Alps Advisors Inc. Increases Position in TPG Inc. (NASDAQ:TPG)

Alps Advisors Inc. raised its position in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 75.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,280 shares of the company's stock after purchasing an additional 13,490 shares during the period. Alps Advisors Inc.'s holdings in TPG were worth $1,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of TPG by 132.3% during the first quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $30,000 after purchasing an additional 369 shares during the period. Richard Bernstein Advisors LLC purchased a new stake in TPG in the 1st quarter worth approximately $2,915,000. Teacher Retirement System of Texas bought a new stake in shares of TPG in the 1st quarter worth approximately $540,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of TPG by 62.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company's stock valued at $360,000 after buying an additional 2,913 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of TPG by 27.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,250 shares of the company's stock valued at $1,396,000 after acquiring an additional 6,267 shares in the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TPG

In related news, major shareholder Samantha Holloway sold 21,000,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total value of $977,970,000.00. 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.

TPG Price Performance

Shares of NASDAQ:TPG opened at $55.64 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.18 and a quick ratio of 0.18. The company has a market capitalization of $20.56 billion, a PE ratio of -168.61, a PEG ratio of 1.19 and a beta of 1.55. TPG Inc. has a 1-year low of $37.52 and a 1-year high of $72.98. The business has a fifty day moving average price of $50.55 and a 200-day moving average price of $53.42.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). TPG had a net margin of 0.90% and a return on equity of 24.47%. The business had revenue of $476.26 million for the quarter, compared to the consensus estimate of $459.75 million. During the same period in the previous year, the company earned $0.49 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts expect that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Monday, May 19th. TPG's payout ratio is currently -496.97%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TPG. Wells Fargo & Company raised their price target on TPG from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday. Evercore ISI lifted their target price on shares of TPG from $49.00 to $52.00 and gave the company an "in-line" rating in a research note on Thursday. Citigroup boosted their price target on shares of TPG from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday. The Goldman Sachs Group lowered their price objective on shares of TPG from $70.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. Finally, Morgan Stanley reissued an "equal weight" rating and issued a $47.00 target price (down previously from $80.00) on shares of TPG in a research report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $59.77.

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.

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