State of New Jersey Common Pension Fund D Buys Shares of 550,000 Tcg Bdc Inc (CGBD)
State of New Jersey Common Pension Fund D bought a new stake in Tcg Bdc Inc (NASDAQ:CGBD) during the second quarter, Holdings Channel reports. The institutional investor bought 550,000 shares of the company’s stock, valued at approximately $9,906,000.
Separately, Sumitomo Mitsui Asset Management Company LTD bought a new position in shares of Tcg Bdc during the second quarter valued at approximately $1,987,000. 1.59% of the stock is currently owned by institutional investors.
Shares of Tcg Bdc Inc (NASDAQ:CGBD) opened at 18.35 on Thursday. Tcg Bdc Inc has a 12 month low of $17.61 and a 12 month high of $18.65. The stock’s 50 day moving average price is $18.52 and its 200-day moving average price is $18.49.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Friday, June 30th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date was Wednesday, June 28th.
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Several brokerages have commented on CGBD. Wells Fargo & Company began coverage on Tcg Bdc in a research note on Monday, July 10th. They issued an “outperform” rating and a $18.50 target price for the company. Keefe, Bruyette & Woods began coverage on Tcg Bdc in a research note on Monday, July 10th. They issued an “outperform” rating and a $20.00 target price for the company. Bank of America Corporation began coverage on Tcg Bdc in a research note on Monday, July 10th. They issued a “buy” rating and a $19.00 target price for the company. Finally, J P Morgan Chase & Co began coverage on Tcg Bdc in a research note on Monday, July 10th. They issued an “overweight” rating and a $19.00 target price for the company.
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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