Arrowstreet Capital Limited Partnership Invests $9.32 Million in TPG Inc. $TPG

Key Points

• Arrowstreet Capital acquired 230,179 shares of TPG during the first quarter, valued at approximately $9.32 million and representing about 0.06% of the company. Institutional investors collectively own 94.03% of TPG.
• Analysts maintain a generally positive view, with 11 Buy ratings, four Holds and one Sell rating. TPG has a “Moderate Buy” consensus rating and an average price target of $60.43.
• TPG’s latest quarterly results exceeded expectations, with adjusted earnings of $0.70 per share versus the $0.61 consensus estimate, while revenue rose 14.1% year over year to $557.18 million.

Arrowstreet Capital Limited Partnership acquired a new position in TPG Inc. (NASDAQ:TPG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 230,179 shares of the company's stock, valued at approximately $9,325,000. Arrowstreet Capital Limited Partnership owned about 0.06% of TPG as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TPG. Comerica Bank raised its position in TPG by 43.1% during the 1st quarter. Comerica Bank now owns 1,545 shares of the company's stock worth $73,000 after buying an additional 465 shares during the last quarter. Royal Bank of Canada grew its position in shares of TPG by 86.3% in the first quarter. Royal Bank of Canada now owns 7,901 shares of the company's stock valued at $375,000 after purchasing an additional 3,659 shares during the period. Goldman Sachs Group Inc. grew its position in shares of TPG by 4,109.1% in the first quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company's stock valued at $27,083,000 after purchasing an additional 557,438 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of TPG by 156.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company's stock worth $22,941,000 after purchasing an additional 294,941 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new stake in shares of TPG during the second quarter worth about $216,000. Institutional investors own 94.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TPG. Evercore set a $47.00 price target on shares of TPG in a research note on Tuesday, April 21st. BMO Capital Markets cut their price objective on TPG from $52.00 to $50.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. TD Cowen reduced their target price on TPG from $48.00 to $45.00 and set a "hold" rating for the company in a report on Monday, May 18th. Keefe, Bruyette & Woods upgraded TPG to a "moderate buy" rating in a research report on Monday, July 20th. Finally, Deutsche Bank Aktiengesellschaft set a $55.00 price target on TPG in a research note on Monday, May 4th. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, TPG has an average rating of "Moderate Buy" and an average target price of $60.43.

TPG Stock Up 2.2%

Shares of NASDAQ TPG opened at $43.66 on Friday. TPG Inc. has a 12-month low of $36.95 and a 12-month high of $70.38. The stock has a market cap of $16.78 billion, a PE ratio of 198.46, a P/E/G ratio of 0.81 and a beta of 1.45. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average of $42.11 and a 200 day moving average of $45.20.

TPG (NASDAQ:TPG - Get Free Report) last released its earnings results on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.09. The business had revenue of $557.18 million for the quarter, compared to analyst estimates of $608.07 million. TPG had a net margin of 3.81% and a return on equity of 28.13%. The business's revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $0.48 EPS. As a group, sell-side analysts predict that TPG Inc. will post 2.83 EPS for the current fiscal year.

TPG Profile

TPG Inc NASDAQ: TPG is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.

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