Raymond James Financial Inc. Purchases Shares of 9,789 TPG Inc. (NASDAQ:TPG)

Raymond James Financial Inc. acquired a new stake in TPG Inc. (NASDAQ:TPG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,789 shares of the company's stock, valued at approximately $615,000.

Several other institutional investors have also recently modified their holdings of TPG. Norges Bank acquired a new position in TPG in the fourth quarter valued at approximately $100,675,000. JPMorgan Chase & Co. grew its position in TPG by 2,515.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company's stock valued at $104,296,000 after buying an additional 1,596,254 shares during the period. Barclays PLC increased its holdings in TPG by 14,739.3% in the third quarter. Barclays PLC now owns 602,029 shares of the company's stock valued at $34,652,000 after buying an additional 597,972 shares in the last quarter. Burkehill Global Management LP acquired a new position in shares of TPG in the fourth quarter worth about $31,420,000. Finally, Invesco Ltd. boosted its stake in shares of TPG by 103.7% during the 4th quarter. Invesco Ltd. now owns 656,072 shares of the company's stock worth $41,228,000 after acquiring an additional 333,973 shares in the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TPG

In related news, General Counsel Bradford Berenson sold 2,509 shares of the stock in a transaction on Wednesday, March 19th. The stock was 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 $14,553,683.64. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 69.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TPG shares. Bank of America lowered their price target on TPG from $72.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Citigroup cut their price target on shares of TPG from $72.00 to $56.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Morgan Stanley reaffirmed an "equal weight" rating and set a $47.00 price objective (down from $80.00) on shares of TPG in a report on Monday, April 14th. 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, JMP Securities reaffirmed a "market perform" rating on shares of TPG in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $60.08.

TPG Trading Up 1.6 %

Shares of TPG traded up $0.77 during mid-day trading on Friday, reaching $49.53. The stock had a trading volume of 2,921,754 shares, compared to its average volume of 1,158,384. TPG Inc. has a 52-week low of $37.52 and a 52-week high of $72.98. The firm has a market cap of $18.30 billion, a price-to-earnings ratio of -112.57, a P/E/G ratio of 0.80 and a beta of 1.58. The business's fifty day moving average is $46.70 and its 200 day moving average is $58.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.18 and a quick ratio of 0.25.

TPG (NASDAQ:TPG - Get Free Report) last announced 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). The firm had revenue of $476.26 million for the quarter, compared to analyst estimates of $459.75 million. TPG had a return on equity of 24.66% and a net margin of 0.67%. The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 EPS. On average, sell-side analysts predict that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.64 dividend on an annualized basis and a yield of 3.31%. TPG's dividend payout ratio (DPR) is presently -496.97%.

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.