Man Group plc Decreases Position in Texas Pacific Land Co. (NYSE:TPL)

Man Group plc lessened its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,890 shares of the financial services provider's stock after selling 211 shares during the quarter. Man Group plc's holdings in Texas Pacific Land were worth $5,408,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in Texas Pacific Land by 108.3% during the fourth quarter. Bessemer Group Inc. now owns 25 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 13 shares during the last quarter. Assetmark Inc. purchased a new stake in shares of Texas Pacific Land in the 4th quarter valued at $29,000. Atala Financial Inc bought a new position in shares of Texas Pacific Land during the 4th quarter valued at $31,000. TD Waterhouse Canada Inc. raised its position in Texas Pacific Land by 45.5% in the 4th quarter. TD Waterhouse Canada Inc. now owns 48 shares of the financial services provider's stock worth $53,000 after purchasing an additional 15 shares during the period. Finally, CoreCap Advisors LLC lifted its stake in Texas Pacific Land by 5,700.0% in the fourth quarter. CoreCap Advisors LLC now owns 58 shares of the financial services provider's stock worth $64,000 after purchasing an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Down 0.3%

Shares of TPL traded down $3.48 during trading hours on Monday, hitting $1,275.42. The company had a trading volume of 84,591 shares, compared to its average volume of 158,186. The firm has a market cap of $29.32 billion, a P/E ratio of 64.68 and a beta of 1.20. Texas Pacific Land Co. has a 52-week low of $578.56 and a 52-week high of $1,769.14. The stock's 50 day moving average price is $1,305.90 and its 200 day moving average price is $1,325.96.

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

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's dividend payout ratio (DPR) is currently 32.02%.

Insider Buying and Selling at Texas Pacific Land

In other news, VP Micheal W. Dobbs sold 1,150 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the transaction, the vice president now owns 1,393 shares in the company, valued at $1,771,227.36. This trade represents a 45.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Chris Steddum sold 214 shares of Texas Pacific Land stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. In the last ninety days, insiders have purchased 141 shares of company stock valued at $187,715. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Company 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.