Maryland State Retirement & Pension System Takes Position in TPG Inc. $TPG

Key Points

• The Maryland State Retirement & Pension System acquired a new stake in TPG Inc., purchasing 6,293 shares valued at approximately $330,000 during the second quarter.
• TPG reported a quarterly earnings per share (EPS) of $0.69, exceeding analyst expectations of $0.45, and experienced an 8.9% increase in revenue year-over-year.
• Following recent evaluations, TPG holds a consensus rating of "Moderate Buy" among analysts, with a price target averaging $64.50.

Maryland State Retirement & Pension System bought a new stake in TPG Inc. (NASDAQ:TPG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,293 shares of the company's stock, valued at approximately $330,000.

Several other large investors also recently bought and sold shares of the business. KLP Kapitalforvaltning AS grew its stake in TPG by 72.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 26,900 shares of the company's stock valued at $1,411,000 after acquiring an additional 11,300 shares in the last quarter. QRG Capital Management Inc. grew its stake in TPG by 3.0% during the 2nd quarter. QRG Capital Management Inc. now owns 8,251 shares of the company's stock valued at $433,000 after acquiring an additional 241 shares in the last quarter. Barrett & Company Inc. grew its stake in TPG by 857.1% during the 2nd quarter. Barrett & Company Inc. now owns 3,350 shares of the company's stock valued at $176,000 after acquiring an additional 3,000 shares in the last quarter. Trust Co. of Vermont grew its stake in TPG by 11.2% during the 2nd quarter. Trust Co. of Vermont now owns 48,022 shares of the company's stock valued at $2,519,000 after acquiring an additional 4,819 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in TPG by 17.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,475 shares of the company's stock valued at $340,000 after acquiring an additional 965 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of TPG from $52.00 to $60.00 and gave the company an "in-line" rating in a research note on Friday, August 8th. Wolfe Research assumed coverage on shares of TPG in a report on Friday, June 20th. They issued an "outperform" rating and a $60.00 target price on the stock. Citigroup decreased their target price on shares of TPG from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Monday. Wells Fargo & Company boosted their target price on shares of TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of TPG in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, TPG has a consensus rating of "Moderate Buy" and a consensus price target of $64.50.

TPG Stock Performance

Shares of TPG stock opened at $57.07 on Wednesday. The firm's 50 day moving average price is $60.25 and its 200-day moving average price is $53.54. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.40. TPG Inc. has a one year low of $37.52 and a one year high of $72.98. The firm has a market cap of $21.57 billion, a P/E ratio of -300.37, a P/E/G ratio of 1.02 and a beta of 1.53.

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

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were issued a $0.59 dividend. The ex-dividend date was Monday, August 18th. This represents a $2.36 annualized dividend and a dividend yield of 4.1%. This is an increase from TPG's previous quarterly dividend of $0.41. TPG's dividend payout ratio (DPR) 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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