Mackenzie Financial Corp Makes New $438,000 Investment in TPG Inc. (NASDAQ:TPG)

Mackenzie Financial Corp acquired a new position in shares of TPG Inc. (NASDAQ:TPG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,155 shares of the company’s stock, valued at approximately $438,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC bought a new stake in shares of TPG during the third quarter worth $30,000. SG Americas Securities LLC bought a new stake in shares of TPG during the fourth quarter worth $164,000. Raymond James & Associates bought a new stake in shares of TPG during the fourth quarter worth $216,000. Commonwealth Equity Services LLC lifted its position in shares of TPG by 7.9% during the third quarter. Commonwealth Equity Services LLC now owns 8,151 shares of the company’s stock worth $246,000 after purchasing an additional 600 shares during the last quarter. Finally, New York State Teachers Retirement System bought a new stake in shares of TPG during the fourth quarter worth $250,000. 86.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TPG

In related news, COO Anilu Vazquez-Ubarri sold 101,937 shares of the company’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 $4,244,656.68. Following the sale, the chief operating officer now owns 333,711 shares in the company, valued at $13,895,726.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Anilu Vazquez-Ubarri sold 101,937 shares of the company’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 $4,244,656.68. Following the sale, the chief operating officer now owns 333,711 shares in the company, valued at $13,895,726.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jon Winkelried sold 1,000,000 shares of the company’s 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 $41,640,000.00. Following the completion of the sale, the chief executive officer now owns 3,326,460 shares in the company, valued at approximately $138,513,794.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,434,129 shares of company stock worth $101,357,132. Insiders own 78.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TPG. TD Cowen began coverage on TPG in a research report on Thursday, January 4th. They set a “market perform” rating and a $38.00 target price for the company. Morgan Stanley lifted their price objective on TPG from $31.00 to $40.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. BMO Capital Markets restated a “market perform” rating and issued a $42.00 price objective (up from $36.00) on shares of TPG in a report on Wednesday, February 14th. UBS Group lifted their price objective on TPG from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on TPG from $42.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, February 14th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $39.96.

TPG Price Performance

Shares of TPG stock opened at $43.87 on Friday. TPG Inc. has a fifty-two week low of $24.74 and a fifty-two week high of $47.20. The firm has a market capitalization of $16.00 billion, a price-to-earnings ratio of -1,096.48, a PEG ratio of 0.75 and a beta of 1.62. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.16 and a current ratio of 0.16. The stock’s 50-day simple moving average is $44.27 and its 200-day simple moving average is $39.41.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.10. TPG had a return on equity of 18.69% and a net margin of 3.35%. The business had revenue of $529.90 million for the quarter, compared to analyst estimates of $395.30 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The company’s revenue was up 51.3% on a year-over-year basis. As a group, equities analysts forecast that TPG Inc. will post 2.09 earnings per share for the current fiscal year.

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.01%. TPG’s payout ratio is -4,398.90%.

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.