Jennison Associates LLC Buys 69,021 Shares of TPG Inc. $TPG

Key Points

• Jennison Associates LLC boosted its TPG stake by 32.3% in Q1, buying 69,021 shares and bringing its holdings to 282,527 shares worth about $11.4 million.
• TPG remains heavily owned by institutions, with 94.03% of shares held by institutional investors and hedge funds. Several other funds also increased or initiated positions recently.
• Analysts are still generally positive on the stock: the consensus rating is Moderate Buy with a $61 price target, even as TPG traded around $42.84 and reported mixed quarterly results that beat EPS estimates but missed revenue expectations.

Jennison Associates LLC raised its stake in TPG Inc. (NASDAQ:TPG - Free Report) by 32.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 282,527 shares of the company's stock after purchasing an additional 69,021 shares during the period. Jennison Associates LLC owned approximately 0.07% of TPG worth $11,445,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of TPG by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 12,700,928 shares of the company's stock valued at $810,827,000 after buying an additional 314,295 shares during the period. Private Wealth Partners LLC increased its stake in TPG by 95.7% during the fourth quarter. Private Wealth Partners LLC now owns 222,900 shares of the company's stock valued at $14,230,000 after acquiring an additional 109,020 shares during the period. Tudor Investment Corp ET AL bought a new position in TPG during the third quarter valued at about $3,221,000. Frank Rimerman Advisors LLC raised its holdings in TPG by 173.8% in the 1st quarter. Frank Rimerman Advisors LLC now owns 42,533 shares of the company's stock valued at $1,723,000 after acquiring an additional 26,998 shares in the last quarter. Finally, Interval Partners LP acquired a new position in TPG in the 4th quarter valued at approximately $16,072,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TPG. The Goldman Sachs Group reiterated a "buy" rating and issued a $61.00 price objective on shares of TPG in a research report on Tuesday, May 5th. TD Cowen lowered their price objective on TPG from $48.00 to $45.00 and set a "hold" rating on the stock in a research report on Monday, May 18th. Weiss Ratings upgraded TPG from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 16th. Evercore set a $47.00 target price on TPG in a research report on Tuesday, April 21st. Finally, Citigroup reiterated an "outperform" rating on shares of TPG in a research note on Thursday, July 9th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $61.00.

TPG Trading Down 0.3%

Shares of TPG stock opened at $42.84 on Wednesday. The stock has a market capitalization of $16.46 billion, a P/E ratio of 194.74, a price-to-earnings-growth ratio of 0.79 and a beta of 1.45. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $41.94 and a 200 day simple moving average of $46.40. TPG Inc. has a 12-month low of $36.95 and a 12-month high of $70.38.

TPG (NASDAQ:TPG - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.09. The firm had revenue of $557.18 million for the quarter, compared to analyst estimates of $608.07 million. TPG had a net margin of 3.81% and a return on equity of 28.13%. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.48 earnings per share. Research analysts expect that TPG Inc. will post 2.85 earnings per share for the current fiscal year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were paid a $0.59 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.5%. TPG's payout ratio is 1,072.73%.

TPG Company Profile

TPG Inc NASDAQ: TPG is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.

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