Vulcan Value Partners LLC Purchases Shares of 1,819,376 TPG Inc. (NASDAQ:TPG)

Key Points

• Vulcan Value Partners LLC has acquired a new stake in TPG Inc., purchasing 1,819,376 shares valued at approximately $86.3 million, now making up 1.6% of its total holdings.
• TPG recently missed earnings expectations for the quarter, reporting an EPS of $0.48 compared to the expected $0.50, despite a 6.1% year-over-year revenue increase.
• The company has announced a quarterly dividend of $0.41, which represents a dividend yield of 2.9%, but has a negative dividend payout ratio of -496.97%.

Vulcan Value Partners LLC purchased a new stake in shares of TPG Inc. (NASDAQ:TPG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,819,376 shares of the company's stock, valued at approximately $86,332,000. TPG makes up 1.6% of Vulcan Value Partners LLC's investment portfolio, making the stock its 20th largest position. Vulcan Value Partners LLC owned approximately 0.49% of TPG at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TPG. Alberta Investment Management Corp increased its holdings in shares of TPG by 25.2% in the first quarter. Alberta Investment Management Corp now owns 13,253 shares of the company's stock worth $629,000 after buying an additional 2,669 shares during the period. US Bancorp DE increased its holdings in shares of TPG by 27.1% in the first quarter. US Bancorp DE now owns 6,237 shares of the company's stock worth $296,000 after buying an additional 1,330 shares during the period. Sound View Wealth Advisors Group LLC increased its holdings in shares of TPG by 12.5% in the first quarter. Sound View Wealth Advisors Group LLC now owns 18,975 shares of the company's stock worth $900,000 after buying an additional 2,102 shares during the period. XTX Topco Ltd increased its holdings in shares of TPG by 136.7% in the first quarter. XTX Topco Ltd now owns 16,697 shares of the company's stock worth $792,000 after buying an additional 9,644 shares during the period. Finally, Shoker Investment Counsel Inc. grew its stake in shares of TPG by 109.6% in the first quarter. Shoker Investment Counsel Inc. now owns 8,151 shares of the company's stock worth $387,000 after purchasing an additional 4,262 shares during the last quarter. Hedge funds and other institutional investors own 94.03% of the company's stock.

Insider Buying and Selling at TPG

In other news, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction on Wednesday, July 16th. The stock was 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 represents a 9.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Samantha Holloway sold 21,000,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total value of $977,970,000.00. The disclosure for this sale can be found here. 69.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TPG has been the topic of a number of research analyst reports. BNP Paribas upgraded TPG to a "strong-buy" rating in a report on Wednesday, July 30th. Citigroup boosted their price target on TPG from $56.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Wolfe Research initiated coverage on TPG in a report on Friday, June 20th. They set an "outperform" rating and a $60.00 price target on the stock. UBS Group reduced their price target on TPG from $72.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, TD Cowen reduced their price target on TPG from $65.00 to $42.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.43.

TPG Stock Down 0.4%

TPG stock traded down $0.22 on Tuesday, reaching $56.92. 817,191 shares of the company traded hands, compared to its average volume of 1,661,983. TPG Inc. has a one year low of $37.52 and a one year high of $72.98. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.18 and a quick ratio of 0.18. The company has a market cap of $21.19 billion, a P/E ratio of -172.48, a price-to-earnings-growth ratio of 1.42 and a beta of 1.56. The firm has a fifty day simple moving average of $52.92 and a 200-day simple moving average of $52.48.

TPG (NASDAQ:TPG - Get Free Report) last issued its 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 business had revenue of $476.26 million for the quarter, compared to analysts' expectations of $459.75 million. During the same quarter in the prior year, the business posted $0.49 earnings per share. The business's revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts anticipate that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, May 19th. TPG's dividend payout ratio is presently -496.97%.

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.