Ameriprise Financial Inc. raised its holdings in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 38.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 323,686 shares of the company's stock after purchasing an additional 90,580 shares during the period. Ameriprise Financial Inc. owned 0.55% of Trinity Capital worth $4,684,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Aquatic Capital Management LLC bought a new position in Trinity Capital in the fourth quarter worth about $124,000. Blue Trust Inc. grew its holdings in Trinity Capital by 27.2% in the fourth quarter. Blue Trust Inc. now owns 9,814 shares of the company's stock worth $133,000 after purchasing an additional 2,100 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Trinity Capital during the fourth quarter valued at approximately $152,000. Colonial River Investments LLC purchased a new position in shares of Trinity Capital during the fourth quarter valued at approximately $158,000. Finally, Axxcess Wealth Management LLC purchased a new position in shares of Trinity Capital during the fourth quarter valued at approximately $158,000. Institutional investors own 24.62% of the company's stock.
Trinity Capital Stock Performance
Shares of TRIN stock traded down $0.03 during trading hours on Friday, reaching $14.58. The company had a trading volume of 44,470 shares, compared to its average volume of 533,071. The business has a fifty day moving average price of $14.57 and a 200-day moving average price of $14.90. The firm has a market cap of $942.29 million, a PE ratio of 8.52 and a beta of 0.57. Trinity Capital Inc. has a one year low of $12.50 and a one year high of $16.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05.
Trinity Capital (NASDAQ:TRIN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.01). Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. The company had revenue of $65.39 million for the quarter, compared to analysts' expectations of $67.67 million. Sell-side analysts predict that Trinity Capital Inc. will post 2.06 earnings per share for the current fiscal year.
Trinity Capital Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 14.00%. The ex-dividend date of this dividend was Monday, March 31st. Trinity Capital's dividend payout ratio is currently 93.15%.
Insider Transactions at Trinity Capital
In related news, Director Richard P. Hamada sold 3,335 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $14.90, for a total transaction of $49,691.50. Following the completion of the transaction, the director now directly owns 93,735 shares of the company's stock, valued at approximately $1,396,651.50. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kyle Steven Brown acquired 3,513 shares of the company's stock in a transaction on Friday, May 9th. The stock was acquired at an average cost of $14.22 per share, with a total value of $49,954.86. Following the completion of the purchase, the chief executive officer now directly owns 55,332 shares in the company, valued at approximately $786,821.04. This represents a 6.78% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 5.31% of the company's stock.
Wall Street Analyst Weigh In
TRIN has been the subject of a number of recent research reports. UBS Group lowered their price objective on Trinity Capital from $18.00 to $16.50 and set a "buy" rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company dropped their target price on shares of Trinity Capital from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods reduced their price target on shares of Trinity Capital from $16.00 to $15.00 and set a "market perform" rating for the company in a research report on Thursday, May 8th. Finally, B. Riley began coverage on Trinity Capital in a research report on Tuesday, May 13th. They issued a "buy" rating and a $16.00 price objective on the stock.
Read Our Latest Analysis on TRIN
Trinity Capital Profile
(
Free Report)
Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.
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