Millennium Management LLC Has $141 Million Stock Position in TPG Inc. (NASDAQ:TPG)

Millennium Management LLC raised its position in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 66.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,243,815 shares of the company's stock after purchasing an additional 898,943 shares during the period. Millennium Management LLC owned 0.61% of TPG worth $141,001,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPG. Treasurer of the State of North Carolina lifted its stake in shares of TPG by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 36,946 shares of the company's stock worth $2,322,000 after acquiring an additional 230 shares during the period. Shoker Investment Counsel Inc. lifted its stake in shares of TPG by 10.4% in the 4th quarter. Shoker Investment Counsel Inc. now owns 3,889 shares of the company's stock worth $244,000 after acquiring an additional 366 shares during the period. Comerica Bank lifted its stake in shares of TPG by 71.4% in the 4th quarter. Comerica Bank now owns 1,080 shares of the company's stock worth $68,000 after acquiring an additional 450 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of TPG by 6.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,021 shares of the company's stock worth $504,000 after acquiring an additional 498 shares during the period. Finally, Mariner LLC lifted its stake in shares of TPG by 16.3% in the 4th quarter. Mariner LLC now owns 4,151 shares of the company's stock worth $261,000 after acquiring an additional 582 shares during the period. 94.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TPG. Morgan Stanley reaffirmed an "equal weight" rating and issued a $47.00 price target (down from $80.00) on shares of TPG in a research note on Monday, April 14th. Wells Fargo & Company increased their target price on shares of TPG from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. JMP Securities reissued a "market perform" rating on shares of TPG in a research note on Thursday, February 13th. TD Cowen cut their target price on shares of TPG from $65.00 to $42.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group cut 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. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.08.

TPG Trading Up 1.2%

Shares of TPG stock traded up $0.62 during trading hours on Friday, reaching $51.91. 934,685 shares of the stock traded hands, compared to its average volume of 1,176,846. TPG Inc. has a 1-year low of $37.52 and a 1-year high of $72.98. The business has a fifty day moving average price of $47.05 and a 200 day moving average price of $58.10. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $19.18 billion, a PE ratio of -117.98, a PEG ratio of 0.80 and a beta of 1.58.

TPG (NASDAQ:TPG - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share (EPS) 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 firm had revenue of $476.26 million for the quarter, compared to analyst estimates of $459.75 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The firm's revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts forecast that TPG Inc. will post 2.52 EPS for the current year.

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.64 annualized dividend and a yield of 3.16%. TPG's dividend payout ratio is presently -496.97%.

Insider Buying and Selling at TPG

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 value 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 represents a 0.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.