American Century Companies Inc. Sells 484,397 Shares of TPG Inc. $TPG

Key Points

• American Century Companies Inc. reduced its stake in TPG Inc. by 34.4%, now owning approximately 0.25% of the company worth $43.77 million after selling 484,397 shares.
• TPG recently declared a boosted quarterly dividend of $0.59, representing a 4.0% yield, with an ex-dividend date set for August 18th.
• Analysts have provided optimistic ratings for TPG, with a consensus rating of "Moderate Buy" and an average target price of $62.57.

American Century Companies Inc. lessened its position in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 34.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 922,873 shares of the company's stock after selling 484,397 shares during the period. American Century Companies Inc. owned approximately 0.25% of TPG worth $43,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of TPG during the 1st quarter worth approximately $237,000. Russell Investments Group Ltd. increased its position in TPG by 25.8% during the 1st quarter. Russell Investments Group Ltd. now owns 15,186 shares of the company's stock worth $720,000 after purchasing an additional 3,110 shares in the last quarter. Nuveen LLC acquired a new position in TPG during the 1st quarter worth approximately $8,845,000. Entropy Technologies LP acquired a new position in TPG during the 1st quarter worth approximately $603,000. Finally, Frank Rimerman Advisors LLC increased its position in TPG by 38.7% during the 1st quarter. Frank Rimerman Advisors LLC now owns 13,757 shares of the company's stock worth $652,000 after purchasing an additional 3,835 shares in the last quarter. Institutional investors own 94.03% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TPG. Evercore ISI upped their price target on shares of TPG from $52.00 to $60.00 and gave the company an "in-line" rating in a research report on Friday, August 8th. The Goldman Sachs Group increased their price objective on shares of TPG from $61.00 to $69.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their target price on shares of TPG from $56.00 to $65.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. BNP Paribas raised shares of TPG to a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company increased their target price on shares of TPG from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $62.57.

TPG Stock Performance

NASDAQ TPG traded up $0.85 during trading hours on Friday, reaching $60.94. 1,960,831 shares of the company were exchanged, compared to its average volume of 1,956,324. TPG Inc. has a 1 year low of $37.52 and a 1 year high of $72.98. The business's 50 day simple moving average is $56.34 and its 200-day simple moving average is $52.05. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $23.03 billion, a P/E ratio of -320.74, a P/E/G ratio of 1.28 and a beta of 1.56.

TPG (NASDAQ:TPG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.24. TPG had a net margin of 1.60% and a return on equity of 25.79%. The business had revenue of $495.12 million during the quarter, compared to the consensus estimate of $470.57 million. During the same quarter last year, the company posted $0.49 earnings per share. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts expect that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a $0.59 dividend. The ex-dividend date is Monday, August 18th. This is a positive change from TPG's previous quarterly dividend of $0.41. This represents a $2.36 annualized dividend and a dividend yield of 3.9%. TPG's dividend payout ratio is -1,242.11%.

Insider Buying and Selling at TPG

In other news, Director Deborah M. Messemer sold 1,796 shares of TPG stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total value of $101,150.72. Following the completion of the transaction, the director owned 16,807 shares in the company, valued at $946,570.24. This trade represents a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 69.98% of the stock is owned by insiders.

About TPG

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.