Mirae Asset Global Investments Co. Ltd. increased its stake in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 27.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,250 shares of the company's stock after buying an additional 6,267 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in TPG were worth $1,396,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Treasurer of the State of North Carolina increased its holdings in TPG by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 36,946 shares of the company's stock worth $2,322,000 after buying an additional 230 shares during the last quarter. Comerica Bank increased its holdings in TPG by 71.4% during the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock worth $68,000 after buying an additional 450 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in TPG by 6.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 8,021 shares of the company's stock worth $504,000 after buying an additional 498 shares during the last quarter. QRG Capital Management Inc. increased its holdings in TPG by 7.0% during the first quarter. QRG Capital Management Inc. now owns 8,010 shares of the company's stock worth $380,000 after buying an additional 521 shares during the last quarter. Finally, Mariner LLC increased its stake in shares of TPG by 16.3% in the fourth quarter. Mariner LLC now owns 4,151 shares of the company's stock worth $261,000 after purchasing an additional 582 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company's stock.
TPG Trading Up 0.9%
Shares of NASDAQ TPG traded up $0.50 during mid-day trading on Tuesday, hitting $53.49. The stock had a trading volume of 1,423,648 shares, compared to its average volume of 1,348,584. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.18 and a current ratio of 0.18. The business has a 50 day moving average price of $50.05 and a two-hundred day moving average price of $53.61. The firm has a market cap of $19.77 billion, a P/E ratio of -162.09, a price-to-earnings-growth ratio of 1.12 and a beta of 1.55. TPG Inc. has a 1 year low of $37.52 and a 1 year high of $72.98.
TPG (NASDAQ:TPG - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $459.75 million. TPG had a net margin of 0.90% and a return on equity of 24.47%. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. On average, equities analysts anticipate that TPG Inc. will post 2.52 EPS for the current fiscal year.
TPG Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.64 dividend on an annualized basis and a yield of 3.07%. TPG's dividend payout ratio (DPR) is currently -496.97%.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of TPG from $56.00 to $58.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. UBS Group cut their price objective on shares of TPG from $72.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Morgan Stanley restated an "equal weight" rating and issued a $47.00 price objective (down from $80.00) on shares of TPG in a research report on Monday, April 14th. TD Cowen cut their price objective 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. Finally, Citigroup cut their price objective on shares of TPG from $72.00 to $56.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.23.
Get Our Latest Stock Analysis on TPG
Insider Transactions at TPG
In related news, major shareholder Samantha Holloway sold 21,000,000 shares of TPG stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total transaction of $977,970,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 76.48% of the stock is currently owned by company 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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