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

Richard Bernstein Advisors LLC purchased a new position in shares of TPG Inc. (NASDAQ:TPG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 61,455 shares of the company's stock, valued at approximately $2,915,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of TPG by 27.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,250 shares of the company's stock valued at $1,396,000 after purchasing an additional 6,267 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of TPG by 2,515.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company's stock valued at $104,296,000 after purchasing an additional 1,596,254 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of TPG by 62.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company's stock valued at $360,000 after purchasing an additional 2,913 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of TPG in the 4th quarter valued at approximately $615,000. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of TPG in the 4th quarter valued at approximately $11,852,000. 94.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TPG has been the subject of a number of research analyst reports. Morgan Stanley reiterated an "equal weight" rating and issued a $47.00 price target (down from $80.00) on shares of TPG in a report on Monday, April 14th. Wolfe Research initiated coverage on TPG in a report on Friday, June 20th. They issued an "outperform" rating and a $60.00 price target for the company. The Goldman Sachs Group lowered their price target on TPG from $70.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. TD Cowen lowered their price target on TPG from $65.00 to $42.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, Citigroup boosted their price target on TPG from $56.00 to $60.00 and gave the company a "buy" rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, TPG currently has a consensus rating of "Moderate Buy" and an average target price of $59.77.

Insider Buying and Selling at TPG

In other news, major shareholder Samantha Holloway sold 21,000,000 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total transaction of $977,970,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 69.98% of the stock is currently owned by company insiders.

TPG Stock Performance

TPG stock traded down $0.35 during trading on Friday, reaching $55.64. 1,384,019 shares of the company's stock were exchanged, compared to its average volume of 1,358,742. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.42. The firm has a market cap of $20.56 billion, a PE ratio of -168.61, a P/E/G ratio of 1.20 and a beta of 1.55. The company's fifty day moving average price is $50.55 and its 200-day moving average price is $53.50. TPG Inc. has a 1-year low of $37.52 and a 1-year high of $72.98.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $459.75 million. TPG had a net margin of 0.90% and a return on equity of 24.47%. The company's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.49 EPS. On average, research analysts expect that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders 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 2.95%. TPG's dividend payout ratio (DPR) is -496.97%.

TPG Profile

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.