Alliancebernstein L.P. Sells 62,312 Shares of TPG Inc. $TPG

Alliancebernstein L.P. trimmed its position in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,114,378 shares of the company's stock after selling 62,312 shares during the quarter. Alliancebernstein L.P. owned 0.30% of TPG worth $52,855,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp bought a new position in TPG during the fourth quarter worth about $206,000. Northern Trust Corp lifted its holdings in TPG by 4.2% during the fourth quarter. Northern Trust Corp now owns 534,487 shares of the company's stock worth $33,587,000 after acquiring an additional 21,737 shares in the last quarter. Comerica Bank lifted its holdings in TPG by 71.4% during the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock worth $68,000 after acquiring an additional 450 shares in the last quarter. Ameriprise Financial Inc. bought a new position in shares of TPG during the 4th quarter valued at about $236,000. Finally, Ensign Peak Advisors Inc bought a new position in shares of TPG during the 4th quarter valued at about $287,000. 94.03% of the stock is owned by institutional investors.

TPG Stock Down 1.5%

TPG traded down $0.93 on Friday, hitting $61.16. 185,315 shares of the company were exchanged, compared to its average volume of 1,691,678. TPG Inc. has a 12 month low of $37.52 and a 12 month high of $72.98. The company has a market cap of $23.11 billion, a PE ratio of -321.78, a PEG ratio of 1.26 and a beta of 1.56. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.40. The stock's fifty day moving average is $58.66 and its 200-day moving average is $52.10.

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. TPG had a return on equity of 25.79% and a net margin of 1.60%.The business had revenue of $495.12 million for the quarter, compared to analyst estimates of $470.57 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. TPG's revenue was up 8.9% on a year-over-year basis. Equities research analysts predict that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 3.9%. This is an increase from TPG's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, August 18th. TPG's payout ratio is currently -1,242.11%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on TPG from $56.00 to $65.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Wolfe Research started coverage on shares of TPG in a research note on Friday, June 20th. They issued an "outperform" rating and a $60.00 price target on the stock. Citigroup lifted their price target on shares of TPG from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Zacks Research raised shares of TPG from a "hold" rating to a "strong-buy" rating in a research report on Monday. Finally, The Goldman Sachs Group boosted their price objective on shares of TPG from $61.00 to $69.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.57.

Insider Transactions at TPG

In other news, Director Deborah M. Messemer sold 1,796 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total value of $101,150.72. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 69.98% of the company's stock.

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.