KLP Kapitalforvaltning AS Purchases 11,300 Shares of TPG Inc. $TPG

Key Points

• KLP Kapitalforvaltning AS increased its stake in TPG Inc. by 72.4%, acquiring an additional 11,300 shares and bringing its total ownership to 26,900 shares valued at $1,411,000.
• Analysts have mixed views on TPG, with Goldman Sachs and Bank of America upgrading their ratings and price targets to $69 and $78 respectively, while Zacks Research downgraded the stock to a "hold" rating.
• TPG recently raised its quarterly dividend from $0.41 to $0.59 per share, reflecting positive growth in revenue, which increased 8.9% year-over-year.

KLP Kapitalforvaltning AS raised its position in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 72.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,900 shares of the company's stock after purchasing an additional 11,300 shares during the quarter. KLP Kapitalforvaltning AS's holdings in TPG were worth $1,411,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TPG. Allworth Financial LP grew its stake in shares of TPG by 132.3% during the 1st quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $30,000 after purchasing an additional 369 shares during the period. GAMMA Investing LLC grew its stake in shares of TPG by 55.7% during the 2nd quarter. GAMMA Investing LLC now owns 945 shares of the company's stock valued at $50,000 after purchasing an additional 338 shares during the period. Signaturefd LLC grew its stake in shares of TPG by 27.0% during the 1st quarter. Signaturefd LLC now owns 1,443 shares of the company's stock valued at $68,000 after purchasing an additional 307 shares during the period. Parallel Advisors LLC grew its stake in shares of TPG by 43.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,380 shares of the company's stock valued at $72,000 after purchasing an additional 420 shares during the period. Finally, Comerica Bank grew its stake in shares of TPG by 43.1% during the 1st quarter. Comerica Bank now owns 1,545 shares of the company's stock valued at $73,000 after acquiring an additional 465 shares during the period. 94.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TPG shares. The Goldman Sachs Group boosted their price objective on TPG from $61.00 to $69.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Wolfe Research started coverage on TPG in a research note on Friday, June 20th. They set an "outperform" rating and a $60.00 price objective for the company. JPMorgan Chase & Co. upgraded TPG from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $65.00 to $78.00 in a research note on Monday, October 6th. Zacks Research downgraded TPG from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, October 8th. Finally, Bank of America boosted their price objective on TPG from $65.00 to $69.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, TPG has an average rating of "Moderate Buy" and a consensus target price of $64.50.

Insider Activity

In other news, Director Deborah M. Messemer sold 1,796 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total transaction of $101,150.72. Following the sale, the director directly owned 16,807 shares of the company's stock, valued at $946,570.24. This represents a 9.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 76.48% of the stock is owned by company insiders.

TPG Stock Up 2.1%

NASDAQ TPG opened at $56.06 on Tuesday. The stock's 50 day moving average is $60.25 and its 200 day moving average is $53.52. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45. TPG Inc. has a 12 month low of $37.52 and a 12 month high of $72.98. The stock has a market cap of $21.18 billion, a PE ratio of -295.05, a P/E/G ratio of 0.99 and a beta of 1.53.

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

TPG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a dividend of $0.59 per share. This is a positive change from TPG's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.36 annualized dividend and a dividend yield of 4.2%. TPG's payout ratio is currently -1,242.11%.

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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