T. Rowe Price Investment Management Inc. increased its position in TPG Inc. (NASDAQ:TPG – Free Report) by 28.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,201,727 shares of the company’s stock after purchasing an additional 481,418 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 0.60% of TPG worth $104,428,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Tradition Wealth Management LLC boosted its stake in TPG by 18.8% in the 1st quarter. Tradition Wealth Management LLC now owns 4,995 shares of the company’s stock worth $237,000 after purchasing an additional 790 shares in the last quarter. Hsbc Holdings PLC bought a new position in TPG in the 1st quarter worth about $209,000. Wellington Management Group LLP boosted its stake in TPG by 69.1% in the 1st quarter. Wellington Management Group LLP now owns 10,693,179 shares of the company’s stock worth $507,177,000 after purchasing an additional 4,369,618 shares in the last quarter. CacheTech Inc. bought a new position in TPG during the 1st quarter valued at about $204,000. Finally, Partners Group Holding AG lifted its stake in TPG by 53.2% during the 1st quarter. Partners Group Holding AG now owns 528,824 shares of the company’s stock valued at $25,082,000 after acquiring an additional 183,570 shares during the period. Institutional investors own 94.03% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on TPG. Citigroup upped their target price on shares of TPG from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, July 10th. Evercore ISI upped their target price on shares of TPG from $52.00 to $60.00 and gave the company an “in-line” rating in a research note on Friday, August 8th. JPMorgan Chase & Co. upped their target price on shares of TPG from $56.00 to $65.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. BNP Paribas Exane upgraded shares of TPG from a “neutral” rating to an “outperform” rating and set a $69.00 target price on the stock in a research note on Wednesday, July 30th. Finally, Wolfe Research began coverage on shares of TPG in a research note on Friday, June 20th. They set an “outperform” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.57.
Insider Transactions at TPG
In related news, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total value of $101,150.72. Following the completion of the sale, the director directly owned 16,807 shares of the company’s stock, valued at approximately $946,570.24. This represents a 9.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 69.98% of the company’s stock.
TPG Price Performance
NASDAQ TPG opened at $60.09 on Friday. TPG Inc. has a 52 week low of $37.52 and a 52 week high of $72.98. The firm has a market capitalization of $22.71 billion, a P/E ratio of -316.26, a PEG ratio of 1.25 and a beta of 1.56. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $56.12 and a 200-day moving average price of $52.15.
TPG (NASDAQ:TPG – Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.45 by $0.24. The firm had revenue of $495.12 million during the quarter, compared to analyst estimates of $470.57 million. TPG had a net margin of 1.60% and a return on equity of 25.79%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. Equities research analysts anticipate that TPG Inc. will post 2.52 earnings per share for the current year.
TPG Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.36 annualized dividend and a yield of 3.9%. This is a positive change from TPG’s previous quarterly dividend of $0.41. TPG’s payout ratio is currently -1,242.11%.
TPG Profile
TPG Inc operates as an alternative asset manager in the United States and internationally. The company offers investment management services to TPG Funds, limited partners, and other vehicles. It also offers monitoring services to portfolio companies; advisory, debt and equity arrangement, and underwriting and placement services; and capital structuring and other advisory services to portfolio companies.
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