year.

TriplePoint Venture Growth BDC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 14.65%. The ex-dividend date of this dividend is Friday, December 13th. TriplePoint Venture Growth BDC’s dividend payout ratio is currently 571.46%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a report on Tuesday, November 19th. StockNews.com raised shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday, November 15th. LADENBURG THALM/SH SH downgraded shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $8.50 to $8.00 in a report on Friday, August 9th. Keefe, Bruyette & Woods raised shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and decreased their price objective for the stock from $8.00 to $7.50 in a report on Thursday, November 7th. Finally, Piper Sandler cut their target price on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, TriplePoint Venture Growth BDC currently has a consensus rating of “Hold” and a consensus price target of $7.85.

TriplePoint Venture Growth BDC Profile

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.