Engineers Gate Manager LP Raises Stake in TPG Inc. $TPG

Key Points

• Engineers Gate Manager LP increased its TPG stake by 147.4% in the second quarter, owning 342,327 shares worth approximately $13.9 million. Institutional investors collectively own 94.03% of TPG.
• TPG reported quarterly revenue of $628.2 million and earnings of $0.69 per share, exceeding analyst expectations; revenue rose 23.9% year over year. The company also pays a $0.59 quarterly dividend, representing a 5.0% annualized yield.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $63.33 versus the stock’s recent price of $46.93, despite shares being down 4.0%.

Engineers Gate Manager LP boosted its stake in TPG Inc. (NASDAQ:TPG - Free Report) by 147.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 342,327 shares of the company's stock after purchasing an additional 203,956 shares during the quarter. Engineers Gate Manager LP owned approximately 0.09% of TPG worth $13,881,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. NewEdge Advisors LLC lifted its holdings in shares of TPG by 189.0% in the second quarter. NewEdge Advisors LLC now owns 15,031 shares of the company's stock worth $610,000 after buying an additional 9,830 shares in the last quarter. Vulcan Value Partners LLC grew its stake in TPG by 18.9% during the second quarter. Vulcan Value Partners LLC now owns 2,361,862 shares of the company's stock valued at $95,774,000 after acquiring an additional 375,836 shares in the last quarter. Nykredit A S bought a new stake in TPG during the 2nd quarter worth approximately $92,000. Corient Private Wealth LP increased its holdings in TPG by 232.1% during the 2nd quarter. Corient Private Wealth LP now owns 67,268 shares of the company's stock worth $2,728,000 after acquiring an additional 47,013 shares during the period. Finally, Caz Investments LP purchased a new stake in TPG in the 2nd quarter worth approximately $26,358,000. 94.03% of the stock is currently owned by institutional investors.

TPG Stock Down 4.0%

Shares of TPG opened at $46.93 on Friday. TPG Inc. has a 1 year low of $36.95 and a 1 year high of $70.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.31 and a quick ratio of 0.31. The stock has a 50 day simple moving average of $47.81 and a two-hundred day simple moving average of $43.95. The firm has a market cap of $18.04 billion, a P/E ratio of 71.11, a P/E/G ratio of 0.81 and a beta of 1.47.

TPG (NASDAQ:TPG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.59 by $0.10. TPG had a net margin of 4.67% and a return on equity of 28.10%. The firm had revenue of $628.19 million for the quarter, compared to the consensus estimate of $596.79 million. During the same period last year, the firm posted $0.69 earnings per share. The business's revenue was up 23.9% compared to the same quarter last year. On average, analysts forecast that TPG Inc. will post 2.88 earnings per share for the current fiscal year.

TPG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Friday, August 14th. TPG's dividend payout ratio (DPR) is presently 357.58%.

Trending Headlines about TPG

Here are the key news stories impacting TPG this week:

• Positive Sentiment: TPG is reportedly exploring a sale of healthcare payments software company Lyric that could value the business at approximately $5 billion. A transaction could provide TPG with substantial proceeds and validate the value of its investment, although the discussions are preliminary and no deal is guaranteed. Reuters article on TPG exploring a Lyric sale
• Positive Sentiment: UnitedHealth is selling TPG an interest in part of its Florida Optum Health primary-care clinic network, including WellMed operations. The investment expands TPG’s healthcare platform and could create opportunities for operational growth, though financial terms and the size of the stake were not disclosed. Bloomberg article on UnitedHealth selling Florida Optum clinics interest to TPG
• Neutral Sentiment: TPG-backed Third Wave Insurance appointed Vredenburg as chief executive, a leadership change that may support the portfolio company’s next phase but has no immediate disclosed impact on TPG’s financial results. The Insurer article on Third Wave Insurance leadership
• Negative Sentiment: TPG executive Todd Sisitsky was named co-CEO of CVC, creating a senior leadership departure from TPG. Although the move may reflect the strength of TPG’s executive talent, investors could view the loss as a succession and retention concern. Wall Street Journal article on Todd Sisitsky joining CVC
• Neutral Sentiment: The reported short-interest data shows zero shares both currently and in the prior period, with a “NaN” percentage change and zero days to cover. This appears to be a data-quality issue rather than evidence of a meaningful change in bearish positioning.

Analyst Ratings Changes

TPG has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of TPG from $53.00 to $57.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Morgan Stanley dropped their price objective on TPG from $60.00 to $54.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 21st. Wall Street Zen upgraded TPG from a "sell" rating to a "hold" rating in a research report on Sunday, July 26th. TD Cowen upgraded TPG from a "hold" rating to a "buy" rating and set a $64.00 target price on the stock in a research note on Thursday, August 6th. Finally, Citigroup reaffirmed an "outperform" rating on shares of TPG in a report on Thursday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $63.33.

TPG Profile

TPG Inc NASDAQ: TPG is a global alternative asset management firm that invests across private equity, growth equity, impact investing, real estate, and credit and market solutions. The company manages investment funds and strategies for institutional investors, family offices, sovereign wealth funds, and other clients.

Through its various investment platforms, TPG provides capital to companies at different stages of development and across multiple industries. Its activities include acquiring and supporting established businesses, investing in high-growth companies, financing real estate and credit opportunities, and pursuing investments intended to generate both financial and social or environmental impact.

TPG was founded in 1992 by David Bonderman and James Coulter.

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