Wesbanco Bank Inc. Purchases Shares of 11,000 TPG Inc. (NASDAQ:TPG)

Wesbanco Bank Inc. bought a new position in shares of TPG Inc. (NASDAQ:TPG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,000 shares of the company's stock, valued at approximately $522,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Fourth Dimension Wealth LLC acquired a new position in TPG during the fourth quarter worth $67,000. Comerica Bank boosted its stake in shares of TPG by 71.4% during the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock valued at $68,000 after acquiring an additional 450 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of TPG by 12,263.6% during the first quarter. Versant Capital Management Inc now owns 1,360 shares of the company's stock worth $65,000 after buying an additional 1,349 shares in the last quarter. Stifel Financial Corp acquired a new position in TPG in the 4th quarter valued at $206,000. Finally, Baker Avenue Asset Management LP purchased a new position in TPG during the fourth quarter worth about $220,000. 94.03% of the stock is owned by hedge funds and other institutional investors.

TPG Price Performance

TPG traded down $1.98 during trading on Friday, reaching $49.82. The stock had a trading volume of 1,642,862 shares, compared to its average volume of 1,291,929. The stock has a 50 day moving average of $47.50 and a two-hundred day moving average of $55.49. TPG Inc. has a 1-year low of $37.52 and a 1-year high of $72.98. The firm has a market capitalization of $18.41 billion, a price-to-earnings ratio of -113.23, a price-to-earnings-growth ratio of 0.80 and a beta of 1.55. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The company had revenue of $476.26 million for the quarter, compared to analyst estimates of $459.75 million. TPG had a net margin of 0.67% and a return on equity of 24.66%. TPG's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. As a group, equities analysts anticipate that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The firm 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. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.29%. TPG's dividend payout ratio is -496.97%.

Analyst Upgrades and Downgrades

TPG has been the subject of several research reports. Wells Fargo & Company boosted their price objective on shares of TPG from $56.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Bank of America dropped their price objective on TPG from $72.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Morgan Stanley reaffirmed an "equal weight" rating and set a $47.00 price target (down previously from $80.00) on shares of TPG in a research report on Monday, April 14th. The Goldman Sachs Group lowered their target price on shares of TPG from $70.00 to $63.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, UBS Group cut 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. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, TPG has a consensus rating of "Hold" and a consensus target price of $60.25.

Insider Buying and Selling at TPG

In other news, General Counsel Bradford Berenson sold 2,509 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total transaction of $125,550.36. Following the transaction, the general counsel now owns 290,841 shares in the company, valued at approximately $14,553,683.64. This trade represents a 0.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Samantha Holloway sold 21,000,000 shares of the stock in a transaction dated 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. Company insiders own 69.98% of the company's stock.

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.