Strs Ohio Takes $1.06 Million Position in TPG Inc. $TPG

Key Points

• Strs Ohio acquired 22,289 shares of TPG Inc. valued at approximately $1,057,000 during the first quarter, indicating growing institutional interest in the company.
• TPG recently reported $0.69 earnings per share for the quarter, surpassing the consensus estimate of $0.45, and showing an 8.9% year-over-year revenue growth.
• TPG is increasing its dividend to $0.59 per share, representing an annualized yield of 3.7%, up from the previous quarterly dividend of $0.41.

Strs Ohio bought a new position in shares of TPG Inc. (NASDAQ:TPG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 22,289 shares of the company's stock, valued at approximately $1,057,000.

Other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 worth $1,396,000 after buying an additional 6,267 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of TPG during the 1st quarter valued at about $237,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of TPG by 62.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company's stock worth $360,000 after acquiring an additional 2,913 shares in the last quarter. Cresset Asset Management LLC bought a new position in TPG in the 1st quarter valued at $216,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in TPG by 28.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,201,727 shares of the company's stock valued at $104,428,000 after purchasing an additional 481,418 shares in the last quarter. Institutional investors own 94.03% of the company's stock.

TPG Stock Performance

TPG stock traded down $0.44 during trading hours on Monday, hitting $63.50. 81,617 shares of the stock were exchanged, compared to its average volume of 1,686,841. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45. TPG Inc. has a 12 month low of $37.52 and a 12 month high of $72.98. The firm has a market capitalization of $23.99 billion, a P/E ratio of -334.47, a P/E/G ratio of 1.34 and a beta of 1.56. The company has a 50-day simple moving average of $59.64 and a two-hundred day simple moving average of $52.49.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.24. TPG had a return on equity of 25.79% and a net margin of 1.60%.The firm had revenue of $495.12 million for the quarter, compared to analyst estimates of $470.57 million. During the same period last year, the firm posted $0.49 earnings per share. The business's revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts forecast that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a $0.59 dividend. This is an increase from TPG's previous quarterly dividend of $0.41. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, August 18th. TPG's dividend payout ratio (DPR) is presently -1,242.11%.

Insider Activity at TPG

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total transaction of $101,150.72. Following the sale, the director directly owned 16,807 shares in the company, valued at $946,570.24. This represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 76.48% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Evercore ISI boosted their price objective on TPG from $52.00 to $60.00 and gave the company an "in-line" rating in a report on Friday, August 8th. BNP Paribas raised TPG to a "strong-buy" rating in a research note on Wednesday, July 30th. Wolfe Research assumed coverage on TPG in a report on Friday, June 20th. They issued an "outperform" rating and a $60.00 target price for the company. JPMorgan Chase & Co. increased their target price on TPG from $56.00 to $65.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Zacks Research upgraded TPG from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.57.

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.