Adams Wealth Management Purchases New Shares in TPG Inc. (NASDAQ:TPG)

Key Points

• Adams Wealth Management acquired a new stake in TPG Inc., purchasing 4,329 shares valued at approximately $204,000 during the 1st quarter.
• TPG announced an increase in its quarterly dividend to $0.59, representing a 3.7% yield and a positive change from its previous dividend of $0.41.
• Analysts maintain a "Moderate Buy" rating for TPG shares, with an average price target of $62.57, and multiple firms have recently upgraded their target prices for the stock.

Adams Wealth Management purchased a new stake 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 purchased 4,329 shares of the company's stock, valued at approximately $204,000.

Several other large investors have also added to or reduced their stakes in the stock. Treasurer of the State of North Carolina boosted its holdings in TPG by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 36,946 shares of the company's stock valued at $2,322,000 after acquiring an additional 230 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of TPG by 27.0% during the 1st quarter. Signaturefd LLC now owns 1,443 shares of the company's stock valued at $68,000 after buying an additional 307 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of TPG by 132.3% during the 1st quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $30,000 after buying an additional 369 shares in the last quarter. Comerica Bank boosted its holdings in shares of TPG by 71.4% during the 4th quarter. Comerica Bank now owns 1,080 shares of the company's stock valued at $68,000 after buying an additional 450 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of TPG by 7.0% during the 1st quarter. QRG Capital Management Inc. now owns 8,010 shares of the company's stock valued at $380,000 after buying an additional 521 shares in the last quarter. Institutional investors own 94.03% of the company's stock.

Insider Activity 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. Also, major shareholder Samantha Holloway sold 21,000,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total value of $977,970,000.00. The disclosure for this sale can be found here. Corporate insiders own 69.98% of the company's stock.

TPG Trading Down 1.1%

TPG stock opened at $63.48 on Friday. The firm has a 50 day moving average of $55.33 and a 200 day moving average of $52.32. The firm has a market capitalization of $23.64 billion, a price-to-earnings ratio of -334.11, a P/E/G ratio of 1.34 and a beta of 1.56. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $72.98. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45.

TPG (NASDAQ:TPG - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.24. The company 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 firm's quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. As a group, research analysts predict 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 3.7%. This is a positive change from TPG's previous quarterly dividend of $0.41. TPG's payout ratio is currently -863.16%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TPG. Citigroup boosted their target price on shares of TPG from $56.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, July 10th. 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 report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of TPG from $56.00 to $65.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Evercore ISI boosted their target price on shares of TPG from $52.00 to $60.00 and gave the company an "in-line" rating in a report on Friday, August 8th. Finally, The Goldman Sachs Group boosted their target price on shares of TPG from $61.00 to $69.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $62.57.

TPG Company 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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