TCG BDC Inc (CGBD) Stake Decreased by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its position in shares of TCG BDC Inc (NASDAQ:CGBD) by 15.7% during the second quarter, HoldingsChannel reports. The firm owned 319,871 shares of the company’s stock after selling 59,650 shares during the quarter. Glenmede Trust Co. NA’s holdings in TCG BDC were worth $5,444,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its holdings in shares of TCG BDC by 106.0% during the first quarter. Wells Fargo & Company MN now owns 90,532 shares of the company’s stock worth $1,620,000 after acquiring an additional 46,585 shares during the period. BlackRock Inc. acquired a new stake in shares of TCG BDC during the first quarter worth $6,292,000. Great West Life Assurance Co. Can acquired a new stake in shares of TCG BDC during the first quarter worth $295,000. Element Capital Management LLC acquired a new stake in shares of TCG BDC during the first quarter worth $527,000. Finally, Guggenheim Capital LLC raised its holdings in shares of TCG BDC by 148.3% during the first quarter. Guggenheim Capital LLC now owns 60,905 shares of the company’s stock worth $1,090,000 after acquiring an additional 36,375 shares during the period. 19.85% of the stock is currently owned by institutional investors.

Shares of NASDAQ:CGBD opened at $17.07 on Tuesday. TCG BDC Inc has a 12 month low of $16.73 and a 12 month high of $20.30. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.08 billion, a P/E ratio of 10.18, a P/E/G ratio of 5.22 and a beta of -0.54.

TCG BDC (NASDAQ:CGBD) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.05. TCG BDC had a net margin of 45.15% and a return on equity of 9.32%. The business had revenue of $52.45 million for the quarter, compared to analyst estimates of $46.60 million. research analysts predict that TCG BDC Inc will post 1.65 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 17th. Investors of record on Friday, September 28th will be issued a dividend of $0.37 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.67%. TCG BDC’s payout ratio is 85.06%.

A number of equities research analysts recently commented on CGBD shares. Wells Fargo & Co lowered shares of TCG BDC from an “outperform” rating to a “market perform” rating and set a $18.50 price objective on the stock. in a report on Wednesday, August 8th. Zacks Investment Research upgraded shares of TCG BDC from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Monday, July 9th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $19.00 price objective on shares of TCG BDC in a report on Thursday, August 9th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $18.88.

TCG BDC Company Profile

TCG BDC, Inc is a non-diversified closed-end investment company. The fund operates as a business development company. The company provides debt investments in the U.S. middle market companies. It also invests in first lien and second lien senior secured loans; middle market junior loans, such as corporate mezzanine loans, equity co-investments, syndicated first lien and second lien senior secured loans, high-yield bonds, structured finance obligations, and other opportunistic investments.

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Institutional Ownership by Quarter for TCG BDC (NASDAQ:CGBD)

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