Next Capital Management LLC Buys New Shares in TPG Inc. $TPG

Key Points

• Next Capital Management LLC opened a new position in TPG during the first quarter, buying 25,978 shares valued at about $1.05 million.
• Institutional interest in TPG remains strong, with several funds increasing their stakes and 94.03% of the stock now owned by institutional investors and hedge funds.
• Analysts remain generally positive on TPG, with a Moderate Buy consensus and an average price target of $61.40, while the stock recently traded around $43.74.

Next Capital Management LLC bought a new position in shares of TPG Inc. (NASDAQ:TPG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 25,978 shares of the company's stock, valued at approximately $1,052,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Osaic Holdings Inc. raised its position in TPG by 12.1% in the 2nd quarter. Osaic Holdings Inc. now owns 2,173 shares of the company's stock valued at $114,000 after purchasing an additional 234 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of TPG by 3.1% during the second quarter. Lazard Asset Management LLC now owns 7,828 shares of the company's stock worth $410,000 after buying an additional 238 shares during the period. Strategic Wealth Partners Ltd. increased its stake in shares of TPG by 2.5% during the third quarter. Strategic Wealth Partners Ltd. now owns 10,253 shares of the company's stock worth $589,000 after buying an additional 253 shares during the period. CWM LLC raised its holdings in TPG by 22.2% in the fourth quarter. CWM LLC now owns 1,500 shares of the company's stock valued at $96,000 after acquiring an additional 273 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in TPG by 38.0% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 992 shares of the company's stock valued at $57,000 after acquiring an additional 273 shares in the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on TPG shares. Weiss Ratings upgraded shares of TPG from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday. BMO Capital Markets reduced their price objective on shares of TPG from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Evercore set a $47.00 price objective on shares of TPG in a research report on Tuesday, April 21st. Citizens Jmp lowered their target price on shares of TPG from $75.00 to $68.00 and set a "market outperform" rating for the company in a research note on Thursday, July 9th. Finally, TD Cowen dropped their target price on TPG from $48.00 to $45.00 and set a "hold" rating on the stock in a report on Monday, May 18th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $61.40.

TPG Stock Down 1.0%

Shares of NASDAQ TPG opened at $43.74 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.63. TPG Inc. has a 52-week low of $36.95 and a 52-week high of $70.38. The business has a 50-day moving average price of $41.97 and a 200 day moving average price of $46.82. The stock has a market cap of $16.81 billion, a PE ratio of 198.83, a price-to-earnings-growth ratio of 0.80 and a beta of 1.45.

TPG (NASDAQ:TPG - Get Free Report) last released its quarterly earnings results on Friday, May 1st. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. The firm had revenue of $557.18 million during the quarter, compared to the consensus estimate of $608.07 million. TPG had a net margin of 3.81% and a return on equity of 28.13%. TPG's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. Equities research analysts forecast that TPG Inc. will post 2.85 earnings per share for the current year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were paid a $0.59 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.36 dividend on an annualized basis and a yield of 5.4%. TPG's payout ratio is currently 1,072.73%.

TPG Profile

TPG Inc NASDAQ: TPG is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.

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