Rockefeller Capital Management L.P. Increases Stake in Trinity Capital Inc. $TRIN

Rockefeller Capital Management L.P. raised its holdings in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 964,548 shares of the company’s stock after acquiring an additional 48,764 shares during the quarter. Rockefeller Capital Management L.P. owned approximately 1.16% of Trinity Capital worth $14,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TRIN. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Trinity Capital in the 4th quarter worth $25,000. Flagship Harbor Advisors LLC purchased a new stake in Trinity Capital in the fourth quarter worth about $27,000. JPMorgan Chase & Co. bought a new position in shares of Trinity Capital in the second quarter worth about $54,000. Allworth Financial LP raised its stake in shares of Trinity Capital by 54.5% in the fourth quarter. Allworth Financial LP now owns 6,040 shares of the company’s stock worth $88,000 after buying an additional 2,131 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Trinity Capital by 8,783.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,041 shares of the company’s stock valued at $94,000 after buying an additional 5,973 shares in the last quarter. Institutional investors own 24.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TRIN. Wall Street Zen upgraded Trinity Capital from a “sell” rating to a “hold” rating in a research note on Sunday, March 29th. Keefe, Bruyette & Woods raised their target price on shares of Trinity Capital from $15.00 to $16.00 and gave the stock a “market perform” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company lifted their price target on shares of Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.64.

Trinity Capital Stock Up 0.1%

NASDAQ:TRIN opened at $16.89 on Wednesday. The business’s 50-day simple moving average is $16.62 and its two-hundred day simple moving average is $15.79. Trinity Capital Inc. has a 52 week low of $13.76 and a 52 week high of $17.38. The stock has a market cap of $1.52 billion, a PE ratio of 8.94 and a beta of 0.62.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%.The firm had revenue of $51.37 million during the quarter, compared to analyst estimates of $85.87 million. Sell-side analysts anticipate that Trinity Capital Inc. will post 2.1 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 12.1%. Trinity Capital’s payout ratio is currently 107.94%.

About Trinity Capital

Trinity Capital Corporation (NASDAQ: TRIN) is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.