Highland Capital Management LLC Sells 9,977 Shares of TPG Inc. (NASDAQ:TPG)

Highland Capital Management LLC reduced its position in TPG Inc. (NASDAQ:TPG - Free Report) by 19.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,290 shares of the company's stock after selling 9,977 shares during the period. Highland Capital Management LLC's holdings in TPG were worth $1,958,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in TPG by 27.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,250 shares of the company's stock valued at $1,396,000 after acquiring an additional 6,267 shares in the last quarter. Border to Coast Pensions Partnership Ltd lifted its stake in TPG by 142.3% during the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 315,000 shares of the company's stock valued at $14,940,000 after acquiring an additional 185,000 shares in the last quarter. Trust Co. of Vermont lifted its stake in TPG by 24.1% during the 1st quarter. Trust Co. of Vermont now owns 43,203 shares of the company's stock valued at $2,049,000 after acquiring an additional 8,380 shares in the last quarter. Private Wealth Partners LLC lifted its stake in TPG by 4.2% during the 1st quarter. Private Wealth Partners LLC now owns 15,000 shares of the company's stock valued at $711,000 after acquiring an additional 600 shares in the last quarter. Finally, Vicus Capital bought a new position in TPG during the 1st quarter valued at $204,000. 94.03% of the stock is currently owned by institutional investors.

TPG Trading Up 0.5%

Shares of TPG opened at $53.09 on Friday. The business has a 50-day moving average of $48.91 and a 200 day moving average of $54.22. TPG Inc. has a fifty-two week low of $37.52 and a fifty-two week high of $72.98. The firm has a market cap of $19.62 billion, a P/E ratio of -160.88, a price-to-earnings-growth ratio of 1.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.18 and a current ratio of 0.18.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings data 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 return on equity of 24.47% and a net margin of 0.90%. The firm had revenue of $476.26 million during the quarter, compared to analysts' expectations of $459.75 million. During the same period last year, the business posted $0.49 EPS. The company's revenue was up 6.1% compared to the same quarter last year. As a group, research analysts forecast that TPG Inc. will post 2.52 EPS for the current year.

TPG Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.09%. The ex-dividend date was Monday, May 19th. TPG's dividend payout ratio (DPR) is currently -496.97%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TPG. Wolfe Research began coverage on TPG in a research note on Friday, June 20th. They set an "outperform" rating and a $60.00 price objective on the stock. Citigroup dropped their price objective on TPG from $72.00 to $56.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Bank of America lowered their target price on TPG from $72.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Morgan Stanley reiterated 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, Wells Fargo & Company lifted their target price on TPG from $56.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, TPG has an average rating of "Moderate Buy" and an average price target of $60.23.

Insider Buying and Selling

In other TPG news, major shareholder Samantha Holloway sold 21,000,000 shares of TPG stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total transaction of $977,970,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 69.98% of the stock is currently owned by insiders.

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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