TPG Inc. $TPG Holdings Lifted by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its TPG stake by 410.7% in the second quarter, bringing its holdings to 401,268 shares valued at approximately $16.3 million. Institutional investors collectively own 94.03% of TPG.
• Analysts maintain a generally positive outlook, with 13 Buy, three Hold and one Sell rating; the consensus is “Moderate Buy” with a $63.33 price target.
• TPG exceeded quarterly expectations, reporting $0.69 in earnings per share and $628.2 million in revenue, up 23.9% year over year. The company also declared a quarterly dividend of $0.59 per share, implying a 4.8% annualized yield.

Assenagon Asset Management S.A. boosted its holdings in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 410.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 401,268 shares of the company's stock after buying an additional 322,701 shares during the period. Assenagon Asset Management S.A. owned approximately 0.10% of TPG worth $16,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of TPG. Darlington Partners Capital Management LP purchased a new position in TPG during the 2nd quarter valued at about $258,581,000. Millennium Management LLC boosted its holdings in shares of TPG by 66.9% during the fourth quarter. Millennium Management LLC now owns 4,584,733 shares of the company's stock worth $292,689,000 after purchasing an additional 1,837,799 shares during the period. Norges Bank purchased a new position in TPG during the fourth quarter valued at approximately $106,755,000. Bank of America Corp DE grew its position in TPG by 72.7% during the third quarter. Bank of America Corp DE now owns 3,567,626 shares of the company's stock valued at $204,960,000 after purchasing an additional 1,501,808 shares in the last quarter. Finally, Temasek Holdings Private Ltd grew its position in TPG by 14.1% during the first quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company's stock valued at $406,239,000 after purchasing an additional 1,236,526 shares in the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TPG. Morgan Stanley cut their target price on shares of TPG from $60.00 to $54.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of TPG from a "sell" rating to a "hold" rating in a report on Sunday, July 26th. BMO Capital Markets dropped their price target on shares of TPG from $52.00 to $50.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. Keefe, Bruyette & Woods increased their price objective on TPG from $53.00 to $57.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Finally, Citigroup reissued an "outperform" rating on shares of TPG in a research report on Thursday, July 9th. Thirteen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $63.33.

TPG Price Performance

NASDAQ TPG opened at $49.40 on Tuesday. TPG Inc. has a fifty-two week low of $36.95 and a fifty-two week high of $70.38. The stock's 50-day moving average is $42.86 and its two-hundred day moving average is $44.31. The firm has a market cap of $18.98 billion, a P/E ratio of 74.85, a price-to-earnings-growth ratio of 0.86 and a beta of 1.44. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.31 and a quick ratio of 0.31.

TPG (NASDAQ:TPG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. The business had revenue of $628.19 million for the quarter, compared to analyst estimates of $596.79 million. TPG had a return on equity of 28.10% and a net margin of 4.67%.The firm's revenue for the quarter was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 EPS. On average, analysts anticipate that TPG Inc. will post 2.85 earnings per share for the current fiscal year.

TPG Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Friday, August 14th. TPG's payout ratio is presently 357.58%.

TPG Company Profile

TPG Inc NASDAQ: TPG is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.

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