Mirae Asset Global Investments Co. Ltd. Has $1.04 Million Holdings in TPG Inc. $TPG

Key Points

• Mirae Asset Global Investments reduced its holdings in TPG Inc. by 32.1%, now owning 19,870 shares worth approximately $1.04 million, as disclosed in its recent SEC filing.
• TPG recently declared a quarterly dividend of $0.59 per share, increasing from the previous dividend of $0.41, resulting in an annual yield of 4.1%.
• Several analysts have provided updated ratings for TPG, with Bank of America raising its price target from $65.00 to $69.00 and giving it a "buy" rating.

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 32.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,870 shares of the company's stock after selling 9,380 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in TPG were worth $1,042,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Temasek Holdings Private Ltd grew its holdings in shares of TPG by 114.2% during the first quarter. Temasek Holdings Private Ltd now owns 8,529,631 shares of the company's stock worth $404,560,000 after purchasing an additional 4,548,452 shares during the last quarter. Wellington Management Group LLP increased its position in shares of TPG by 69.1% during the 1st quarter. Wellington Management Group LLP now owns 10,693,179 shares of the company's stock valued at $507,177,000 after purchasing an additional 4,369,618 shares during the last quarter. Vulcan Value Partners LLC bought a new position in shares of TPG during the 1st quarter worth $86,332,000. Vanguard Group Inc. boosted its stake in TPG by 12.5% in the 1st quarter. Vanguard Group Inc. now owns 9,303,272 shares of the company's stock worth $441,254,000 after purchasing an additional 1,037,225 shares during the period. Finally, CW Advisors LLC purchased a new stake in shares of TPG in the 1st quarter valued at about $36,780,000. Institutional investors own 94.03% of the company's stock.

Insider Buying and Selling at TPG

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total transaction of $101,150.72. Following the completion of the sale, the director owned 16,807 shares in the company, valued at approximately $946,570.24. The trade was a 9.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 69.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TPG. Bank of America lifted their price target on TPG from $65.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Weiss Ratings reissued a "hold (c-)" rating on shares of TPG in a research note on Wednesday. Zacks Research upgraded TPG from a "hold" rating to a "strong-buy" rating in a report on Monday, September 8th. Wells Fargo & Company increased their target price on TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Finally, Wolfe Research began coverage on TPG in a research note on Friday, June 20th. They issued an "outperform" rating and a $60.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, TPG currently has an average rating of "Moderate Buy" and a consensus price target of $64.14.

TPG Trading Up 0.6%

TPG opened at $58.18 on Friday. TPG Inc. has a 1-year low of $37.52 and a 1-year high of $72.98. The firm has a 50-day moving average price of $60.29 and a two-hundred day moving average price of $53.40. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $21.98 billion, a PE ratio of -306.21, a PEG ratio of 1.11 and a beta of 1.53.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the firm posted $0.49 earnings per share. The business's revenue was up 8.9% on a year-over-year basis. As a group, equities analysts anticipate that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

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