State Street Corp Has $861,000 Position in Trinity Capital Inc. (NASDAQ:TRIN)

State Street Corp boosted its stake in shares of Trinity Capital Inc. (NASDAQ:TRIN) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,170 shares of the company’s stock after acquiring an additional 1,936 shares during the period. State Street Corp’s holdings in Trinity Capital were worth $861,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in shares of Trinity Capital in the second quarter worth $35,000. Quarry LP grew its stake in Trinity Capital by 1,053.0% during the third quarter. Quarry LP now owns 3,701 shares of the company’s stock worth $50,000 after buying an additional 3,380 shares in the last quarter. Blue Trust Inc. increased its holdings in Trinity Capital by 522.1% in the 3rd quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock valued at $109,000 after buying an additional 6,474 shares during the period. MQS Management LLC acquired a new position in shares of Trinity Capital in the 2nd quarter valued at approximately $152,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Trinity Capital by 9.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company’s stock worth $152,000 after acquiring an additional 918 shares during the period. 24.62% of the stock is owned by institutional investors and hedge funds.

Trinity Capital Stock Performance

NASDAQ:TRIN opened at $14.61 on Friday. Trinity Capital Inc. has a twelve month low of $13.05 and a twelve month high of $15.26. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. The stock’s 50-day simple moving average is $14.25 and its 200 day simple moving average is $14.17. The firm has a market capitalization of $860.62 million, a PE ratio of 8.54 and a beta of 0.56.

Trinity Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.51 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 13.96%. Trinity Capital’s payout ratio is currently 119.30%.

Insider Activity at Trinity Capital

In other news, Director Ronald E. Estes purchased 2,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average cost of $13.59 per share, with a total value of $27,180.00. Following the completion of the purchase, the director now owns 25,836 shares of the company’s stock, valued at $351,111.24. This trade represents a 8.39 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kyle Steven Brown acquired 7,562 shares of the stock in a transaction dated Friday, November 1st. The stock was purchased at an average cost of $13.39 per share, with a total value of $101,255.18. Following the purchase, the chief executive officer now directly owns 964,832 shares of the company’s stock, valued at $12,919,100.48. This trade represents a 0.79 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 29,702 shares of company stock valued at $392,696. 6.38% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company reissued an “underweight” rating and issued a $13.00 price objective on shares of Trinity Capital in a research note on Monday, December 2nd.

Trinity Capital Company Profile

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.