TD Asset Management Inc Purchases 29,800 Shares of TPG Inc. (NASDAQ:TPG)

Key Points

• TD Asset Management Inc increased its holdings in TPG Inc. by 25.1% during the first quarter, owning approximately 148,600 shares worth $7,048,000.
• TPG reported a quarterly earnings per share of $0.48, missing estimates by $0.02, with revenue of $476.26 million, surpassing analyst expectations.
• Major shareholder Samantha Holloway sold 21 million shares of TPG stock, amounting to nearly $977.97 million at an average price of $46.57 per share.

TD Asset Management Inc grew its holdings in TPG Inc. (NASDAQ:TPG - Free Report) by 25.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 148,600 shares of the company's stock after purchasing an additional 29,800 shares during the period. TD Asset Management Inc's holdings in TPG were worth $7,048,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Allworth Financial LP grew its stake in 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 in the last quarter. Versant Capital Management Inc raised its position in TPG by 12,263.6% during the first quarter. Versant Capital Management Inc now owns 1,360 shares of the company's stock valued at $65,000 after acquiring an additional 1,349 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of TPG during the 4th quarter valued at $67,000. Comerica Bank boosted its holdings in TPG by 71.4% in the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock worth $68,000 after purchasing an additional 450 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of TPG by 27.0% during the 1st quarter. Signaturefd LLC now owns 1,443 shares of the company's stock valued at $68,000 after acquiring an additional 307 shares during the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

TPG Trading Up 0.4%

Shares of NASDAQ:TPG traded up $0.25 during mid-day trading on Tuesday, hitting $57.39. The company had a trading volume of 500,679 shares, compared to its average volume of 1,660,034. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.18 and a quick ratio of 0.18. TPG Inc. has a one year low of $37.52 and a one year high of $72.98. The firm has a fifty day moving average price of $52.92 and a 200 day moving average price of $52.48. The company has a market capitalization of $21.37 billion, a PE ratio of -173.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.56.

TPG (NASDAQ:TPG - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). TPG had a return on equity of 24.47% and a net margin of 0.90%. The firm had revenue of $476.26 million during the quarter, compared to the consensus estimate of $459.75 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. TPG's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, research analysts forecast that TPG Inc. will post 2.52 EPS for the current year.

TPG Cuts Dividend

The firm also recently announced 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 2.9%. TPG's dividend payout ratio is currently -496.97%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. TD Cowen dropped their price objective on TPG from $65.00 to $42.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Wolfe Research assumed coverage on shares of TPG in a report on Friday, June 20th. They set an "outperform" rating and a $60.00 price objective on the stock. BNP Paribas Exane upgraded TPG from a "neutral" rating to an "outperform" rating and set a $69.00 price target on the stock in a research note on Wednesday, July 30th. Citigroup lifted their price objective on TPG from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Finally, Evercore ISI upped their target price on TPG from $49.00 to $52.00 and gave the company an "in-line" rating in a research note on Thursday, July 10th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.43.

Insider Activity at TPG

In other news, major shareholder Samantha Holloway sold 21,000,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total transaction of $977,970,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Deborah M. Messemer sold 1,796 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total value of $101,150.72. Following the transaction, the director directly owned 16,807 shares in the company, valued at $946,570.24. This represents a 9.65% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 69.98% of the company's stock.

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.