Man Group plc Sells 211 Shares of Texas Pacific Land Co. (NYSE:TPL)

Man Group plc decreased its stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 4.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,890 shares of the financial services provider's stock after selling 211 shares during the period. Man Group plc's holdings in Texas Pacific Land were worth $5,408,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. raised its stake in Texas Pacific Land by 108.3% in the 4th quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock worth $28,000 after purchasing an additional 13 shares in the last quarter. Assetmark Inc. acquired a new position in Texas Pacific Land during the 4th quarter worth approximately $29,000. Atala Financial Inc acquired a new position in Texas Pacific Land during the 4th quarter worth approximately $31,000. TD Waterhouse Canada Inc. grew its holdings in Texas Pacific Land by 45.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock worth $53,000 after acquiring an additional 15 shares during the last quarter. Finally, CoreCap Advisors LLC grew its holdings in Texas Pacific Land by 5,700.0% during the 4th quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock worth $64,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

TPL opened at $1,371.96 on Wednesday. The company's 50 day moving average price is $1,307.61 and its two-hundred day moving average price is $1,325.11. Texas Pacific Land Co. has a fifty-two week low of $578.56 and a fifty-two week high of $1,769.14. The firm has a market capitalization of $31.54 billion, a price-to-earnings ratio of 69.57 and a beta of 1.20.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $195.98 million during the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $1.60 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 annualized dividend and a yield of 0.47%. Texas Pacific Land's payout ratio is 32.02%.

Insiders Place Their Bets

In other news, CFO Chris Steddum sold 214 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the completion of the sale, the chief financial officer now owns 3,502 shares in the company, valued at $4,601,592.98. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the transaction, the vice president now owns 1,393 shares of the company's stock, valued at approximately $1,771,227.36. The trade was a 45.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 132 shares of company stock worth $175,331. Insiders own 6.50% of the company's stock.

Texas Pacific Land Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.

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