JPMorgan Chase & Co. Sells 121,340 Shares of TPG Inc. $TPG

JPMorgan Chase & Co. cut its stake in TPG Inc. (NASDAQ:TPG) by 7.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,501,843 shares of the company’s stock after selling 121,340 shares during the quarter. JPMorgan Chase & Co.’s holdings in TPG were worth $86,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC raised its position in shares of TPG by 19.5% in the 3rd quarter. CWM LLC now owns 1,227 shares of the company’s stock worth $70,000 after acquiring an additional 200 shares in the last quarter. Osaic Holdings Inc. grew its stake in TPG by 12.1% in the second quarter. Osaic Holdings Inc. now owns 2,173 shares of the company’s stock worth $114,000 after purchasing an additional 234 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in TPG by 3.1% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,828 shares of the company’s stock worth $411,000 after purchasing an additional 238 shares in the last quarter. Lazard Asset Management LLC raised its holdings in TPG by 3.1% in the second quarter. Lazard Asset Management LLC now owns 7,828 shares of the company’s stock worth $410,000 after purchasing an additional 238 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its position in TPG by 2.3% during the third quarter. Apollon Wealth Management LLC now owns 15,244 shares of the company’s stock valued at $876,000 after buying an additional 337 shares during the period. Hedge funds and other institutional investors own 94.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada initiated coverage on shares of TPG in a research report on Monday. They issued an “outperform” rating and a $59.00 target price on the stock. Evercore set a $56.00 price objective on shares of TPG in a research note on Friday, February 6th. Wolfe Research reaffirmed an “outperform” rating and set a $80.00 target price on shares of TPG in a research note on Wednesday, January 7th. Morgan Stanley set a $67.00 target price on shares of TPG in a report on Tuesday, January 27th. Finally, UBS Group cut their price target on TPG from $83.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.67.

TPG Price Performance

Shares of NASDAQ TPG opened at $42.34 on Tuesday. TPG Inc. has a twelve month low of $37.52 and a twelve month high of $70.38. The firm has a market cap of $16.01 billion, a P/E ratio of 96.23, a PEG ratio of 0.66 and a beta of 1.50. The company has a 50 day moving average of $60.07 and a 200 day moving average of $59.48. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42.

TPG (NASDAQ:TPG) last issued its earnings results on Thursday, February 5th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.65 by $0.20. The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $548.40 million. TPG had a return on equity of 26.02% and a net margin of 3.95%.The company’s revenue was up 35.6% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. As a group, research analysts expect that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 19th will be given a $0.61 dividend. This is a positive change from TPG’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, February 19th. This represents a $2.44 dividend on an annualized basis and a yield of 5.8%. TPG’s payout ratio is presently 554.55%.

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.