TD Asset Management Inc Buys 107,744 Shares of TPG Inc. $TPG

Key Points

• TD Asset Management Inc boosted its stake in TPG Inc. by 72.5%, acquiring an additional 107,744 shares, totaling 256,344 shares worth approximately $13.45 million.
• TPG recently announced a quarterly dividend increase from $0.41 to $0.59 per share, reflecting an annual yield of 4.3%.
• Analysts have set new price targets for TPG, with Citigroup lowering its target to $65.00 while JPMorgan upgraded it to $78.00, indicating mixed investor sentiment.

TD Asset Management Inc increased its stake in TPG Inc. (NASDAQ:TPG - Free Report) by 72.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 256,344 shares of the company's stock after purchasing an additional 107,744 shares during the period. TD Asset Management Inc owned approximately 0.07% of TPG worth $13,445,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Allworth Financial LP increased its position in shares of TPG by 132.3% in the first quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $30,000 after purchasing an additional 369 shares during the last quarter. GAMMA Investing LLC increased its position in shares of TPG by 55.7% in the second quarter. GAMMA Investing LLC now owns 945 shares of the company's stock worth $50,000 after purchasing an additional 338 shares during the last quarter. Parallel Advisors LLC increased its position in shares of TPG by 43.8% in the second quarter. Parallel Advisors LLC now owns 1,380 shares of the company's stock worth $72,000 after purchasing an additional 420 shares during the last quarter. Signaturefd LLC increased its position in shares of TPG by 27.0% in the first quarter. Signaturefd LLC now owns 1,443 shares of the company's stock worth $68,000 after purchasing an additional 307 shares during the last quarter. Finally, Comerica Bank increased 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 purchasing an additional 465 shares during the last quarter. 94.03% of the stock is currently owned by institutional investors.

TPG Stock Performance

Shares of TPG stock opened at $54.90 on Friday. The stock has a fifty day moving average of $59.94 and a 200 day moving average of $53.70. TPG Inc. has a 52 week low of $37.52 and a 52 week high of $72.98. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of -288.95, a PEG ratio of 1.00 and a beta of 1.53. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.45 by $0.24. The business 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%.The company's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 earnings per share. As a group, research analysts expect that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.59 per share. This is an increase from TPG's previous quarterly dividend of $0.41. This represents a $2.36 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, August 18th. TPG's payout ratio is -1,242.11%.

Analysts Set New Price Targets

A number of brokerages have commented on TPG. Citigroup reduced their price target on shares of TPG from $70.00 to $65.00 and set a "buy" rating on the stock in a research report on Monday, October 13th. Evercore ISI increased their price target on shares of TPG from $52.00 to $60.00 and gave the company an "in-line" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. upgraded shares of TPG from a "neutral" rating to an "overweight" rating and increased their price target for the company from $65.00 to $78.00 in a research report on Monday, October 6th. Weiss Ratings reiterated a "hold (c-)" rating on shares of TPG in a research report on Wednesday, October 8th. Finally, Bank of America increased their price target on shares of TPG from $65.00 to $69.00 and gave the company a "buy" rating in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $64.50.

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.

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