Richard Bernstein Advisors LLC Invests $2.92 Million in TPG Inc. (NASDAQ:TPG)

Richard Bernstein Advisors LLC bought a new position in TPG Inc. (NASDAQ:TPG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 61,455 shares of the company's stock, valued at approximately $2,915,000.

Other hedge funds have also recently modified their holdings of the company. Fourth Dimension Wealth LLC purchased a new stake in shares of TPG in the fourth quarter worth about $67,000. Comerica Bank boosted its stake in shares of TPG by 71.4% in the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock worth $68,000 after buying an additional 450 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of TPG by 12,263.6% in 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 during the last quarter. Stifel Financial Corp purchased a new stake in shares of TPG in the fourth quarter worth about $206,000. Finally, Baker Avenue Asset Management LP purchased a new stake in shares of TPG in the fourth quarter worth about $220,000. Hedge funds and other institutional investors own 94.03% of the company's stock.

Insider Activity at TPG

In related news, major shareholder Samantha Holloway sold 21,000,000 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total value of $977,970,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 69.98% of the company's stock.

TPG Stock Performance

NASDAQ TPG opened at $52.99 on Tuesday. The company has a market cap of $19.58 billion, a PE ratio of -160.58, a price-to-earnings-growth ratio of 1.14 and a beta of 1.55. The stock's 50 day simple moving average is $49.92 and its 200-day simple moving average is $53.61. TPG Inc. has a 1-year low of $37.52 and a 1-year high of $72.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.18 and a quick ratio of 0.18.

TPG (NASDAQ:TPG - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $476.26 million during the quarter, compared to analysts' expectations of $459.75 million. TPG had a net margin of 0.90% and a return on equity of 24.47%. The business's revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS. As a group, equities research analysts anticipate that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $0.41 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.64 annualized dividend and a dividend yield of 3.09%. TPG's dividend payout ratio is presently -496.97%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. TD Cowen lowered their target price on TPG from $65.00 to $42.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Citigroup lowered their price target on TPG from $72.00 to $56.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company increased their price target on TPG from $56.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Morgan Stanley reiterated an "equal weight" rating and set a $47.00 price target (down previously from $80.00) on shares of TPG in a research report on Monday, April 14th. Finally, Bank of America lowered their price target on TPG from $72.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.23.

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.

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