Harbor Capital Advisors Inc. lowered its stake in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 92.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,013 shares of the company's stock after selling 23,922 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in TPG were worth $95,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of TPG. Wesbanco Bank Inc. purchased a new position in shares of TPG in the 1st quarter worth approximately $522,000. GAMMA Investing LLC boosted its stake in TPG by 5,612.3% in the 1st quarter. GAMMA Investing LLC now owns 28,790 shares of the company's stock worth $1,366,000 after purchasing an additional 28,286 shares during the period. Versant Capital Management Inc grew its stake in TPG by 12,263.6% during the first quarter. Versant Capital Management Inc now owns 1,360 shares of the company's stock valued at $65,000 after acquiring an additional 1,349 shares in the last quarter. California State Teachers Retirement System boosted its stake in TPG by 2.5% during the fourth quarter. California State Teachers Retirement System now owns 72,575 shares of the company's stock valued at $4,561,000 after buying an additional 1,760 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of TPG during the fourth quarter worth about $67,000. 94.03% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at TPG
In other TPG news, major shareholder Samantha Holloway sold 21,000,000 shares of TPG stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 at the SEC website. 69.98% of the stock is currently owned by insiders.
TPG Stock Up 2.2%
NASDAQ:TPG traded up $1.08 on Thursday, reaching $49.93. 1,385,684 shares of the stock traded hands, compared to its average volume of 1,298,898. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $18.45 billion, a price-to-earnings ratio of -151.30, a PEG ratio of 1.03 and a beta of 1.55. TPG Inc. has a 12 month low of $37.52 and a 12 month high of $72.98. The company's fifty day simple moving average is $47.85 and its 200 day simple moving average is $55.17.
TPG (NASDAQ:TPG - Get Free Report) last announced 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 0.90% and a return on equity of 24.47%. The firm had revenue of $476.26 million for the quarter, compared to the consensus estimate of $459.75 million. During the same period last year, the business earned $0.49 EPS. TPG's revenue was up 6.1% on a year-over-year basis. Equities analysts predict that TPG Inc. will post 2.52 EPS for the current fiscal year.
TPG Cuts Dividend
The firm also recently disclosed 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 3.28%. TPG's dividend payout ratio (DPR) is presently -496.97%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Wells Fargo & Company increased 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. UBS Group cut their price target on shares of TPG from $72.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. 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. Morgan Stanley restated an "equal weight" rating and issued a $47.00 price objective (down from $80.00) on shares of TPG in a report on Monday, April 14th. Finally, TD Cowen reduced 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. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.25.
Read Our Latest Report on TPG
About TPG
(
Free Report)
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.
Further Reading
Before you consider TPG, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TPG wasn't on the list.
While TPG currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
