CenterBook Partners LP Makes New $615,000 Investment in TPG Inc. (NASDAQ:TPG)

CenterBook Partners LP acquired a new stake in TPG Inc. (NASDAQ:TPG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,968 shares of the company's stock, valued at approximately $615,000.

Other large investors have also made changes to their positions in the company. Capital World Investors lifted its stake in shares of TPG by 484.6% in the 4th quarter. Capital World Investors now owns 3,065,321 shares of the company's stock valued at $192,625,000 after purchasing an additional 2,541,013 shares during the period. Vulcan Value Partners LLC acquired a new position in TPG during the first quarter worth $86,332,000. Norges Bank acquired a new position in TPG during the fourth quarter worth $100,675,000. JPMorgan Chase & Co. raised its position in TPG by 2,515.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company's stock worth $104,296,000 after acquiring an additional 1,596,254 shares during the period. Finally, Vanguard Group Inc. raised its position in TPG by 12.5% during the first quarter. Vanguard Group Inc. now owns 9,303,272 shares of the company's stock worth $441,254,000 after acquiring an additional 1,037,225 shares during the period. 94.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TPG shares. UBS Group reduced their price objective on shares of TPG from $72.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company increased their target price on shares of TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Wolfe Research assumed coverage on shares of TPG in a research report on Friday, June 20th. They issued an "outperform" rating and a $60.00 target price for the company. Citigroup increased their target price on shares of TPG from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group reduced their target price on shares of TPG from $70.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.77.

Insider Buying and Selling

In other TPG news, major shareholder Samantha Holloway sold 21,000,000 shares of the business's stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Deborah M. Messemer sold 1,796 shares of the business's stock in a transaction 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 completion of the transaction, 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 disclosure for this sale can be found here. Company insiders own 69.98% of the company's stock.

TPG Stock Down 1.1%

NASDAQ:TPG traded down $0.60 during mid-day trading on Friday, hitting $56.09. The stock had a trading volume of 1,964,999 shares, compared to its average volume of 1,373,965. The stock has a 50-day simple moving average of $51.38 and a two-hundred day simple moving average of $53.15. The company has a market capitalization 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 twelve month low of $37.52 and a twelve month high of $72.98. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.42.

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

TPG Cuts Dividend

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

TPG 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.