TPG Inc. $TPG Shares Purchased by Clear Harbor Asset Management LLC

Key Points

• Clear Harbor Asset Management LLC increased its stake in TPG Inc. by 38.8% during the second quarter, holding 76,985 shares valued at approximately $4 million.
• TPG has recently increased its quarterly dividend to $0.59 per share, a significant rise from the previous $0.41, marking an annual yield of 3.7%.
• Analysts are generally optimistic about TPG, with a consensus rating of "Moderate Buy" and a target price of $62.57, following upgrades from multiple research firms.

Clear Harbor Asset Management LLC lifted its stake in TPG Inc. (NASDAQ:TPG - Free Report) by 38.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,985 shares of the company's stock after purchasing an additional 21,522 shares during the quarter. Clear Harbor Asset Management LLC's holdings in TPG were worth $4,038,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in TPG by 69.1% during the first quarter. Wellington Management Group LLP now owns 10,693,179 shares of the company's stock worth $507,177,000 after acquiring an additional 4,369,618 shares during the last quarter. Vanguard Group Inc. boosted its holdings in TPG by 12.5% in the first quarter. Vanguard Group Inc. now owns 9,303,272 shares of the company's stock valued at $441,254,000 after purchasing an additional 1,037,225 shares during the period. Temasek Holdings Private Ltd raised its stake in TPG by 114.2% in the first quarter. Temasek Holdings Private Ltd now owns 8,529,631 shares of the company's stock valued at $404,560,000 after buying an additional 4,548,452 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in TPG by 18.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,669,590 shares of the company's stock valued at $126,619,000 after buying an additional 416,520 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its stake in TPG by 28.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,201,727 shares of the company's stock valued at $104,428,000 after buying an additional 481,418 shares in the last quarter. Institutional investors and hedge funds own 94.03% of the company's stock.

TPG Price Performance

TPG stock opened at $63.94 on Monday. The stock's 50 day moving average price is $59.64 and its 200 day moving average price is $52.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $24.16 billion, a P/E ratio of -336.53, a PEG ratio of 1.34 and a beta of 1.56. TPG Inc. has a 1 year low of $37.52 and a 1 year high of $72.98.

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

TPG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were given a dividend of $0.59 per share. This is a positive change from TPG's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.36 dividend on an annualized basis and a yield of 3.7%. TPG's dividend payout ratio is currently -1,242.11%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TPG. BNP Paribas upgraded TPG to a "strong-buy" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group lifted their target price on TPG from $61.00 to $69.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Zacks Research upgraded TPG from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 8th. Wolfe Research assumed coverage on TPG in a research report on Friday, June 20th. They set an "outperform" rating and a $60.00 target price on the stock. Finally, Citigroup boosted their price target on TPG from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.57.

Insiders Place Their Bets

In related news, Director Deborah M. Messemer sold 1,796 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total transaction of $101,150.72. Following the completion of the sale, the director directly owned 16,807 shares of the company's stock, valued at approximately $946,570.24. This represents a 9.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 76.48% of the company's stock.

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.

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