Ameriprise Financial Inc. grew its stake in shares of TCG BDC, Inc. (NASDAQ:CGBD) by 3.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 360,000 shares of the company’s stock after buying an additional 12,500 shares during the period. Ameriprise Financial Inc. owned approximately 0.58% of TCG BDC worth $6,775,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of TCG BDC by 74.9% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 193,008 shares of the company’s stock valued at $3,632,000 after buying an additional 82,639 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in TCG BDC by 18.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 650,000 shares of the company’s stock worth $12,233,000 after purchasing an additional 100,000 shares in the last quarter. Susquehanna International Group LLP acquired a new position in TCG BDC in the second quarter worth about $200,000. Ares Management LLC acquired a new position in TCG BDC in the second quarter worth about $8,554,000. Finally, Goldman Sachs Group Inc. acquired a new position in TCG BDC in the second quarter worth about $571,000. 9.14% of the stock is owned by institutional investors and hedge funds.
TCG BDC, Inc. (CGBD) opened at $18.74 on Wednesday. TCG BDC, Inc. has a 52-week low of $16.97 and a 52-week high of $19.25. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.89 and a quick ratio of 0.89.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.37 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.48 annualized dividend and a yield of 7.90%.
Several research analysts recently issued reports on CGBD shares. Zacks Investment Research lowered shares of TCG BDC from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $20.00 price target on shares of TCG BDC in a research report on Friday, October 6th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $19.50.
In other news, Director John G. Nestor acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were purchased at an average cost of $18.55 per share, with a total value of $185,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by corporate insiders.
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About TCG BDC
TCG BDC, Inc, formerly Carlyle GMS Finance, Inc, is a managed and non-diversified closed-end investment company. The Company is focused on lending to middle market companies. The Company’s investment objective is to generate current income and capital appreciation primarily through debt investments in the United States and middle market companies.
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