Charles Schwab Investment Management Inc. Sells 25,212 Shares of TPG Inc. $TPG

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in TPG Inc. by 3.4%, selling 25,212 shares and holding approximately 714,595 shares valued at $33.89 million as of the latest SEC filing.
• Major shareholder Samantha Holloway sold 21 million shares at an average price of $46.57, totaling nearly $978 million, significantly impacting TPG's stock ownership.
• TPG has announced a quarterly dividend increase to $0.59, representing an annual yield of 3.8%, up from its previous dividend of $0.41.

Charles Schwab Investment Management Inc. reduced its holdings in TPG Inc. (NASDAQ:TPG - Free Report) by 3.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 714,595 shares of the company's stock after selling 25,212 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.19% of TPG worth $33,893,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in TPG by 132.3% in the first quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $30,000 after purchasing an additional 369 shares in the last quarter. Versant Capital Management Inc increased its holdings in TPG by 12,263.6% in the first quarter. Versant Capital Management Inc now owns 1,360 shares of the company's stock worth $65,000 after purchasing an additional 1,349 shares in the last quarter. Fourth Dimension Wealth LLC bought a new stake in TPG in the fourth quarter worth approximately $67,000. Comerica Bank increased its holdings in TPG by 71.4% in the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock worth $68,000 after purchasing an additional 450 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in TPG by 27.0% in the first quarter. Signaturefd LLC now owns 1,443 shares of the company's stock worth $68,000 after purchasing an additional 307 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors.

TPG Stock Down 1.7%

Shares of NASDAQ:TPG traded down $1.04 during mid-day trading on Wednesday, hitting $59.61. 2,270,617 shares of the company traded hands, compared to its average volume of 1,997,032. The stock has a market cap of $22.52 billion, a P/E ratio of -313.74, a P/E/G ratio of 1.27 and a beta of 1.56. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $72.98. The stock has a 50-day moving average price of $55.95 and a two-hundred day moving average price of $52.19.

TPG (NASDAQ:TPG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.24. TPG had a return on equity of 25.79% and a net margin of 1.60%.The business had revenue of $495.12 million for the quarter, compared to analysts' expectations of $470.57 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The business's revenue was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a $0.59 dividend. The ex-dividend date is Monday, August 18th. This is a boost from TPG's previous quarterly dividend of $0.41. This represents a $2.36 annualized dividend and a dividend yield of 4.0%. TPG's dividend payout ratio is presently -1,242.11%.

Insider Buying and Selling at TPG

In related news, major shareholder Samantha Holloway sold 21,000,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was 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 stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total transaction of $101,150.72. Following the transaction, the director owned 16,807 shares of the company's stock, valued at $946,570.24. This represents a 9.65% decrease in their position. The disclosure for this sale can be found here. Insiders own 69.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group lowered their target price on TPG from $72.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, May 1st. The Goldman Sachs Group lifted their target price on TPG from $61.00 to $69.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on TPG from $56.00 to $65.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Wolfe Research initiated coverage on TPG in a report on Friday, June 20th. They set an "outperform" rating and a $60.00 price objective for the company. Finally, Citigroup boosted their price objective on TPG from $56.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.57.

TPG Company 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.