Florida Financial Advisors LLC Makes New Investment in TPG Inc. (NASDAQ:TPG)

Florida Financial Advisors LLC bought a new stake in TPG Inc. (NASDAQ:TPG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,252 shares of the company's stock, valued at approximately $249,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cerity Partners LLC lifted its position in shares of TPG by 15.9% in the first quarter. Cerity Partners LLC now owns 69,802 shares of the company's stock valued at $3,311,000 after acquiring an additional 9,565 shares in the last quarter. Alps Advisors Inc. lifted its position in shares of TPG by 75.8% in the first quarter. Alps Advisors Inc. now owns 31,280 shares of the company's stock valued at $1,484,000 after acquiring an additional 13,490 shares in the last quarter. Allworth Financial LP lifted its position in shares of TPG by 132.3% in the first quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $30,000 after acquiring an additional 369 shares in the last quarter. Richard Bernstein Advisors LLC purchased a new position in shares of TPG in the first quarter valued at approximately $2,915,000. Finally, Teacher Retirement System of Texas purchased a new position in shares of TPG in the first quarter valued at approximately $540,000. Hedge funds and other institutional investors own 94.03% of the company's stock.

Wall Street Analyst Weigh In

TPG has been the subject of several recent research reports. Citigroup increased their price target on TPG from $56.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Wolfe Research initiated coverage on TPG in a report on Friday, June 20th. They issued an "outperform" rating and a $60.00 price target for the company. TD Cowen cut their price target on TPG from $65.00 to $42.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Evercore ISI increased their price target on TPG from $49.00 to $52.00 and gave the company an "in-line" rating in a report on Thursday, July 10th. Finally, UBS Group cut their price target on TPG from $72.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.77.

Insider Buying and Selling at TPG

In other 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 76.48% of the company's stock.

TPG Stock Up 1.8%

NASDAQ:TPG traded up $1.00 during midday trading on Wednesday, reaching $55.21. The company had a trading volume of 1,236,918 shares, compared to its average volume of 1,650,326. The firm has a market capitalization of $20.56 billion, a price-to-earnings ratio of -167.26, a PEG ratio of 1.19 and a beta of 1.55. The stock's fifty day simple moving average is $50.89 and its 200-day simple moving average is $53.29. TPG Inc. has a 12-month low of $37.52 and a 12-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 announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The business had revenue of $476.26 million for the quarter, compared to analysts' expectations of $459.75 million. TPG had a return on equity of 24.47% and a net margin of 0.90%. The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. On average, sell-side analysts anticipate that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Monday, May 19th. TPG's payout ratio is currently -496.97%.

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.