Meketa Capital LLC Invests $1.44 Million in TPG Inc. (NASDAQ:TPG)

Meketa Capital LLC bought a new stake in shares of TPG Inc. (NASDAQ:TPG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 22,840 shares of the company's stock, valued at approximately $1,435,000. TPG accounts for about 3.2% of Meketa Capital LLC's portfolio, making the stock its 11th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in TPG by 2,515.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company's stock worth $104,296,000 after buying an additional 1,596,254 shares in the last quarter. Gunderson Capital Management Inc. bought a new stake in TPG in the 4th quarter worth approximately $1,815,000. Raymond James Financial Inc. bought a new stake in TPG in the 4th quarter worth approximately $615,000. Highland Capital Management LLC grew its position in shares of TPG by 21.2% during the 4th quarter. Highland Capital Management LLC now owns 51,267 shares of the company's stock valued at $3,222,000 after acquiring an additional 8,967 shares during the period. Finally, Keystone Investors PTE Ltd. purchased a new position in shares of TPG during the 4th quarter valued at $12,705,000. Institutional investors own 94.03% of the company's stock.

Insider Transactions at TPG

In other news, General Counsel Bradford Berenson sold 2,509 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total value 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 $14,553,683.64. This represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 69.98% of the company's stock.

Analyst Upgrades and Downgrades

TPG has been the topic of several recent research reports. JMP Securities restated a "market perform" rating on shares of TPG in a research report on Thursday, February 13th. Evercore ISI increased their price objective on shares of TPG from $65.00 to $66.00 and gave the company an "in-line" rating in a research note on Wednesday, February 12th. Bank of America decreased their target price on shares of TPG from $72.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Citigroup lowered 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. Finally, Wells Fargo & Company lifted their price objective on shares of TPG from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $60.08.

TPG Stock Performance

Shares of TPG opened at $52.50 on Tuesday. The stock has a market cap of $19.40 billion, a P/E ratio of -119.32, a PEG ratio of 0.80 and a beta of 1.58. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $72.98. The company has a current ratio of 0.18, a quick ratio of 0.25 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $46.73 and a two-hundred day moving average of $58.40.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings results 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). The business 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%. The company's quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. As a group, research analysts predict that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $0.41 per share. The ex-dividend date is Monday, May 19th. This represents a $1.64 annualized dividend and a dividend yield of 3.12%. TPG's dividend payout ratio is currently -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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.