Teacher Retirement System of Texas Takes $540,000 Position in TPG Inc. (NASDAQ:TPG)

Teacher Retirement System of Texas bought a new stake in TPG Inc. (NASDAQ:TPG - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,389 shares of the company's stock, valued at approximately $540,000.

A number of other hedge funds also recently added to or reduced their stakes in TPG. Mirae Asset Global Investments Co. Ltd. grew its holdings in TPG by 27.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,250 shares of the company's stock worth $1,396,000 after acquiring an additional 6,267 shares during the period. JPMorgan Chase & Co. grew its stake in TPG by 2,515.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company's stock valued at $104,296,000 after acquiring an additional 1,596,254 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted 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 valued at $360,000 after buying an additional 2,913 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of TPG during the 4th quarter valued at about $615,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of TPG during the 4th quarter valued at about $11,852,000. 94.03% of the stock is currently owned by institutional investors.

TPG Price Performance

Shares of NASDAQ TPG traded up $0.33 during midday trading on Thursday, reaching $56.69. 2,487,318 shares of the company traded hands, compared to its average volume of 1,369,027. The stock's 50-day simple moving average is $51.09 and its 200-day simple moving average is $53.31. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.18 and a current ratio of 0.18. The firm has a market cap of $21.11 billion, a PE ratio of -171.79, a PEG ratio of 1.16 and a beta of 1.55. TPG Inc. has a 12 month low of $37.52 and a 12 month high of $72.98.

TPG (NASDAQ:TPG - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). The business had revenue of $476.26 million for the quarter, compared to the consensus estimate of $459.75 million. TPG had a return on equity of 24.47% and a net margin of 0.90%. TPG's revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 EPS. As a group, equities analysts anticipate that TPG Inc. will post 2.52 earnings per share for the current fiscal 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 dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.89%. The ex-dividend date was Monday, May 19th. TPG's payout ratio is presently -496.97%.

Insider Activity at TPG

In other news, major shareholder Samantha Holloway sold 21,000,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total transaction of $977,970,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 69.98% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TPG shares. Bank of America reduced their price target on TPG from $72.00 to $68.00 and set a "buy" rating for the company in a report on Friday, April 4th. Wolfe Research started coverage on TPG in a report on Friday, June 20th. They set an "outperform" rating and a $60.00 price target for the company. TD Cowen reduced their price target on TPG from $65.00 to $42.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company lifted their price target on TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Citigroup boosted their target price on TPG from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $59.77.

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.