AXQ Capital LP Sells 85,456 Shares of TPG Inc. $TPG

Key Points

• AXQ Capital LP cut its TPG stake by 76.8% in the second quarter, selling 85,456 shares and retaining 25,883 shares valued at approximately $1.05 million.
• Other major institutions increased their positions, and institutional investors collectively own 94.03% of TPG.
• TPG reported quarterly EPS of $0.69, beating estimates by $0.10, while revenue rose 23.9% year over year to $628.19 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $63.33.

AXQ Capital LP decreased its position in TPG Inc. (NASDAQ:TPG - Free Report) by 76.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,883 shares of the company's stock after selling 85,456 shares during the period. AXQ Capital LP's holdings in TPG were worth $1,050,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Capital International Investors increased its holdings in TPG by 0.4% in the 4th quarter. Capital International Investors now owns 11,734,677 shares of the company's stock valued at $749,142,000 after buying an additional 52,213 shares during the period. Wellington Management Group LLP boosted its holdings in TPG by 38.1% during the second quarter. Wellington Management Group LLP now owns 11,019,487 shares of the company's stock valued at $446,840,000 after purchasing an additional 3,041,560 shares in the last quarter. Temasek Holdings Private Ltd grew its stake in shares of TPG by 14.1% in the 1st quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company's stock valued at $406,239,000 after purchasing an additional 1,236,526 shares during the period. Darlington Partners Capital Management LP acquired a new stake in TPG in the 2nd quarter valued at $258,581,000. Finally, Millennium Management LLC grew its position in TPG by 66.9% in the fourth quarter. Millennium Management LLC now owns 4,584,733 shares of the company's stock valued at $292,689,000 after acquiring an additional 1,837,799 shares during the period. Institutional investors own 94.03% of the company's stock.

TPG Price Performance

Shares of TPG stock opened at $52.65 on Friday. The stock has a 50-day moving average price of $47.05 and a 200 day moving average price of $43.88. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.63. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of 79.77, a PEG ratio of 0.88 and a beta of 1.47. TPG Inc. has a 12 month low of $36.95 and a 12 month high of $70.38.

TPG (NASDAQ:TPG - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. TPG had a net margin of 4.67% and a return on equity of 28.10%. The company had revenue of $628.19 million for the quarter, compared to the consensus estimate of $596.79 million. During the same period in the prior year, the company posted $0.69 EPS. The company's revenue was up 23.9% compared to the same quarter last year. Research analysts expect that TPG Inc. will post 2.88 EPS for the current year.

TPG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.59 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.36 annualized dividend and a yield of 4.5%. TPG's dividend payout ratio (DPR) is 357.58%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen upgraded TPG from a "sell" rating to a "hold" rating in a research note on Sunday, July 26th. TD Cowen upgraded shares of TPG from a "hold" rating to a "buy" rating and set a $64.00 target price on the stock in a research note on Thursday, August 6th. Royal Bank Of Canada upped their target price on shares of TPG from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Citigroup reaffirmed an "outperform" rating on shares of TPG in a research note on Thursday, July 9th. Finally, BMO Capital Markets dropped their price objective on shares of TPG from $52.00 to $50.00 and set an "outperform" rating for the company in a report on Monday, July 13th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, TPG has a consensus rating of "Moderate Buy" and a consensus target price of $63.33.

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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