Simplicity Wealth LLC Acquires New Shares in TPG Inc. (NASDAQ:TPG)

Simplicity Wealth LLC acquired a new stake in shares of TPG Inc. (NASDAQ:TPG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 38,315 shares of the company's stock, valued at approximately $1,713,000.

Other hedge funds also recently modified their holdings of the company. Oak Thistle LLC bought a new position in TPG during the 1st quarter worth $451,000. Renaissance Capital LLC raised its position in TPG by 15.0% during the 1st quarter. Renaissance Capital LLC now owns 47,121 shares of the company's stock worth $2,106,000 after purchasing an additional 6,143 shares during the last quarter. Vanguard Group Inc. raised its position in TPG by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 6,050,481 shares of the company's stock worth $261,199,000 after purchasing an additional 320,972 shares during the last quarter. Virtu Financial LLC bought a new position in TPG during the 4th quarter worth $203,000. Finally, Point72 Europe London LLP bought a new position in TPG during the 4th quarter worth $4,009,000. Institutional investors and hedge funds own 86.79% of the company's stock.

TPG Stock Up 0.7 %

TPG stock traded up $0.32 during mid-day trading on Monday, reaching $43.21. 481,286 shares of the company traded hands, compared to its average volume of 768,946. The stock has a market cap of $15.76 billion, a price-to-earnings ratio of -308.62, a P/E/G ratio of 0.74 and a beta of 1.60. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37. TPG Inc. has a fifty-two week low of $24.95 and a fifty-two week high of $47.20. The firm's 50 day moving average price is $44.03 and its 200 day moving average price is $41.33.

TPG (NASDAQ:TPG - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.06. The business had revenue of $512.30 million during the quarter, compared to the consensus estimate of $452.87 million. TPG had a return on equity of 21.16% and a net margin of 2.74%. The company's quarterly revenue was up 64.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. As a group, equities research analysts predict that TPG Inc. will post 2.02 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $0.41 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.80%. TPG's payout ratio is presently -1,171.34%.

Insider Transactions at TPG

In other news, CAO Martin Davidson sold 39,317 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $41.64, for a total value of $1,637,159.88. Following the transaction, the chief accounting officer now owns 30,991 shares in the company, valued at approximately $1,290,465.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Martin Davidson sold 39,317 shares of TPG stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $41.64, for a total value of $1,637,159.88. Following the sale, the chief accounting officer now owns 30,991 shares of the company's stock, valued at approximately $1,290,465.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jon Winkelried sold 1,000,000 shares of TPG stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $41.64, for a total transaction of $41,640,000.00. Following the completion of the sale, the chief executive officer now directly owns 3,326,460 shares in the company, valued at approximately $138,513,794.40. The disclosure for this sale can be found here. Insiders have sold 2,434,129 shares of company stock worth $101,357,132 in the last 90 days. Insiders own 76.48% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TPG. The Goldman Sachs Group reissued a "buy" rating on shares of TPG in a research report on Monday, April 1st. Citigroup lifted their price objective on TPG from $46.00 to $50.00 and gave the stock a "buy" rating in a research report on Thursday, February 15th. Jefferies Financial Group lowered their price objective on TPG from $46.00 to $44.00 and set a "hold" rating for the company in a research report on Thursday, May 9th. UBS Group boosted their target price on TPG from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, April 12th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of TPG in a research report on Tuesday, April 9th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, TPG currently has a consensus rating of "Hold" and a consensus price target of $42.50.

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.

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