Apollon Wealth Management LLC Buys New Stake in TPG Inc. (NASDAQ:TPG)

Apollon Wealth Management LLC acquired a new stake in TPG Inc. (NASDAQ:TPG - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 11,785 shares of the company's stock, valued at approximately $559,000.

A number of other hedge funds have also added to or reduced their stakes in TPG. Mirae Asset Global Investments Co. Ltd. increased its stake 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 worth $1,396,000 after purchasing an additional 6,267 shares in the last quarter. JPMorgan Chase & Co. increased its stake 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 worth $104,296,000 after purchasing an additional 1,596,254 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in TPG by 62.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company's stock worth $360,000 after buying an additional 2,913 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in TPG in the 4th quarter worth $615,000. Finally, Lighthouse Investment Partners LLC purchased a new stake in TPG in the 4th quarter worth $11,852,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TPG. TD Cowen cut their price target on TPG from $65.00 to $42.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. The Goldman Sachs Group cut their price target on TPG from $70.00 to $63.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Wells Fargo & Company increased their price objective on shares of TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Wolfe Research initiated coverage on shares of TPG in a report on Friday, June 20th. They set an "outperform" rating and a $60.00 price objective for the company. Finally, Evercore ISI increased their price objective on shares of TPG from $49.00 to $52.00 and gave the company an "in-line" rating in a report on Thursday, July 10th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.77.

TPG Trading Down 1.1%

TPG traded down $0.60 on Friday, hitting $56.09. The company had a trading volume of 1,964,999 shares, compared to its average volume of 1,373,965. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.42. The company has a market cap of $20.89 billion, a PE ratio of -169.97, a PEG ratio of 1.20 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 fifty day simple moving average is $51.38 and its 200 day simple moving average is $53.15.

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

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Monday, May 19th. TPG's dividend payout ratio is presently -496.97%.

Insider Activity at TPG

In related news, Director Deborah M. Messemer sold 1,796 shares of TPG stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total transaction of $101,150.72. Following the transaction, the director directly owned 16,807 shares of the company's stock, valued at $946,570.24. This trade represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Samantha Holloway sold 21,000,000 shares of TPG stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total transaction of $977,970,000.00. The disclosure for this sale can be found here. Insiders own 69.98% of the company's stock.

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.