Alps Advisors Inc. Boosts Stock Position in TPG Inc. (NASDAQ:TPG)

Alps Advisors Inc. grew its position in TPG Inc. (NASDAQ:TPG - Free Report) by 75.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm 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.

Several other hedge funds also recently bought and sold shares of TPG. Mirae Asset Global Investments Co. Ltd. grew its position in shares of TPG by 27.3% in the 1st 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 during the period. JPMorgan Chase & Co. grew its position in shares of TPG by 2,515.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company's stock valued at $104,296,000 after acquiring an additional 1,596,254 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of TPG by 62.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company's stock valued at $360,000 after acquiring an additional 2,913 shares during the period. Raymond James Financial Inc. bought a new position in shares of TPG in the 4th quarter valued at about $615,000. Finally, Lighthouse Investment Partners LLC bought a new position in shares of TPG in the 4th quarter valued at about $11,852,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on TPG. Wolfe Research began coverage on shares of TPG in a report on Friday, June 20th. They set an "outperform" rating and a $60.00 target price for the company. Citigroup lifted their target price on shares of TPG from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Evercore ISI lifted their target price on shares of TPG from $49.00 to $52.00 and gave the stock an "in-line" rating in a report on Thursday, July 10th. UBS Group reduced their target price on shares of TPG from $72.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, Morgan Stanley reaffirmed an "equal weight" rating and set a $47.00 target price (down previously from $80.00) on shares of TPG in a report on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, TPG presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.77.

Insider Transactions at TPG

In other news, major shareholder Samantha Holloway sold 21,000,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total transaction of $977,970,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 76.48% of the company's stock.

TPG Price Performance

Shares of TPG stock traded up $2.15 during trading hours on Wednesday, hitting $56.36. 3,360,158 shares of the company's stock were exchanged, compared to its average volume of 1,363,544. The company has a market capitalization of $20.99 billion, a PE ratio of -170.79, a PEG ratio of 1.19 and a beta of 1.55. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $72.98. The business's 50 day simple moving average is $50.89 and its 200-day simple moving average is $53.29. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.42.

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

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend was Monday, May 19th. TPG's dividend payout ratio is currently -496.97%.

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.