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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TPG. Mirae Asset Global Investments Co. Ltd. grew its stake 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 valued at $1,396,000 after acquiring an additional 6,267 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in TPG by 62.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company's stock valued at $360,000 after acquiring an additional 2,913 shares during the period. Raymond James Financial Inc. acquired a new position in TPG in the fourth quarter valued at about $615,000. Lighthouse Investment Partners LLC acquired a new position in TPG in the fourth quarter valued at about $11,852,000. Finally, Point72 Asset Management L.P. acquired a new position in TPG in the fourth quarter valued at about $15,818,000. Institutional investors own 94.03% of the company's stock.

TPG Stock Performance

Shares of NASDAQ TPG opened at $55.84 on Friday. The stock has a 50 day moving average price of $52.72 and a 200 day moving average price of $52.64. TPG Inc. has a 52 week low of $37.52 and a 52 week high of $72.98. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a market capitalization of $20.79 billion, a PE ratio of -169.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.56.

TPG (NASDAQ:TPG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). TPG had a net margin of 0.90% and a return on equity of 24.47%. The company had revenue of $476.26 million for the quarter, compared to analyst estimates of $459.75 million. During the same period last year, the company posted $0.49 earnings per share. The business's revenue for the quarter was up 6.1% on a year-over-year basis. Analysts predict that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were paid a $0.41 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.64 annualized dividend and a yield of 2.9%. TPG's dividend payout ratio is currently -496.97%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TPG shares. Wells Fargo & Company boosted their target price on TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. BNP Paribas Exane raised TPG from a "neutral" rating to an "outperform" rating and set a $69.00 target price for the company in a research note on Wednesday. BNP Paribas raised TPG to a "strong-buy" rating in a research report on Wednesday. TD Cowen reduced their price objective on TPG from $65.00 to $42.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Finally, Citigroup upped their price objective on TPG from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $60.43.

Insider Activity at TPG

In other TPG news, major shareholder Samantha Holloway sold 21,000,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total value of $977,970,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Deborah M. Messemer sold 1,796 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total value of $101,150.72. Following the completion of the sale, the director owned 16,807 shares in the company, valued at $946,570.24. This represents a 9.65% decrease in their position. The disclosure for this sale can be found here. 69.98% of the stock is 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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