Public Employees Retirement System of Ohio Makes New Investment in TPG Inc. $TPG

Key Points

• Public Employees Retirement System of Ohio bought 42,420 shares of TPG worth approximately $1.72 million in the second quarter. Institutional investors and hedge funds collectively own 94.03% of the company.
• Analysts maintain a generally positive outlook, with 13 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $63.33.
• TPG exceeded quarterly earnings expectations, reporting $0.69 in EPS and $628.19 million in revenue, while paying a quarterly dividend of $0.59, equivalent to a 4.5% annualized yield.

Public Employees Retirement System of Ohio bought a new position in TPG Inc. (NASDAQ:TPG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,420 shares of the company's stock, valued at approximately $1,720,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Darlington Partners Capital Management LP bought a new stake in shares of TPG during the 2nd quarter worth $258,581,000. Jackson Brooke LLC acquired a new position in TPG in the 2nd quarter valued at approximately $92,395,080. Millennium Management LLC lifted its holdings in shares of TPG by 66.9% during the 4th quarter. Millennium Management LLC now owns 4,584,733 shares of the company's stock valued at $292,689,000 after buying an additional 1,837,799 shares during the last quarter. Norges Bank bought a new stake in TPG in the fourth quarter worth $106,755,000. Finally, Bank of America Corp DE boosted its position in TPG by 72.7% during the third quarter. Bank of America Corp DE now owns 3,567,626 shares of the company's stock worth $204,960,000 after purchasing an additional 1,501,808 shares during the period. 94.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TPG shares. Wall Street Zen raised TPG from a "sell" rating to a "hold" rating in a research report on Sunday, July 26th. Royal Bank Of Canada lifted their price target on shares of TPG from $60.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Barclays boosted their price objective on TPG from $58.00 to $64.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 5th. Evercore set a $50.00 price target on shares of TPG in a research note on Wednesday, August 5th. Finally, Citigroup reiterated an "outperform" rating on shares of TPG in a research report on Thursday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $63.33.

TPG Price Performance

NASDAQ TPG opened at $52.65 on Monday. TPG Inc. has a 52-week low of $36.95 and a 52-week high of $70.38. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.31 and a current ratio of 0.31. The business has a 50 day simple moving average of $47.05 and a 200 day simple moving average of $43.84. The stock has a market cap of $20.23 billion, a price-to-earnings ratio of 79.77, a PEG ratio of 0.88 and a beta of 1.47.

TPG (NASDAQ:TPG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. The business had revenue of $628.19 million for the quarter, compared to analysts' expectations of $596.79 million. TPG had a net margin of 4.67% and a return on equity of 28.10%. The firm's revenue was up 23.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. Analysts anticipate that TPG Inc. will post 2.88 earnings per share for the current fiscal year.

TPG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, August 14th. TPG's payout ratio is currently 357.58%.

About TPG

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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