Northern Trust Corp Has $19.72 Million Stock Position in TPG Inc. $TPG

Northern Trust Corp lowered its stake in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 22.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 415,726 shares of the company's stock after selling 118,761 shares during the period. Northern Trust Corp owned 0.11% of TPG worth $19,718,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TPG. Allworth Financial LP increased its stake in TPG by 132.3% during the first quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $30,000 after acquiring an additional 369 shares during the last quarter. Versant Capital Management Inc grew its position in shares of TPG by 12,263.6% during the first quarter. Versant Capital Management Inc now owns 1,360 shares of the company's stock worth $65,000 after buying an additional 1,349 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new stake in TPG during the 4th quarter worth about $67,000. Comerica Bank boosted its holdings in TPG by 71.4% in the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock valued at $68,000 after purchasing an additional 450 shares in the last quarter. Finally, Signaturefd LLC raised its stake in TPG by 27.0% during the 1st quarter. Signaturefd LLC now owns 1,443 shares of the company's stock worth $68,000 after acquiring an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BNP Paribas Exane upgraded 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. The Goldman Sachs Group raised their price objective on shares of TPG from $61.00 to $69.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of TPG from $56.00 to $65.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Wells Fargo & Company lifted their price objective on TPG from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Wolfe Research began coverage on TPG in a report on Friday, June 20th. They issued an "outperform" rating and a $60.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, TPG presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.57.

TPG Stock Down 1.3%

Shares of TPG stock traded down $0.76 during mid-day trading on Wednesday, reaching $58.13. 1,763,593 shares of the company were exchanged, compared to its average volume of 1,879,388. The company has a market capitalization of $21.97 billion, a P/E ratio of -305.95, a P/E/G ratio of 1.26 and a beta of 1.56. The business's 50 day simple moving average is $57.89 and its 200 day simple moving average is $52.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.40. 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 released its earnings results on Wednesday, August 6th. The company reported $0.69 EPS for the quarter, beating 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 firm had revenue of $495.12 million for the quarter, compared to analysts' expectations of $470.57 million. During the same quarter last year, the company earned $0.49 EPS. TPG's quarterly revenue was up 8.9% on a year-over-year basis. Research analysts predict that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were given a dividend of $0.59 per share. This is an increase from TPG's previous quarterly dividend of $0.41. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, August 18th. TPG's dividend payout ratio (DPR) is currently -1,242.11%.

Insider Transactions at TPG

In other news, Director Deborah M. Messemer sold 1,796 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total value of $101,150.72. Following the sale, the director directly owned 16,807 shares in the company, valued at approximately $946,570.24. This represents a 9.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 76.48% of the stock is owned by company insiders.

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.