First Trust Advisors LP Sells 462,292 Shares of TPG Inc. $TPG

Key Points

• First Trust Advisors LP reduced its TPG stake by 55.2%, selling 462,292 shares during the first quarter and retaining 375,675 shares valued at approximately $15.2 million.
• Other institutional investors, including Temasek and Dimensional Fund Advisors, increased their holdings; institutions collectively own 94.03% of TPG’s outstanding stock.
• Analysts maintain a generally positive outlook, with TPG rated “Moderate Buy” and an average price target of $60.43 versus a recent share price of $42.70. The company’s latest quarterly EPS of $0.70 exceeded estimates, while revenue rose 14.1% year over year.

First Trust Advisors LP cut its holdings in TPG Inc. (NASDAQ:TPG - Free Report) by 55.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 375,675 shares of the company's stock after selling 462,292 shares during the quarter. First Trust Advisors LP owned approximately 0.10% of TPG worth $15,219,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Temasek Holdings Private Ltd raised its stake in TPG by 14.1% during the first quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company's stock worth $406,239,000 after acquiring an additional 1,236,526 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of TPG by 24.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 322,077 shares of the company's stock valued at $13,045,000 after purchasing an additional 63,818 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of TPG by 15.5% in the 1st quarter. Parallel Advisors LLC now owns 2,089 shares of the company's stock valued at $85,000 after purchasing an additional 281 shares in the last quarter. Next Capital Management LLC bought a new stake in shares of TPG during the 1st quarter valued at approximately $1,052,000. Finally, Swiss National Bank grew its holdings in shares of TPG by 0.6% during the 1st quarter. Swiss National Bank now owns 275,400 shares of the company's stock valued at $11,156,000 after purchasing an additional 1,700 shares during the last quarter. Institutional investors own 94.03% of the company's stock.

Wall Street Analyst Weigh In

TPG has been the subject of several research reports. UBS Group increased their price objective on shares of TPG from $54.00 to $59.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Citizens Jmp decreased their target price on shares of TPG from $75.00 to $68.00 and set a "market outperform" rating on the stock in a research note on Thursday, July 9th. Wall Street Zen upgraded shares of TPG from a "sell" rating to a "hold" rating in a report on Sunday, July 26th. Evercore set a $47.00 price target on TPG in a research note on Tuesday, April 21st. Finally, Morgan Stanley dropped their price target 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. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, TPG currently has an average rating of "Moderate Buy" and an average price target of $60.43.

TPG Stock Performance

TPG stock opened at $42.70 on Friday. The business has a 50 day moving average of $42.07 and a 200-day moving average of $45.21. The company has a market capitalization of $16.41 billion, a P/E ratio of 194.10, a P/E/G ratio of 0.78 and a beta of 1.45. 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 0.33 and a quick ratio of 0.33.

TPG (NASDAQ:TPG - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.61 by $0.09. TPG had a net margin of 3.81% and a return on equity of 28.13%. The business had revenue of $557.18 million for the quarter, compared to the consensus estimate of $608.07 million. During the same period last year, the company earned $0.48 EPS. The firm's revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts predict that TPG Inc. will post 2.83 earnings per share for the current year.

About TPG

TPG Inc NASDAQ: TPG is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.

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