Concentric Capital Strategies LP Buys Shares of 37,368 TPG Inc. (NASDAQ:TPG)

Concentric Capital Strategies LP bought a new position in TPG Inc. (NASDAQ:TPG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 37,368 shares of the company's stock, valued at approximately $2,348,000.

Other institutional investors have also made changes to their positions in the company. Barclays PLC boosted its stake in TPG by 14,739.3% in the third quarter. Barclays PLC now owns 602,029 shares of the company's stock worth $34,652,000 after purchasing an additional 597,972 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of TPG by 38.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,449 shares of the company's stock valued at $3,652,000 after buying an additional 17,709 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in TPG during the 4th quarter worth approximately $33,000. Harbor Capital Advisors Inc. lifted its position in TPG by 7.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 25,935 shares of the company's stock valued at $1,630,000 after acquiring an additional 1,909 shares in the last quarter. Finally, Wedmont Private Capital acquired a new position in shares of TPG during the fourth quarter worth about $204,000. 94.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TPG has been the subject of a number of recent analyst reports. UBS Group cut their price objective on TPG from $72.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group decreased their price target on TPG from $70.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Evercore ISI upped their target price on TPG from $65.00 to $66.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 12th. Bank of America decreased their price target on shares of TPG from $72.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Finally, JMP Securities reissued a "market perform" rating on shares of TPG in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $60.08.

TPG Stock Up 1.6 %

NASDAQ:TPG traded up $0.77 during midday trading on Friday, reaching $49.53. 2,921,754 shares of the stock traded hands, compared to its average volume of 1,158,384. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $72.98. The business has a 50-day moving average of $46.70 and a two-hundred day moving average of $58.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.25 and a current ratio of 0.18. The stock has a market capitalization of $18.30 billion, a PE ratio of -112.57, a price-to-earnings-growth ratio of 0.80 and a beta of 1.58.

TPG (NASDAQ:TPG - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). TPG had a net margin of 0.67% and a return on equity of 24.66%. The business had revenue of $476.26 million for the quarter, compared to analyst estimates of $459.75 million. During the same quarter last year, the business earned $0.49 earnings per share. TPG's revenue was up 6.1% on a year-over-year basis. On average, equities analysts forecast that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $0.41 per share. The ex-dividend date is Monday, May 19th. This represents a $1.64 annualized dividend and a dividend yield of 3.31%. TPG's dividend payout ratio is presently -496.97%.

Insider Activity

In related news, General Counsel Bradford Berenson sold 2,509 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total value of $125,550.36. Following the completion of the transaction, the general counsel now directly owns 290,841 shares in the company, valued at approximately $14,553,683.64. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 69.98% of the company's stock.

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.