Lord Abbett & CO. LLC Has $47.45 Million Stock Holdings in TPG Inc. (NASDAQ:TPG)

Key Points

• Lord Abbett & CO. LLC has reduced its holdings in TPG Inc. by 16.2%, now owning approximately 1,000,372 shares valued at $47.45 million.
• TPG Inc. reported a quarterly EPS of $0.69, surpassing analysts' expectations, with a revenue of $495.12 million, reflecting an 8.9% year-over-year increase.
• The company recently announced a quarterly dividend increase to $0.59 per share, resulting in an annualized yield of 3.7%.

Lord Abbett & CO. LLC cut its position in TPG Inc. (NASDAQ:TPG - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,000,372 shares of the company's stock after selling 193,826 shares during the period. Lord Abbett & CO. LLC owned about 0.27% of TPG worth $47,448,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TPG. Wells Fargo & Company MN raised its holdings in shares of TPG by 74.7% during the fourth quarter. Wells Fargo & Company MN now owns 85,219 shares of the company's stock worth $5,355,000 after acquiring an additional 36,442 shares during the period. Invesco Ltd. raised its holdings in shares of TPG by 103.7% during the fourth quarter. Invesco Ltd. now owns 656,072 shares of the company's stock worth $41,228,000 after acquiring an additional 333,973 shares during the period. Legal & General Group Plc raised its holdings in shares of TPG by 25.5% during the fourth quarter. Legal & General Group Plc now owns 75,034 shares of the company's stock worth $4,715,000 after acquiring an additional 15,248 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of TPG during the fourth quarter worth $615,000. Finally, Treasurer of the State of North Carolina raised its holdings in shares of TPG by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 36,946 shares of the company's stock worth $2,322,000 after acquiring an additional 230 shares during the period. 94.03% of the stock is currently owned by institutional investors and hedge funds.

TPG Stock Performance

Shares of TPG opened at $64.17 on Friday. The firm has a 50-day moving average of $55.07 and a 200-day moving average of $52.34. TPG Inc. has a one year low of $37.52 and a one year high of $72.98. The company has a market cap of $23.89 billion, a PE ratio of -337.74, a price-to-earnings-growth ratio of 1.40 and a beta of 1.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.40 and a quick ratio of 0.40.

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

TPG Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a dividend of $0.59 per share. The ex-dividend date is Monday, August 18th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from TPG's previous quarterly dividend of $0.41. TPG's dividend payout ratio is -863.16%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TPG shares. BNP Paribas upgraded shares of TPG to a "strong-buy" rating in a report on Wednesday, July 30th. Wolfe Research started coverage on shares of TPG in a report on Friday, June 20th. They set an "outperform" rating and a $60.00 price objective on the stock. Evercore ISI raised their price objective on shares of TPG from $52.00 to $60.00 and gave the stock an "in-line" rating in a report on Friday, August 8th. The Goldman Sachs Group raised their target price on shares of TPG from $61.00 to $69.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, BNP Paribas Exane raised shares of TPG from a "neutral" rating to an "outperform" rating and set a $69.00 target price for the company in a research report on Wednesday, July 30th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.57.

Insider Transactions at TPG

In other news, Director Deborah M. Messemer sold 1,796 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total transaction of $101,150.72. Following the completion of the sale, the director owned 16,807 shares in the company, valued at approximately $946,570.24. This trade represents a 9.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Samantha Holloway sold 21,000,000 shares of the firm's 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 disclosure for this sale can be found here. Company insiders own 69.98% of the company's stock.

TPG Company Profile

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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