Invesco Ltd. Has $25.95 Million Position in TPG Inc. $TPG

Key Points

• Invesco Ltd. reduced its stake in TPG Inc. by 16.6%, selling 108,895 shares, and now owns approximately 0.15% of the company valued at $25.95 million.
• TPG Inc. announced a quarterly dividend increase to $0.59 per share, representing a 3.9% yield, and the dividend payout ratio is noted at -1,242.11%.
• Several analysts have raised their price targets for TPG, with a consensus target of $62.57 and ratings varying from "Strong Buy" to "Moderate Buy."

Invesco Ltd. trimmed its position in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 16.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 547,177 shares of the company's stock after selling 108,895 shares during the period. Invesco Ltd. owned 0.15% of TPG worth $25,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP increased its holdings in TPG by 132.3% during the first quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $30,000 after buying an additional 369 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in TPG during the fourth quarter worth $67,000. Comerica Bank boosted its position in TPG by 71.4% during the fourth 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 boosted its position in TPG by 12,263.6% during the first 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. Finally, Signaturefd LLC boosted its position in TPG by 27.0% during the first quarter. Signaturefd LLC now owns 1,443 shares of the company's stock worth $68,000 after purchasing an additional 307 shares during the period. 94.03% of the stock is currently owned by institutional investors and hedge funds.

TPG Stock Performance

Shares of TPG stock traded up $0.85 during trading on Friday, reaching $60.94. The company's stock had a trading volume of 1,960,831 shares, compared to its average volume of 1,956,324. The business's 50-day moving average price is $56.34 and its 200-day moving average price is $52.13. The firm has a market cap of $23.03 billion, a PE ratio of -320.74, a P/E/G ratio of 1.26 and a beta of 1.56. TPG Inc. has a 52 week low of $37.52 and a 52 week high of $72.98. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45.

TPG (NASDAQ:TPG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.24. The company had revenue of $495.12 million during the quarter, compared to analysts' expectations of $470.57 million. TPG had a net margin of 1.60% and a return on equity of 25.79%. TPG's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 earnings per share. Equities analysts forecast that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, August 18th. This is a positive change from TPG's previous quarterly dividend of $0.41. This represents a $2.36 annualized dividend and a yield of 3.9%. TPG's payout ratio is presently -1,242.11%.

Analyst Upgrades and Downgrades

A number of research firms have commented on TPG. Evercore ISI lifted their price objective on shares of TPG from $52.00 to $60.00 and gave the stock an "in-line" rating in a research report on Friday, August 8th. Wolfe Research began coverage on shares of TPG in a research report on Friday, June 20th. They set an "outperform" rating and a $60.00 price objective for the company. UBS Group reduced their price objective on shares of TPG from $72.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. BNP Paribas raised shares of TPG to a "strong-buy" rating in a research report on Wednesday, July 30th. Finally, BNP Paribas Exane raised shares of TPG from a "neutral" rating to an "outperform" rating and set a $69.00 price objective for the company in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $62.57.

Insider Buying and Selling

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total transaction of $101,150.72. Following the completion of the transaction, the director owned 16,807 shares of the company's stock, valued at approximately $946,570.24. The trade was a 9.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 69.98% of the company's stock.

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.