Vanguard Group Inc. Boosts Holdings in TPG Inc. (NASDAQ:TPG)

Key Points

• Vanguard Group Inc. increased its holdings in TPG Inc. by 12.5%, now owning over 9.3 million shares worth approximately $441 million.
• TPG declared a quarterly dividend of $0.59 per share, marking an increase from the previous $0.41, with a dividend yield of 3.7%.
• Several analysts set new price targets for TPG, with consensus ratings indicating a "Moderate Buy" and a target price of $62.57.

Vanguard Group Inc. boosted its position in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 12.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,303,272 shares of the company's stock after buying an additional 1,037,225 shares during the quarter. Vanguard Group Inc. owned 2.52% of TPG worth $441,254,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Capital World Investors boosted its stake in shares of TPG by 484.6% during the fourth quarter. Capital World Investors now owns 3,065,321 shares of the company's stock valued at $192,625,000 after purchasing an additional 2,541,013 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of TPG by 43.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,253,070 shares of the company's stock valued at $141,584,000 after purchasing an additional 683,572 shares during the period. Millennium Management LLC boosted its stake in shares of TPG by 66.8% during the fourth quarter. Millennium Management LLC now owns 2,243,815 shares of the company's stock valued at $141,001,000 after purchasing an additional 898,943 shares during the period. TimesSquare Capital Management LLC lifted its stake in TPG by 8.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,845,646 shares of the company's stock worth $87,539,000 after acquiring an additional 137,110 shares during the period. Finally, Vulcan Value Partners LLC purchased a new stake in TPG in the first quarter worth about $86,332,000. 94.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Samantha Holloway sold 21,000,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total transaction of $977,970,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Deborah M. Messemer sold 1,796 shares of the company's stock in a transaction dated 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 owned 16,807 shares in the company, valued at approximately $946,570.24. This trade represents a 9.65% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 69.98% of the company's stock.

TPG Stock Performance

TPG opened at $63.48 on Friday. TPG Inc. has a 52-week low of $37.52 and a 52-week 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. The company has a market cap of $23.64 billion, a P/E ratio of -334.11, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. The firm's 50-day moving average price is $55.33 and its 200-day moving average price is $52.32.

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, beating the consensus estimate of $0.45 by $0.24. TPG had a net margin of 1.60% and a return on equity of 25.79%. The firm had revenue of $495.12 million for the quarter, compared to the consensus estimate of $470.57 million. During the same quarter in the prior year, the company posted $0.49 earnings per share. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 3.7%. 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 -863.16%.

Analysts Set New Price Targets

A number of research firms recently weighed in on TPG. UBS Group lowered their price objective on shares of TPG from $72.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. The Goldman Sachs Group upped their price objective on shares of TPG from $61.00 to $69.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Wolfe Research began coverage on shares of TPG in a research note on Friday, June 20th. They issued an "outperform" rating and a $60.00 price objective for the company. BNP Paribas raised shares of TPG to a "strong-buy" rating in a research note on Wednesday, July 30th. Finally, Evercore ISI upped their price objective on shares of TPG from $52.00 to $60.00 and gave the stock an "in-line" rating in a research note on Friday, August 8th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.57.

TPG Company 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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