CenterBook Partners LP Buys New Stake in TPG Inc. $TPG

Key Points

• CenterBook Partners initiated a position in TPG, buying 63,702 shares worth approximately $2.81 million in the third quarter. Institutional investors own about 94% of the stock.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $61; 11 analysts rate the shares Buy and four rate them Hold.
• TPG beat quarterly EPS estimates, reporting $0.65 versus $0.63, while revenue rose 25.3% year over year. The company cut its quarterly dividend from $0.59 to $0.55 per share.

CenterBook Partners LP bought a new position in shares of TPG Inc. (NASDAQ:TPG - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 63,702 shares of the company's stock, valued at approximately $2,811,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. CX Institutional grew its stake in shares of TPG by 481.4% in the second quarter. CX Institutional now owns 657 shares of the company's stock worth $27,000 after purchasing an additional 544 shares during the last quarter. Provenance Wealth Advisors LLC bought a new position in TPG during the 3rd quarter worth $36,000. Mather Group LLC. bought a new position in TPG during the 3rd quarter worth $45,000. Heritage Family Offices LLP bought a new position in TPG during the 3rd quarter worth $58,000. Finally, Sunbelt Securities Inc. raised its position in TPG by 2,986.6% during the 1st quarter. Sunbelt Securities Inc. now owns 2,068 shares of the company's stock worth $84,000 after purchasing an additional 2,001 shares during the last quarter. 94.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Weiss Ratings raised TPG from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday. Barclays increased their price target on TPG from $60.00 to $61.00 and gave the company an "overweight" rating in a research note on Friday, October 30th. Evercore set a $52.00 price objective on TPG in a research report on Friday, October 30th. UBS Group lifted their price objective on TPG from $59.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley cut their price objective on TPG from $60.00 to $54.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 21st. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, TPG currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.00.

TPG Trading Down 0.5%

TPG opened at $46.50 on Friday. TPG Inc. has a twelve month low of $36.95 and a twelve month high of $70.38. The company has a fifty day moving average of $46.50 and a 200-day moving average of $45.44. The stock has a market cap of $17.87 billion, a PE ratio of 53.45, a price-to-earnings-growth ratio of 0.83 and a beta of 1.48. The company has a quick ratio of 0.31, a current ratio of 0.28 and a debt-to-equity ratio of 0.57.

TPG (NASDAQ:TPG - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $624.66 million. TPG had a net margin of 5.32% and a return on equity of 29.05%. TPG's revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, sell-side analysts predict that TPG Inc. will post 2.77 EPS for the current year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 9th will be given a $0.55 dividend. This is a drop from TPG's previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, November 9th. This represents a $2.20 annualized dividend and a dividend yield of 4.7%. TPG's dividend payout ratio is 271.26%.

TPG Profile

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