Squarepoint Ops LLC Trims Holdings in TPG Inc. $TPG

Key Points

• Squarepoint Ops LLC reduced its TPG holdings by 12.7% in the second quarter, selling 74,520 shares and retaining 511,356 shares valued at approximately $20.7 million. Institutional investors collectively own 94.03% of TPG.
• TPG reported quarterly earnings of $0.69 per share, exceeding estimates by $0.10, while revenue rose 23.9% year over year to $628.19 million.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $63.33. TPG also declared a $0.59 quarterly dividend, representing a 4.6% annualized yield.

Squarepoint Ops LLC cut its holdings in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 12.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 511,356 shares of the company's stock after selling 74,520 shares during the quarter. Squarepoint Ops LLC owned 0.13% of TPG worth $20,735,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TPG. Comerica Bank raised its position in shares of TPG by 43.1% in the first quarter. Comerica Bank now owns 1,545 shares of the company's stock worth $73,000 after acquiring an additional 465 shares during the period. Royal Bank of Canada increased its stake in shares of TPG by 86.3% in the 1st quarter. Royal Bank of Canada now owns 7,901 shares of the company's stock valued at $375,000 after purchasing an additional 3,659 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in TPG by 4,109.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company's stock worth $27,083,000 after purchasing an additional 557,438 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in TPG by 156.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company's stock worth $22,941,000 after purchasing an additional 294,941 shares during the period. Finally, Cetera Investment Advisers purchased a new position in TPG during the second quarter worth approximately $216,000. 94.03% of the stock is owned by hedge funds and other institutional investors.

TPG Trading Down 3.3%

TPG opened at $50.91 on Wednesday. The business's 50 day moving average price is $47.53 and its 200 day moving average price is $43.90. 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 stock has a market capitalization of $19.57 billion, a PE ratio of 77.14, a P/E/G ratio of 0.88 and a beta of 1.47. TPG Inc. has a one year low of $36.95 and a one year high of $70.38.

TPG (NASDAQ:TPG - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. The company had revenue of $628.19 million during the quarter, compared to analyst estimates of $596.79 million. TPG had a net margin of 4.67% and a return on equity of 28.10%. TPG's revenue was up 23.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.69 earnings per share. As a group, equities research analysts expect that TPG Inc. will post 2.88 EPS for the current year.

TPG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.59 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.36 annualized dividend and a dividend yield of 4.6%. TPG's payout ratio is 357.58%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TPG. Citigroup restated an "outperform" rating on shares of TPG in a research report on Thursday, July 9th. Barclays lifted their price target on shares of TPG from $58.00 to $64.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Keefe, Bruyette & Woods lifted their target price on shares of TPG from $53.00 to $57.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of TPG from a "sell (d+)" rating to a "hold (c)" rating in a research note on Thursday, August 13th. Finally, TD Cowen upgraded TPG from a "hold" rating to a "buy" rating and set a $64.00 price objective for the company in a research note on Thursday, August 6th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.33.

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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