Legal & General Group Plc Sells 44,398 Shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC)

Legal & General Group Plc trimmed its position in shares of BlackRock TCP Capital Corp. (NASDAQ:TCPC - Free Report) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 566,612 shares of the investment management company's stock after selling 44,398 shares during the period. Legal & General Group Plc owned approximately 0.66% of BlackRock TCP Capital worth $4,938,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of BlackRock TCP Capital by 623.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 558,815 shares of the investment management company's stock valued at $4,867,000 after purchasing an additional 481,581 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in BlackRock TCP Capital in the fourth quarter valued at about $161,000. TrueMark Investments LLC bought a new stake in BlackRock TCP Capital in the fourth quarter valued at about $5,268,000. Samalin Investment Counsel LLC lifted its stake in BlackRock TCP Capital by 68.0% during the fourth quarter. Samalin Investment Counsel LLC now owns 105,823 shares of the investment management company's stock worth $922,000 after purchasing an additional 42,827 shares during the period. Finally, Virtu Financial LLC acquired a new stake in BlackRock TCP Capital during the fourth quarter valued at approximately $329,000.

Insider Buying and Selling at BlackRock TCP Capital

In other BlackRock TCP Capital news, CEO Philip M. Tseng acquired 10,000 shares of the company's stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $7.74 per share, for a total transaction of $77,400.00. Following the completion of the purchase, the chief executive officer now directly owns 38,587 shares of the company's stock, valued at approximately $298,663.38. This represents a 34.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Patrick Wolfe bought 6,100 shares of BlackRock TCP Capital stock in a transaction dated Friday, March 14th. The shares were acquired at an average price of $8.12 per share, with a total value of $49,532.00. Following the completion of the purchase, the chief operating officer now directly owns 8,003 shares in the company, valued at $64,984.36. This trade represents a 320.55 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 18,500 shares of company stock worth $146,444. Insiders own 0.16% of the company's stock.

Analysts Set New Price Targets

TCPC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of BlackRock TCP Capital from $8.50 to $7.50 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. StockNews.com raised shares of BlackRock TCP Capital from a "sell" rating to a "hold" rating in a research note on Saturday, April 12th. Finally, Wells Fargo & Company reduced their target price on shares of BlackRock TCP Capital from $8.00 to $7.50 and set an "underweight" rating on the stock in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $8.33.

BlackRock TCP Capital Stock Up 0.3 %

Shares of BlackRock TCP Capital stock traded up $0.02 during trading on Thursday, reaching $6.98. The stock had a trading volume of 327,639 shares, compared to its average volume of 572,573. The stock has a fifty day moving average price of $7.83 and a two-hundred day moving average price of $8.46. BlackRock TCP Capital Corp. has a 52 week low of $6.27 and a 52 week high of $11.52. The company has a market capitalization of $593.84 million, a price-to-earnings ratio of -13.96 and a beta of 1.21. The company has a current ratio of 39.37, a quick ratio of 39.37 and a debt-to-equity ratio of 1.34.

BlackRock TCP Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 14.33%. The ex-dividend date of this dividend was Monday, March 17th. BlackRock TCP Capital's dividend payout ratio (DPR) is currently -133.33%.

BlackRock TCP Capital Profile

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.