Mirae Asset Global Investments Co. Ltd. grew its position in TPG Inc. (NASDAQ:TPG - Free Report) by 27.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,250 shares of the company's stock after acquiring an additional 6,267 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in TPG were worth $1,396,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Capital World Investors grew its holdings in TPG by 484.6% during the fourth quarter. Capital World Investors now owns 3,065,321 shares of the company's stock worth $192,625,000 after acquiring an additional 2,541,013 shares during the period. Norges Bank acquired a new stake in TPG in the fourth quarter valued at $100,675,000. JPMorgan Chase & Co. grew its holdings in TPG by 2,515.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company's stock valued at $104,296,000 after purchasing an additional 1,596,254 shares during the last quarter. Millennium Management LLC grew its holdings in TPG by 66.8% in the fourth quarter. Millennium Management LLC now owns 2,243,815 shares of the company's stock valued at $141,001,000 after purchasing an additional 898,943 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of TPG by 43.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,253,070 shares of the company's stock valued at $141,584,000 after acquiring an additional 683,572 shares during the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.
TPG Trading Up 0.7%
Shares of TPG stock traded up $0.36 on Friday, reaching $54.03. 1,399,694 shares of the company were exchanged, compared to its average volume of 1,342,918. The stock has a fifty day moving average price of $49.80 and a 200-day moving average price of $53.83. The firm has a market capitalization of $19.97 billion, a price-to-earnings ratio of -163.73, a price-to-earnings-growth ratio of 1.14 and a beta of 1.55. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.42. TPG Inc. has a fifty-two week low of $37.52 and a fifty-two week high of $72.98.
TPG (NASDAQ:TPG - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The company had revenue of $476.26 million for the quarter, compared to analyst estimates of $459.75 million. TPG had a return on equity of 24.47% and a net margin of 0.90%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. On average, analysts expect that TPG Inc. will post 2.52 EPS for the current year.
TPG Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.04%. The ex-dividend date was Monday, May 19th. TPG's payout ratio is currently -496.97%.
Analyst Upgrades and Downgrades
TPG has been the topic of a number of research analyst reports. TD Cowen decreased their price target on TPG from $65.00 to $42.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Citigroup reduced their price target on TPG from $72.00 to $56.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley reissued an "equal weight" rating and set a $47.00 price target (down from $80.00) on shares of TPG in a research report on Monday, April 14th. The Goldman Sachs Group reduced their price target on TPG from $70.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Finally, Bank of America dropped their price objective on TPG from $72.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.23.
View Our Latest Report on TPG
Insiders Place Their Bets
In other TPG news, major shareholder Samantha Holloway sold 21,000,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total value of $977,970,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 69.98% of the stock is currently owned by insiders.
TPG Company Profile
(
Free Report)
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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