Harbor Capital Advisors Inc. Decreases Holdings in TPG Inc. (NASDAQ:TPG)

Harbor Capital Advisors Inc. reduced its stake in TPG Inc. (NASDAQ:TPG - Free Report) by 92.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,013 shares of the company's stock after selling 23,922 shares during the period. Harbor Capital Advisors Inc.'s holdings in TPG were worth $95,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Fourth Dimension Wealth LLC purchased a new position in TPG in the 4th quarter worth approximately $67,000. Comerica Bank increased its stake in TPG by 71.4% in the 4th quarter. Comerica Bank now owns 1,080 shares of the company's stock worth $68,000 after purchasing an additional 450 shares during the period. Versant Capital Management Inc increased its stake in TPG by 12,263.6% in the 1st 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 during the period. Stifel Financial Corp purchased a new position in TPG in the 4th quarter worth approximately $206,000. Finally, Baker Avenue Asset Management LP purchased a new position in TPG in the 4th quarter worth approximately $220,000. 94.03% of the stock is owned by hedge funds and other institutional investors.

TPG Trading Down 3.8%

NASDAQ TPG opened at $49.82 on Monday. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36. TPG Inc. has a twelve month low of $37.52 and a twelve month high of $72.98. The firm has a market capitalization of $18.41 billion, a PE ratio of -113.23, a P/E/G ratio of 0.80 and a beta of 1.55. The stock's 50 day moving average is $47.50 and its 200 day moving average is $55.39.

TPG (NASDAQ:TPG - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). TPG had a net margin of 0.67% and a return on equity of 24.66%. The firm had revenue of $476.26 million for the quarter, compared to the consensus estimate of $459.75 million. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The company's revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts forecast that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.41 per share. The ex-dividend date was Monday, May 19th. This represents a $1.64 annualized dividend and a dividend yield of 3.29%. TPG's dividend payout ratio is presently -496.97%.

Insider Activity at TPG

In other TPG news, major shareholder Samantha Holloway sold 21,000,000 shares of the business's stock in a transaction on 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 SEC, which is available through the SEC website. Also, General Counsel Bradford Berenson sold 2,509 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total value of $125,550.36. Following the completion of the sale, the general counsel now directly owns 290,841 shares in the company, valued at $14,553,683.64. This trade represents a 0.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 69.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on TPG. TD Cowen decreased their price target on TPG from $65.00 to $42.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company boosted their target price on TPG from $56.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. The Goldman Sachs Group reduced their target price on TPG from $70.00 to $63.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley reissued an "equal weight" rating and set a $47.00 target price (down from $80.00) on shares of TPG in a research note on Monday, April 14th. Finally, Citigroup reduced their target price on TPG from $72.00 to $56.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $60.25.

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.

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