Wellington Management Group LLP Has $446.84 Million Stake in TPG Inc. $TPG

Wellington Management Group LLP raised its position in shares of TPG Inc. (NASDAQ:TPG) by 38.1% in the second quarter, Holdings Channel reports. The fund owned 11,019,487 shares of the company’s stock after buying an additional 3,041,560 shares during the quarter. Wellington Management Group LLP’s holdings in TPG were worth $446,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Comerica Bank lifted its position in shares of TPG by 43.1% during the 1st quarter. Comerica Bank now owns 1,545 shares of the company’s stock worth $73,000 after purchasing an additional 465 shares during the last quarter. Royal Bank of Canada grew its holdings in TPG by 86.3% in the 1st quarter. Royal Bank of Canada now owns 7,901 shares of the company’s stock valued at $375,000 after buying an additional 3,659 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in TPG by 4,109.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock valued at $27,083,000 after buying an additional 557,438 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in TPG by 156.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company’s stock worth $22,941,000 after buying an additional 294,941 shares during the period. Finally, Cetera Investment Advisers bought a new position in TPG in the 2nd quarter worth approximately $216,000. 94.03% of the stock is owned by institutional investors and hedge funds.

TPG Stock Performance

TPG opened at $53.97 on Friday. The stock has a market cap of $20.74 billion, a PE ratio of 81.77, a P/E/G ratio of 0.90 and a beta of 1.44. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.63. TPG Inc. has a 1 year low of $36.95 and a 1 year high of $70.38. The stock’s 50 day simple moving average is $45.74 and its 200-day simple moving average is $43.82.

TPG (NASDAQ:TPG) last issued its earnings results on Tuesday, August 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.59 by $0.10. The firm had revenue of $628.19 million during the quarter, compared to analysts’ expectations of $596.79 million. TPG had a return on equity of 28.10% and a net margin of 4.67%.TPG’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same period last year, the business earned $0.69 earnings per share. Sell-side analysts forecast that TPG Inc. will post 2.88 EPS for the current year.

TPG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.59 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.4%. TPG’s dividend payout ratio is currently 357.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TPG shares. Keefe, Bruyette & Woods increased their price objective on TPG from $53.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Evercore set a $50.00 target price on shares of TPG in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $62.00 target price on shares of TPG in a research note on Wednesday, August 5th. Barclays increased their price target on shares of TPG from $58.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Citigroup restated an “outperform” rating on shares of TPG in a research report on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, TPG currently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

About TPG

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.