Cresset Asset Management LLC Acquires Shares of 4,549 TPG Inc. $TPG

Key Points

• Cresset Asset Management LLC has invested approximately $216,000 in TPG Inc., acquiring 4,549 shares during the first quarter.
• TPG recently announced an increase in its quarterly dividend from $0.41 to $0.59 per share, resulting in an annualized yield of 3.8%.
• Analysts have generally rated TPG with a consensus of "Moderate Buy", with a target price of $62.57 for the stock.

Cresset Asset Management LLC bought a new position in TPG Inc. (NASDAQ:TPG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,549 shares of the company's stock, valued at approximately $216,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC raised its stake in shares of TPG by 27.0% during the 1st 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. Allworth Financial LP increased its position in TPG by 132.3% in the 1st quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $30,000 after buying an additional 369 shares during the period. Comerica Bank boosted its position in shares of TPG by 71.4% in the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock valued at $68,000 after acquiring an additional 450 shares during the period. QRG Capital Management Inc. grew its stake in shares of TPG by 7.0% in the first quarter. QRG Capital Management Inc. now owns 8,010 shares of the company's stock worth $380,000 after acquiring an additional 521 shares during the last quarter. Finally, Mariner LLC raised its stake in TPG by 16.3% during the 4th 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 last quarter. 94.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TPG has been the subject of a number of analyst reports. BNP Paribas Exane raised shares of TPG from a "neutral" rating to an "outperform" rating and set a $69.00 price objective for the company in a report on Wednesday, July 30th. UBS Group dropped their price objective on shares of TPG from $72.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wolfe Research initiated coverage on TPG in a research report on Friday, June 20th. They issued an "outperform" rating and a $60.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of TPG from $61.00 to $69.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Evercore ISI boosted 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.57.

TPG Stock Performance

NASDAQ TPG traded down $0.33 on Friday, hitting $60.35. 787,673 shares of the stock were exchanged, compared to its average volume of 1,986,229. The company has a market capitalization of $22.80 billion, a PE ratio of -317.63, a P/E/G ratio of 1.27 and a beta of 1.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.40 and a quick ratio of 0.40. The business's fifty day moving average is $57.44 and its 200 day moving average is $52.06. TPG Inc. has a 52 week low of $37.52 and a 52 week high of $72.98.

TPG (NASDAQ:TPG - Get Free Report) last released 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 net margin of 1.60% and a return on equity of 25.79%. The company had revenue of $495.12 million for the quarter, compared to analyst estimates of $470.57 million. During the same period in the previous year, the business earned $0.49 EPS. TPG's revenue for the quarter was up 8.9% compared to the same quarter last year. Research analysts anticipate that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.36 annualized dividend and a yield of 3.9%. This is a positive change from TPG's previous quarterly dividend of $0.41. TPG's payout ratio is -1,242.11%.

Insider Activity

In other news, Director Deborah M. Messemer sold 1,796 shares of the business'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 completion of the sale, the director owned 16,807 shares in the company, valued at $946,570.24. The trade was a 9.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 69.98% of the company's stock.

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.