Wellington Management Group LLP Raises Holdings in TPG Inc. $TPG

Key Points

• Wellington Management Group LLP increased its stake in TPG Inc. by 69.1%, holding approximately $507.2 million worth of shares after buying over 4.3 million additional shares.
• Insider trading was notable, with major shareholder Samantha Holloway selling 21 million shares for nearly $978 million, while a director also sold a smaller amount, indicating potential shifts in insider confidence.
• The company recently announced a dividend increase to $0.59 per share, reflecting a 3.8% yield and up from the previous $0.41 dividend, signaling positive financial performance.

Wellington Management Group LLP lifted its holdings in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 69.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,693,179 shares of the company's stock after purchasing an additional 4,369,618 shares during the period. Wellington Management Group LLP owned about 2.89% of TPG worth $507,177,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP increased its stake in shares of TPG by 132.3% during the 1st quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $30,000 after purchasing an additional 369 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of TPG during the 4th quarter worth approximately $67,000. Comerica Bank increased its stake in shares of TPG by 71.4% during the 4th quarter. Comerica Bank now owns 1,080 shares of the company's stock worth $68,000 after purchasing an additional 450 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of TPG by 12,263.6% during the 1st quarter. Versant Capital Management Inc now owns 1,360 shares of the company's stock worth $65,000 after purchasing an additional 1,349 shares in the last quarter. Finally, Signaturefd LLC boosted its position in TPG by 27.0% during the first quarter. Signaturefd LLC now owns 1,443 shares of the company's stock worth $68,000 after acquiring an additional 307 shares during the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, major shareholder Samantha Holloway sold 21,000,000 shares of the firm's 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Deborah M. Messemer sold 1,796 shares of the firm'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 completion of the transaction, the director directly owned 16,807 shares in the company, valued at approximately $946,570.24. This represents a 9.65% decrease in their position. The disclosure for this sale can be found here. Company insiders own 76.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. UBS Group decreased their target price on shares of TPG from $72.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Citigroup raised 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. JPMorgan Chase & Co. raised 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. Wolfe Research assumed coverage on shares of TPG in a research report on Friday, June 20th. They set an "outperform" rating and a $60.00 target price on the stock. Finally, Evercore ISI raised their target price on shares of TPG from $52.00 to $60.00 and gave the stock an "in-line" rating in a research report on Friday, August 8th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, TPG has a consensus rating of "Moderate Buy" and an average price target of $62.57.

TPG Stock Performance

NASDAQ:TPG opened at $62.45 on Tuesday. 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 $23.60 billion, a P/E ratio of -328.68, a P/E/G ratio of 1.33 and a beta of 1.56. TPG Inc. has a fifty-two week low of $37.52 and a fifty-two week high of $72.98. The firm's 50 day moving average is $55.57 and its two-hundred day moving average is $52.08.

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

TPG Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from TPG's previous quarterly dividend of $0.41. TPG's payout ratio is -863.16%.

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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