Border to Coast Pensions Partnership Ltd increased its stake in TPG Inc. (NASDAQ:TPG - Free Report) by 142.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 315,000 shares of the company's stock after buying an additional 185,000 shares during the period. Border to Coast Pensions Partnership Ltd owned about 0.09% of TPG worth $14,940,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in TPG by 2,515.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company's stock worth $104,296,000 after acquiring an additional 1,596,254 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of TPG during the fourth quarter valued at approximately $615,000. Lighthouse Investment Partners LLC acquired a new stake in shares of TPG during the 4th quarter worth approximately $11,852,000. Keystone Investors PTE Ltd. bought a new stake in shares of TPG in the 4th quarter worth approximately $12,705,000. Finally, Norges Bank bought a new stake in shares of TPG in the 4th quarter worth approximately $100,675,000. 94.03% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. Wolfe Research started coverage on shares of TPG in a research note on Friday, June 20th. They issued an "outperform" rating and a $60.00 price target on the stock. Bank of America lowered their target price on TPG from $72.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Citigroup cut their target price on TPG from $72.00 to $56.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company boosted their price target on TPG from $56.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Finally, TD Cowen lowered their price target on TPG from $65.00 to $42.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.23.
Check Out Our Latest Stock Analysis on TPG
Insider Activity at TPG
In related news, major shareholder Samantha Holloway sold 21,000,000 shares of TPG stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total value of $977,970,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 69.98% of the stock is currently owned by insiders.
TPG Price Performance
Shares of NASDAQ TPG opened at $52.82 on Friday. The company has a market capitalization of $19.52 billion, a PE ratio of -160.06, a P/E/G ratio of 1.10 and a beta of 1.55. The firm has a fifty day simple moving average of $48.72 and a 200 day simple moving average of $54.43. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.42. TPG Inc. has a twelve month low of $37.52 and a twelve month high of $72.98.
TPG (NASDAQ:TPG - Get Free Report) last posted 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 firm 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 EPS. On average, sell-side analysts forecast that TPG Inc. will post 2.52 EPS for the current year.
TPG Cuts Dividend
The firm also recently disclosed 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 3.10%. The ex-dividend date was Monday, May 19th. TPG's payout ratio is -496.97%.
TPG Profile
(
Free Report)
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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