Victory Capital Management Inc. Lowers Position in TPG Inc. (NASDAQ:TPG)

Key Points

• Victory Capital Management Inc. has reduced its stake in TPG Inc. by 60%, selling 15,347 shares and currently holding 10,245 shares valued at approximately $486,000.
• Institutional investors hold a significant stake in TPG, with 94.03% of the company's stock owned by such entities.
• TPG recently reported earnings of $0.48 per share, missing the consensus estimate and revealing a net margin of 0.90% with year-over-year revenue growth of 6.1%.

Victory Capital Management Inc. lowered its holdings in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 60.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 10,245 shares of the company's stock after selling 15,347 shares during the period. Victory Capital Management Inc.'s holdings in TPG were worth $486,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in TPG by 27.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,250 shares of the company's stock worth $1,396,000 after purchasing an additional 6,267 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in TPG by 62.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company's stock worth $360,000 after purchasing an additional 2,913 shares during the period. Raymond James Financial Inc. acquired a new stake in TPG in the fourth quarter worth $615,000. Lighthouse Investment Partners LLC acquired a new stake in TPG in the fourth quarter worth $11,852,000. Finally, Point72 Asset Management L.P. acquired a new stake in TPG in the fourth quarter worth $15,818,000. Institutional investors own 94.03% of the company's stock.

TPG Stock Performance

Shares of TPG traded up $3.03 on Wednesday, reaching $60.31. The company's stock had a trading volume of 1,599,741 shares, compared to its average volume of 1,670,394. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.18 and a quick ratio of 0.18. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $72.98. The stock has a market capitalization of $22.46 billion, a P/E ratio of -182.71, a PEG ratio of 1.45 and a beta of 1.56. The stock's 50 day simple moving average is $53.10 and its two-hundred day simple moving average is $52.52.

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. TPG had a net margin of 0.90% and a return on equity of 24.47%. During the same quarter in the prior year, the company earned $0.49 EPS. TPG's revenue was up 8.9% compared to the same quarter last year. Research analysts forecast that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th will be given a dividend of $0.59 per share. This is a boost from TPG's previous quarterly dividend of $0.41. This represents a $2.36 dividend on an annualized basis and a yield of 3.9%. TPG's payout ratio is -496.97%.

Analyst Upgrades and Downgrades

TPG has been the subject of a number of research reports. Morgan Stanley restated an "equal weight" rating and issued a $47.00 price target (down from $80.00) on shares of TPG in a report on Monday, April 14th. BNP Paribas upgraded shares of TPG to a "strong-buy" rating in a report on Wednesday, July 30th. Evercore ISI lifted their price objective on shares of TPG from $49.00 to $52.00 and gave the company an "in-line" rating in a report on Thursday, July 10th. Wolfe Research initiated coverage on shares of TPG in a report on Friday, June 20th. They set an "outperform" rating and a $60.00 price objective for the company. Finally, BNP Paribas Exane upgraded shares of TPG from a "neutral" rating to an "outperform" rating and set a $69.00 price objective for the company in a report on Wednesday, July 30th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, TPG has a consensus rating of "Moderate Buy" and an average price target of $60.43.

Insiders Place Their Bets

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the business'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 transaction, the director owned 16,807 shares in the company, valued at $946,570.24. The trade was a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Samantha Holloway sold 21,000,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total transaction of $977,970,000.00. The disclosure for this sale can be found here. Insiders own 76.48% of the company's stock.

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.