Voloridge Investment Management LLC Cuts Stock Position in TPG Inc. (NASDAQ:TPG)

Voloridge Investment Management LLC reduced its position in TPG Inc. (NASDAQ:TPG - Free Report) by 24.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 380,036 shares of the company's stock after selling 122,818 shares during the period. Voloridge Investment Management LLC owned 0.10% of TPG worth $23,881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPG. Comerica Bank raised its stake in 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 buying an additional 450 shares during the last quarter. R Squared Ltd acquired a new position in shares of TPG during the fourth quarter valued at about $97,000. Stifel Financial Corp purchased a new position in shares of TPG in the 4th quarter valued at approximately $206,000. Baker Avenue Asset Management LP purchased a new position in shares of TPG in the 4th quarter valued at approximately $220,000. Finally, Focus Partners Wealth acquired a new stake in TPG in the 4th quarter worth approximately $228,000. Hedge funds and other institutional investors own 94.03% of the company's stock.

TPG Stock Performance

Shares of NASDAQ TPG traded up $1.41 during trading on Tuesday, reaching $48.40. 809,335 shares of the company traded hands, compared to its average volume of 1,236,414. The stock has a market cap of $17.88 billion, a P/E ratio of -110.08, a PEG ratio of 0.80 and a beta of 1.58. The firm's fifty day simple moving average is $46.97 and its 200 day simple moving average is $57.26. The company has a current ratio of 0.18, a quick ratio of 0.25 and a debt-to-equity ratio of 0.36. 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 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). TPG had a return on equity of 24.66% and a net margin of 0.67%. The company had revenue of $476.26 million for the quarter, compared to analyst estimates of $459.75 million. During the same period last year, the business earned $0.49 earnings per share. The firm's revenue was up 6.1% on a year-over-year basis. As a group, research analysts anticipate that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Monday, May 19th. TPG's dividend payout ratio (DPR) is -496.97%.

Insider Activity

In other news, General Counsel Bradford Berenson sold 2,509 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total transaction of $125,550.36. Following the sale, the general counsel now directly owns 290,841 shares of the company's stock, valued at $14,553,683.64. This represents a 0.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 69.98% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of TPG from $56.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday. Citigroup cut their target price on TPG from $72.00 to $56.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. UBS Group reduced 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. Bank of America dropped their price target on TPG from $72.00 to $68.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. Finally, JMP Securities reissued a "market perform" rating on shares of TPG in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $60.25.

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.