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. lowered its holdings in TPG Inc. (NASDAQ:TPG - Free Report) by 34.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 922,873 shares of the company's stock after selling 484,397 shares during the quarter. American Century Companies Inc. owned about 0.25% of TPG worth $43,772,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of TPG. Raymond James Financial Inc. acquired a new position in TPG in the fourth quarter worth $615,000. Mariner LLC boosted its stake in TPG by 16.3% in the fourth quarter. Mariner LLC now owns 4,151 shares of the company's stock worth $261,000 after purchasing an additional 582 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of TPG during the fourth quarter valued at $1,701,000. First Trust Advisors LP lifted its stake in shares of TPG by 86.3% during the fourth quarter. First Trust Advisors LP now owns 854,002 shares of the company's stock valued at $53,665,000 after acquiring an additional 395,491 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of TPG by 3,129.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,005 shares of the company's stock valued at $315,000 after acquiring an additional 4,850 shares during the period. Institutional investors and hedge funds own 94.03% of the company's stock.

Insider Activity

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total value of $101,150.72. Following the completion of the sale, the director directly owned 16,807 shares in the company, valued at $946,570.24. This represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 76.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TPG. The Goldman Sachs Group upped their price target on TPG from $61.00 to $69.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Evercore ISI upped their price target on TPG from $52.00 to $60.00 and gave the company an "in-line" rating in a research note on Friday, August 8th. BNP Paribas raised TPG to a "strong-buy" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. upped their price target on TPG from $56.00 to $65.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, UBS Group cut their price target on TPG from $72.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, TPG has an average rating of "Moderate Buy" and an average target price of $62.57.

TPG Trading Up 1.9%

Shares of TPG stock traded up $1.13 during trading hours on Tuesday, hitting $61.46. The company's stock had a trading volume of 1,082,478 shares, compared to its average volume of 2,047,693. TPG Inc. has a 12 month low of $37.52 and a 12 month high of $72.98. The stock has a 50 day moving average of $56.80 and a 200 day moving average of $52.01. The company has a market capitalization of $23.22 billion, a PE ratio of -323.47, a price-to-earnings-growth ratio of 1.26 and a beta of 1.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.40 and a quick ratio of 0.40.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.24. TPG had a return on equity of 25.79% and a net margin of 1.60%.The company had revenue of $495.12 million during the quarter, compared to the consensus estimate of $470.57 million. During the same period in the prior year, the company earned $0.49 earnings per share. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts predict that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.8%. This is an increase from TPG's previous quarterly dividend of $0.41. The ex-dividend date is Monday, August 18th. TPG's dividend payout ratio is currently -1,242.11%.

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.