Petrus Trust Company LTA Buys Shares of 4,330 TPG Inc. $TPG

Key Points

• Petrus Trust Company LTA has acquired a new stake in TPG Inc. worth approximately $205,000, purchasing 4,330 shares in the first quarter.
• Several hedge funds have increased their holdings in TPG, with institutional investors now owning 94.03% of the company's stock.
• TPG recently raised its quarterly dividend from $0.41 to $0.59 per share, reflecting a positive change for stockholders.

Petrus Trust Company LTA bought a new position in shares of TPG Inc. (NASDAQ:TPG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,330 shares of the company's stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of TPG by 27.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,250 shares of the company's stock worth $1,396,000 after purchasing an additional 6,267 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new stake in TPG during the 1st quarter worth $237,000. Sumitomo Mitsui Trust Group Inc. boosted its position in TPG by 62.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company's stock worth $360,000 after purchasing an additional 2,913 shares during the period. Cresset Asset Management LLC purchased a new stake in TPG during the 1st quarter worth $216,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in TPG by 28.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,201,727 shares of the company's stock valued at $104,428,000 after buying an additional 481,418 shares during the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

TPG Stock Performance

TPG stock traded down $0.80 during trading hours on Friday, reaching $61.29. The stock had a trading volume of 822,198 shares, compared to its average volume of 1,564,066. The stock has a 50-day simple moving average of $58.81 and a 200 day simple moving average of $52.14. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $23.16 billion, a PE ratio of -322.58, a price-to-earnings-growth ratio of 1.30 and a beta of 1.56. 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 posted its earnings results on Wednesday, August 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.24. The company had revenue of $495.12 million during the quarter, compared to analysts' expectations of $470.57 million. TPG had a net margin of 1.60% and a return on equity of 25.79%. TPG's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.49 EPS. Analysts predict that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a dividend of $0.59 per share. The ex-dividend date was Monday, August 18th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from TPG's previous quarterly dividend of $0.41. TPG's dividend payout ratio is -1,242.11%.

Insider Buying and Selling

In related news, Director Deborah M. Messemer sold 1,796 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total transaction of $101,150.72. Following the transaction, the director directly owned 16,807 shares of the company's stock, valued at approximately $946,570.24. This trade represents a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 69.98% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TPG shares. Zacks Research upgraded shares of TPG from a "hold" rating to a "strong-buy" rating in a research note on Monday. Wells Fargo & Company upped their price target on shares of TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. BNP Paribas raised shares of TPG to a "strong-buy" rating in a research note on Wednesday, July 30th. The Goldman Sachs Group raised their price target on shares of TPG from $61.00 to $69.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Finally, BNP Paribas Exane upgraded shares of TPG from a "neutral" rating to an "outperform" rating and set a $69.00 target price on the stock in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $62.57.

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.