Neuberger Berman Group LLC Has $15.56 Million Holdings in TPG Inc. (NASDAQ:TPG)

Key Points

• Neuberger Berman Group LLC has reduced its holdings in TPG Inc. by 31.7%, selling 152,201 shares to maintain ownership of approximately 328,112 shares valued at $15.56 million.
• TPG recently declared a quarterly dividend of $0.59, reflecting an increase from the previous dividend of $0.41, resulting in an annualized yield of 3.7%.
• Analysts have generally positive outlooks on TPG, with multiple upgrades in target prices; the consensus price target is currently set at $62.57.

Neuberger Berman Group LLC reduced its stake in TPG Inc. (NASDAQ:TPG - Free Report) by 31.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,112 shares of the company's stock after selling 152,201 shares during the period. Neuberger Berman Group LLC owned 0.09% of TPG worth $15,562,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of TPG by 74.7% during the fourth quarter. Wells Fargo & Company MN now owns 85,219 shares of the company's stock valued at $5,355,000 after purchasing an additional 36,442 shares in the last quarter. Invesco Ltd. boosted its stake in shares of TPG by 103.7% during the fourth quarter. Invesco Ltd. now owns 656,072 shares of the company's stock valued at $41,228,000 after purchasing an additional 333,973 shares in the last quarter. Legal & General Group Plc lifted its position in TPG by 25.5% during the fourth quarter. Legal & General Group Plc now owns 75,034 shares of the company's stock valued at $4,715,000 after acquiring an additional 15,248 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in TPG in the fourth quarter valued at approximately $615,000. Finally, Treasurer of the State of North Carolina boosted its stake in TPG by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 36,946 shares of the company's stock valued at $2,322,000 after acquiring an additional 230 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at TPG

In related news, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total value of $101,150.72. Following the sale, the director owned 16,807 shares of the company's stock, valued at $946,570.24. This trade represents a 9.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Samantha Holloway sold 21,000,000 shares of the firm's 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 disclosure for this sale can be found here. 76.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on TPG. Wells Fargo & Company lifted their price objective on shares of TPG from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Citigroup lifted their price objective on shares of TPG from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Evercore ISI lifted their price objective on shares of TPG from $52.00 to $60.00 and gave the stock an "in-line" rating in a research note on Friday, August 8th. BNP Paribas Exane upgraded shares of TPG from a "neutral" rating to an "outperform" rating and set a $69.00 price objective for the company in a research note on Wednesday, July 30th. Finally, UBS Group lowered their price objective on shares of TPG from $72.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.57.

TPG Stock Down 1.1%

Shares of TPG traded down $0.69 during midday trading on Friday, reaching $63.48. The stock had a trading volume of 1,861,977 shares, compared to its average volume of 1,932,292. TPG Inc. has a 1-year low of $37.52 and a 1-year high of $72.98. The company's fifty day simple moving average is $55.33 and its two-hundred day simple moving average is $52.11. The company has a market cap of $23.99 billion, a price-to-earnings ratio of -334.11, a PEG ratio of 1.33 and a beta of 1.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.40 and a quick ratio of 0.40.

TPG (NASDAQ:TPG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 earnings per share (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 company had revenue of $495.12 million for the quarter, compared to the consensus estimate of $470.57 million. During the same period last year, the firm posted $0.49 EPS. TPG's revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts expect that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.7%. This is a boost from TPG's previous quarterly dividend of $0.41. The ex-dividend date is Monday, August 18th. TPG's payout ratio is currently -863.16%.

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.