Richard Bernstein Advisors LLC Has $1.57 Million Stock Holdings in TPG Inc. $TPG

Key Points

• Richard Bernstein Advisors LLC cut its stake in TPG by 55.6% in Q3, selling 34,179 shares and ending the quarter with 27,276 shares valued at about $1.57 million.
• TPG beat quarterly expectations, reporting $0.85 EPS vs. $0.65 consensus and $1.49 billion in revenue (vs. $548.4M expected), with revenue up 35.6% year-over-year.
• TPG raised its quarterly dividend to $0.61 (annualized $2.44) for a ~5.8% yield, although the dividend payout ratio is very high at 554.55%.

Richard Bernstein Advisors LLC decreased its stake in TPG Inc. (NASDAQ:TPG - Free Report) by 55.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,276 shares of the company's stock after selling 34,179 shares during the period. Richard Bernstein Advisors LLC's holdings in TPG were worth $1,567,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC lifted its stake in shares of TPG by 19.5% in the 3rd quarter. CWM LLC now owns 1,227 shares of the company's stock valued at $70,000 after acquiring an additional 200 shares during the last quarter. Osaic Holdings Inc. grew its position in TPG by 12.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,173 shares of the company's stock worth $114,000 after acquiring an additional 234 shares during the last quarter. Lazard Asset Management LLC increased its holdings in TPG by 3.1% in the 2nd quarter. Lazard Asset Management LLC now owns 7,828 shares of the company's stock worth $410,000 after purchasing an additional 238 shares in the last quarter. Capital International Inc. CA boosted its stake in shares of TPG by 2.8% during the third quarter. Capital International Inc. CA now owns 10,992 shares of the company's stock valued at $631,000 after purchasing an additional 303 shares in the last quarter. Finally, Apollon Wealth Management LLC boosted its position in TPG by 2.3% during the 3rd quarter. Apollon Wealth Management LLC now owns 15,244 shares of the company's stock worth $876,000 after buying an additional 337 shares during the period. Institutional investors and hedge funds own 94.03% of the company's stock.

TPG Stock Down 1.1%

Shares of TPG stock opened at $42.23 on Wednesday. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $70.38. The company has a market cap of $16.22 billion, a P/E ratio of 95.98, a PEG ratio of 0.60 and a beta of 1.55. The company's fifty day simple moving average is $55.40 and its two-hundred day simple moving average is $58.07. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.42.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.20. The business had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $548.40 million. TPG had a net margin of 3.95% and a return on equity of 26.02%. The business's revenue was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. Research analysts anticipate that TPG Inc. will post 2.52 EPS for the current year.

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Thursday, February 19th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 5.8%. This is an increase from TPG's previous quarterly dividend of $0.45. The ex-dividend date was Thursday, February 19th. TPG's dividend payout ratio (DPR) is 554.55%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TPG shares. Morgan Stanley set a $67.00 price objective on shares of TPG in a research report on Tuesday, January 27th. Citigroup upgraded shares of TPG to an "outperform" rating in a report on Monday, February 9th. Citizens Jmp upgraded TPG from a "market perform" rating to an "outperform" rating and set a $75.00 price objective for the company in a research note on Monday, February 9th. The Goldman Sachs Group restated a "buy" rating and set a $80.00 price target on shares of TPG in a research note on Tuesday, January 6th. Finally, UBS Group lowered their price objective on TPG from $83.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, TPG has an average rating of "Moderate Buy" and an average price target of $66.80.

TPG Company 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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