TCG BDC, Inc. (CGBD) Position Raised by Sumitomo Mitsui Asset Management Company LTD

Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of TCG BDC, Inc. (NASDAQ:CGBD) by 74.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,008 shares of the company’s stock after acquiring an additional 82,639 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in TCG BDC were worth $3,632,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CGBD. State of New Jersey Common Pension Fund D acquired a new stake in shares of TCG BDC during the second quarter valued at about $9,906,000. West Family Investments Inc. acquired a new stake in shares of TCG BDC during the second quarter valued at about $5,403,000. Ameriprise Financial Inc. acquired a new stake in shares of TCG BDC during the second quarter valued at about $6,258,000. Muzinich & Co. Inc. acquired a new stake in shares of TCG BDC during the second quarter valued at about $14,408,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of TCG BDC during the second quarter valued at about $571,000. Institutional investors and hedge funds own 7.63% of the company’s stock.

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A number of equities research analysts have weighed in on CGBD shares. J P Morgan Chase & Co began coverage on shares of TCG BDC in a research report on Monday, July 10th. They set an “overweight” rating and a $19.00 price target for the company. Wells Fargo & Company began coverage on shares of TCG BDC in a research note on Monday, July 10th. They issued an “outperform” rating and a $18.50 price objective for the company. Keefe, Bruyette & Woods began coverage on shares of TCG BDC in a research note on Monday, July 10th. They issued an “outperform” rating and a $20.00 price objective for the company. Bank of America Corporation began coverage on shares of TCG BDC in a research note on Monday, July 10th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Zacks Investment Research raised shares of TCG BDC from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective for the company in a research note on Monday, September 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $19.50.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Friday, September 29th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 7.98%. The ex-dividend date was Thursday, September 28th.

TCG BDC Company Profile

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.

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

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