Wesbanco Bank Inc. Takes $522,000 Position in TPG Inc. (NASDAQ:TPG)

Wesbanco Bank Inc. acquired a new stake in TPG Inc. (NASDAQ:TPG - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 11,000 shares of the company's stock, valued at approximately $522,000.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of TPG by 5,612.3% during the 1st quarter. GAMMA Investing LLC now owns 28,790 shares of the company's stock valued at $1,366,000 after purchasing an additional 28,286 shares during the last quarter. Versant Capital Management Inc raised its position in TPG by 12,263.6% in the first quarter. Versant Capital Management Inc now owns 1,360 shares of the company's stock worth $65,000 after acquiring an additional 1,349 shares during the period. California State Teachers Retirement System boosted its stake in TPG by 2.5% in the fourth quarter. California State Teachers Retirement System now owns 72,575 shares of the company's stock valued at $4,561,000 after acquiring an additional 1,760 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of TPG during the 4th quarter valued at approximately $67,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of TPG during the 4th quarter worth approximately $270,000. Institutional investors own 94.03% of the company's stock.

TPG Trading Up 0.5%

Shares of TPG traded up $0.24 during mid-day trading on Thursday, reaching $51.54. The company's stock had a trading volume of 546,365 shares, compared to its average volume of 1,279,860. The company's fifty day moving average price is $47.09 and its two-hundred day moving average price is $55.87. TPG Inc. has a 52 week low of $37.52 and a 52 week high of $72.98. The stock has a market cap of $19.05 billion, a PE ratio of -117.14, a P/E/G ratio of 0.80 and a beta of 1.55. The company has a current ratio of 0.18, a quick ratio of 0.25 and a debt-to-equity ratio of 0.36.

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

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Monday, May 19th. TPG's dividend payout ratio (DPR) is presently -496.97%.

Wall Street Analyst Weigh In

TPG has been the subject of a number of recent research reports. Bank of America decreased their target price on TPG from $72.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, April 4th. JMP Securities reiterated a "market perform" rating on shares of TPG in a research report on Thursday, February 13th. Morgan Stanley reissued an "equal weight" rating and issued a $47.00 price target (down previously from $80.00) on shares of TPG in a research report on Monday, April 14th. TD Cowen dropped their price target on shares of TPG from $65.00 to $42.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Finally, Citigroup reduced their price objective on shares of TPG from $72.00 to $56.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $60.25.

Insider Activity

In other TPG news, General Counsel Bradford Berenson sold 2,509 shares of the company's stock in a transaction that occurred 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 completion of the sale, the general counsel now directly owns 290,841 shares of the company's stock, valued at approximately $14,553,683.64. This represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Samantha Holloway sold 21,000,000 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total transaction of $977,970,000.00. The disclosure for this sale can be found here. Corporate insiders own 69.98% of the company's stock.

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.