Wellington Management Group LLP Grows Position 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 stake in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 69.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,693,179 shares of the company's stock after buying an additional 4,369,618 shares during the quarter. Wellington Management Group LLP owned approximately 2.89% of TPG worth $507,177,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, Director Deborah M. Messemer sold 1,796 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 76.48% of the company's stock.

TPG Stock Performance

NASDAQ TPG traded up $0.85 on Friday, reaching $60.94. The stock had a trading volume of 1,960,831 shares, compared to its average volume of 2,011,393. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.40. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $72.98. The business's 50-day moving average price is $56.34 and its 200 day moving average price is $51.97. The stock has a market cap of $23.03 billion, a P/E ratio of -320.74, a price-to-earnings-growth ratio of 1.28 and a beta of 1.56.

TPG (NASDAQ:TPG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.24. TPG had a return on equity of 25.79% and a net margin of 1.60%.The company had revenue of $495.12 million during the quarter, compared to analysts' expectations of $470.57 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The firm's revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities analysts expect that TPG Inc. will post 2.52 earnings per share for the current 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 paid a $0.59 dividend. This is an increase 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%. The ex-dividend date is Monday, August 18th. TPG's dividend payout ratio (DPR) is presently -1,242.11%.

Analysts Set New Price Targets

TPG has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their price target on TPG from $61.00 to $69.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Wells Fargo & Company upped their price target on TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, July 11th. JPMorgan Chase & Co. upped their price target on TPG from $56.00 to $65.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Evercore ISI upped their price target on TPG from $52.00 to $60.00 and gave the company an "in-line" rating in a report on Friday, August 8th. Finally, BNP Paribas Exane raised TPG from a "neutral" rating to an "outperform" rating and set a $69.00 price target for the company in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, TPG presently has an average rating of "Moderate Buy" and an average target price of $62.57.

TPG 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.