Townsquare Capital LLC Buys Shares of 8,212 TPG Inc. $TPG

Key Points

• Townsquare Capital LLC purchased 8,212 shares of TPG Inc. valued at approximately $390,000, marking a new investment in the company.
• TPG is experiencing strong institutional interest, as 94.03% of its stock is owned by hedge funds and other institutional investors, with multiple funds increasing their holdings significantly.
• The company recently announced an increase in its quarterly dividend from $0.41 to $0.59, representing an annualized yield of 3.7%.

Townsquare Capital LLC acquired a new position in TPG Inc. (NASDAQ:TPG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 8,212 shares of the company's stock, valued at approximately $390,000.

Several other large investors have also recently modified their holdings of TPG. Wells Fargo & Company MN increased its holdings in shares of TPG by 74.7% in the fourth quarter. Wells Fargo & Company MN now owns 85,219 shares of the company's stock worth $5,355,000 after buying an additional 36,442 shares during the period. Legal & General Group Plc increased its holdings in shares of TPG by 25.5% in the fourth quarter. Legal & General Group Plc now owns 75,034 shares of the company's stock worth $4,715,000 after buying an additional 15,248 shares during the period. Raymond James Financial Inc. purchased a new position in shares of TPG in the fourth quarter worth about $615,000. Sterling Capital Management LLC increased its holdings in shares of TPG by 48.2% in the fourth quarter. Sterling Capital Management LLC now owns 4,134 shares of the company's stock worth $260,000 after buying an additional 1,345 shares during the period. Finally, Mariner LLC increased its holdings in shares of TPG by 16.3% in the fourth quarter. Mariner LLC now owns 4,151 shares of the company's stock worth $261,000 after buying an additional 582 shares during the period. Hedge funds and other institutional investors own 94.03% of the company's stock.

TPG Stock Up 3.9%

Shares of TPG stock traded up $2.3660 during midday trading on Friday, reaching $62.4560. 327,312 shares of the stock were exchanged, compared to its average volume of 1,706,931. TPG Inc. has a 1 year low of $37.52 and a 1 year high of $72.98. The company's 50 day moving average is $56.12 and its two-hundred day moving average is $52.15. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45. The firm has a market cap of $23.60 billion, a PE ratio of -329.25, a price-to-earnings-growth ratio of 1.25 and a beta of 1.56.

TPG (NASDAQ:TPG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.24. The firm had revenue of $495.12 million for the quarter, compared to analysts' expectations of $470.57 million. TPG had a return on equity of 25.79% and a net margin of 1.60%.The business's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. On average, equities research analysts predict that TPG Inc. will post 2.52 EPS for the current year.

TPG Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, August 18th. This is an increase from TPG's previous quarterly dividend of $0.41. TPG's dividend payout ratio (DPR) is currently -1,242.11%.

Insider Buying and Selling at TPG

In related news, Director Deborah M. Messemer sold 1,796 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total value of $101,150.72. Following the sale, the director owned 16,807 shares in the company, valued at $946,570.24. This represents a 9.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 69.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TPG has been the topic of several analyst reports. Evercore ISI lifted their price objective on TPG from $52.00 to $60.00 and gave the stock an "in-line" rating in a report on Friday, August 8th. Wolfe Research started coverage on TPG in a report on Friday, June 20th. They issued an "outperform" rating and a $60.00 price objective on the stock. UBS Group cut their target price on TPG from $72.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. The Goldman Sachs Group raised their target price on TPG from $61.00 to $69.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, BNP Paribas Exane raised 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. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.57.

About TPG

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.