TPG Inc. $TPG Stake Increased by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its TPG Inc. holdings by 52.2% in the second quarter, making its total investment worth $2.14 million.
• TPG recently announced a quarterly dividend increase to $0.59 per share, up from $0.41, reflecting a healthy 4.2% dividend yield.
• Analysts have upgraded TPG's stock ratings, with target prices increasing to as high as $69.00, indicating strong market confidence.

Public Employees Retirement System of Ohio grew its holdings in TPG Inc. (NASDAQ:TPG - Free Report) by 52.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,825 shares of the company's stock after purchasing an additional 13,998 shares during the period. Public Employees Retirement System of Ohio's holdings in TPG were worth $2,141,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TPG. Ameriprise Financial Inc. purchased a new stake in shares of TPG during the fourth quarter worth $236,000. Two Sigma Advisers LP purchased a new stake in shares of TPG during the fourth quarter worth $270,000. Versant Capital Management Inc raised its holdings in shares of TPG by 12,263.6% during the first quarter. Versant Capital Management Inc now owns 1,360 shares of the company's stock worth $65,000 after acquiring an additional 1,349 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of TPG by 5,612.3% during the first quarter. GAMMA Investing LLC now owns 28,790 shares of the company's stock worth $1,366,000 after acquiring an additional 28,286 shares in the last quarter. Finally, Wesbanco Bank Inc. purchased a new stake in shares of TPG during the first quarter worth $522,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup increased their target price on shares of TPG from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Zacks Research raised shares of TPG from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 8th. The Goldman Sachs Group increased their target price 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. BNP Paribas Exane raised shares of TPG from a "neutral" rating to an "outperform" rating and set a $69.00 target price on the stock in a research report on Wednesday, July 30th. Finally, 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 report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $62.57.

TPG Trading Up 0.4%

Shares of NASDAQ TPG opened at $56.37 on Friday. The company's fifty day moving average is $60.30 and its 200-day moving average is $53.14. The stock has a market cap of $21.30 billion, a price-to-earnings ratio of -296.68, a P/E/G ratio of 1.18 and a beta of 1.53. TPG Inc. has a twelve month low of $37.52 and a twelve month high of $72.98. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45.

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

TPG Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, August 18th. TPG's 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 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 transaction, the director directly owned 16,807 shares of the company's stock, valued at $946,570.24. This trade represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 69.98% of the stock is currently owned by corporate 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.

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