T. Rowe Price Investment Management Inc. Increases Holdings in TPG Inc. $TPG

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in TPG Inc. by 28.0%, acquiring an additional 481,418 shares, bringing its total ownership to approximately 2.2 million shares valued at around $104.43 million.
• TPG has seen various analysts raise their price targets for the stock, with Citigroup setting a new target of $60.00 and JPMorgan Chase raising theirs to $65.00, indicating a consensus rating of "Moderate Buy".
• The company announced a quarterly dividend of $0.59 per share, reflecting a positive increase from the previous dividend of $0.41, and showcasing a yield of 3.9%.

T. Rowe Price Investment Management Inc. lifted its stake in TPG Inc. (NASDAQ:TPG - Free Report) by 28.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,201,727 shares of the company's stock after purchasing an additional 481,418 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.60% of TPG worth $104,428,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of TPG by 132.3% in the first quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $30,000 after purchasing an additional 369 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in shares of TPG in the fourth quarter valued at approximately $67,000. Comerica Bank increased its holdings in shares of TPG by 71.4% in the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock valued at $68,000 after purchasing an additional 450 shares during the last quarter. Versant Capital Management Inc increased its holdings 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 valued at $65,000 after purchasing an additional 1,349 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of TPG by 27.0% in the first quarter. Signaturefd LLC now owns 1,443 shares of the company's stock valued at $68,000 after purchasing an additional 307 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on TPG. Citigroup raised their target price on TPG from $56.00 to $60.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. UBS Group cut their target price on TPG from $72.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wolfe Research began coverage on TPG in a research note on Friday, June 20th. They set an "outperform" rating and a $60.00 target price for the company. Wells Fargo & Company raised their target price on TPG from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Evercore ISI raised their price target on TPG from $52.00 to $60.00 and gave the stock an "in-line" rating in a research report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $62.57.

TPG Stock Up 1.4%

NASDAQ:TPG traded up $0.85 during midday trading on Friday, reaching $60.94. The company had a trading volume of 1,960,831 shares, compared to its average volume of 2,011,393. The firm has a market capitalization of $23.03 billion, a price-to-earnings ratio of -320.74, a PEG ratio of 1.28 and a beta of 1.56. The stock's fifty day simple moving average is $56.34 and its 200-day simple moving average is $51.97. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $72.98. 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 (NASDAQ:TPG - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.24. The firm had revenue of $495.12 million during the quarter, compared to analyst estimates of $470.57 million. TPG had a return on equity of 25.79% and a net margin of 1.60%.TPG's revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. On average, sell-side analysts anticipate 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 will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.9%. This is an increase from TPG's previous quarterly dividend of $0.41. The ex-dividend date is Monday, August 18th. TPG's payout ratio is presently -1,242.11%.

Insider Activity at TPG

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the business'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 transaction, the director owned 16,807 shares in the company, valued at approximately $946,570.24. The trade was a 9.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 76.48% of the company's stock.

TPG Company 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.