CacheTech Inc. Makes New Investment in TPG Inc. $TPG

Key Points

• CacheTech Inc. recently invested approximately $204,000 in TPG Inc., acquiring 4,329 shares in the first quarter.
• Major shareholder Samantha Holloway sold 21 million shares in May, totaling nearly $978 million, while company insiders collectively own about 69.98% of the stock.
• TPG Inc. announced an increase in its quarterly dividend from $0.41 to $0.59 per share, reflecting a dividend yield of 3.7%.

CacheTech Inc. acquired a new position in TPG Inc. (NASDAQ:TPG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,329 shares of the company's stock, valued at approximately $204,000.

Several other hedge funds have also bought and sold shares of TPG. Wells Fargo & Company MN grew its holdings in TPG by 74.7% during the fourth quarter. Wells Fargo & Company MN now owns 85,219 shares of the company's stock valued at $5,355,000 after purchasing an additional 36,442 shares during the period. Legal & General Group Plc grew its holdings in TPG by 25.5% during the fourth quarter. Legal & General Group Plc now owns 75,034 shares of the company's stock valued at $4,715,000 after purchasing an additional 15,248 shares during the period. Raymond James Financial Inc. bought a new stake in TPG during the fourth quarter valued at about $615,000. Sterling Capital Management LLC grew its holdings in TPG by 48.2% during the fourth quarter. Sterling Capital Management LLC now owns 4,134 shares of the company's stock valued at $260,000 after purchasing an additional 1,345 shares during the period. Finally, Mariner LLC grew its holdings in TPG by 16.3% during the fourth quarter. Mariner LLC now owns 4,151 shares of the company's stock valued at $261,000 after purchasing an additional 582 shares during the period. Institutional investors own 94.03% of the company's stock.

TPG Price Performance

TPG stock traded down $1.04 during midday trading on Wednesday, reaching $59.61. 2,270,617 shares of the stock traded hands, compared to its average volume of 1,720,714. The stock's fifty day moving average is $55.79 and its 200-day moving average is $52.14. TPG Inc. has a 12 month low of $37.52 and a 12 month high of $72.98. The stock has a market cap of $22.52 billion, a P/E ratio of -313.74, a PEG ratio of 1.31 and a beta of 1.56. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.24. TPG had a return on equity of 25.79% and a net margin of 1.60%.The company had revenue of $495.12 million during the quarter, compared to analyst estimates of $470.57 million. During the same period in the prior year, the company earned $0.49 earnings per share. The firm's revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts anticipate that TPG Inc. will post 2.52 EPS for the current year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 4.0%. This is a boost from TPG's previous quarterly dividend of $0.41. The ex-dividend date is Monday, August 18th. TPG's dividend payout ratio (DPR) is currently -1,242.11%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Citigroup upped their price objective on TPG from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Evercore ISI increased their target price on TPG from $52.00 to $60.00 and gave the stock an "in-line" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. increased their target price on TPG from $56.00 to $65.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. BNP Paribas upgraded TPG to a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, Wells Fargo & Company increased their target price on TPG from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.57.

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.