Massachusetts Financial Services Co. MA Sells 48,821 Shares of TPG Inc. (NASDAQ:TPG)

Massachusetts Financial Services Co. MA lessened its stake in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 0.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,111,810 shares of the company's stock after selling 48,821 shares during the period. Massachusetts Financial Services Co. MA owned about 1.65% of TPG worth $289,883,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TPG. Mirae Asset Global Investments Co. Ltd. boosted its position in TPG by 27.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,250 shares of the company's stock worth $1,396,000 after purchasing an additional 6,267 shares during the period. JPMorgan Chase & Co. boosted its position in TPG by 2,515.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company's stock worth $104,296,000 after purchasing an additional 1,596,254 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in TPG by 62.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company's stock worth $360,000 after purchasing an additional 2,913 shares during the period. Raymond James Financial Inc. bought a new position in TPG during the fourth quarter worth about $615,000. Finally, Lighthouse Investment Partners LLC bought a new position in TPG during the fourth quarter worth about $11,852,000. Hedge funds and other institutional investors own 94.03% of the company's stock.

Insider Transactions at TPG

In other news, major shareholder Samantha Holloway sold 21,000,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total value of $977,970,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 76.48% of the stock is currently owned by insiders.

TPG Price Performance

TPG traded up $1.18 on Wednesday, reaching $55.39. The company had a trading volume of 1,404,833 shares, compared to its average volume of 1,355,907. The business has a 50 day simple moving average of $50.89 and a 200 day simple moving average of $53.29. The company has a market cap of $20.63 billion, a price-to-earnings ratio of -167.94, a P/E/G ratio of 1.19 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.18 and a current ratio of 0.18. TPG Inc. has a 52-week low of $37.52 and a 52-week high of $72.98.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). TPG had a return on equity of 24.47% and a net margin of 0.90%. The business had revenue of $476.26 million during the quarter, compared to the consensus estimate of $459.75 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company's revenue was up 6.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that TPG Inc. will post 2.52 EPS for the current year.

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.96%. The ex-dividend date was Monday, May 19th. TPG's dividend payout ratio is presently -496.97%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. TD Cowen cut their target price on shares of TPG from $65.00 to $42.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company raised their price objective on shares of TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Citigroup raised their price objective on shares of TPG from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Bank of America cut their price objective on shares of TPG from $72.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Finally, The Goldman Sachs Group cut their price objective on shares of TPG from $70.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, TPG currently has an average rating of "Moderate Buy" and an average target price of $59.77.

TPG 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.