TPG Inc. (NASDAQ:TPG) Shares Bought by Allworth Financial LP

Allworth Financial LP lifted its holdings in TPG Inc. (NASDAQ:TPG) by 132.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 648 shares of the company’s stock after purchasing an additional 369 shares during the period. Allworth Financial LP’s holdings in TPG were worth $30,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in TPG by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 8,266,047 shares of the company’s stock valued at $519,438,000 after purchasing an additional 162,107 shares during the period. Capital World Investors lifted its stake in TPG by 484.6% in the fourth quarter. Capital World Investors now owns 3,065,321 shares of the company’s stock valued at $192,625,000 after buying an additional 2,541,013 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of TPG by 43.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,253,070 shares of the company’s stock valued at $141,584,000 after acquiring an additional 683,572 shares during the period. Millennium Management LLC grew its position in shares of TPG by 66.8% during the fourth quarter. Millennium Management LLC now owns 2,243,815 shares of the company’s stock worth $141,001,000 after acquiring an additional 898,943 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in shares of TPG by 10.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,720,309 shares of the company’s stock worth $108,105,000 after acquiring an additional 169,105 shares during the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Deborah M. Messemer sold 1,796 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total transaction of $101,150.72. Following the completion of the transaction, the director owned 16,807 shares in the company, valued at approximately $946,570.24. This trade represents a 9.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Samantha Holloway sold 21,000,000 shares of TPG stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total transaction of $977,970,000.00. The disclosure for this sale can be found here. Company insiders own 69.98% of the company’s stock.

Wall Street Analysts Forecast Growth

TPG has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of TPG from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, July 11th. Bank of America dropped their price target on shares of TPG from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Wolfe Research assumed coverage on TPG in a report on Friday, June 20th. They set an “outperform” rating and a $60.00 price target on the stock. Evercore ISI increased their price objective on TPG from $49.00 to $52.00 and gave the stock an “in-line” rating in a report on Thursday, July 10th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $47.00 target price (down from $80.00) on shares of TPG in a research report on Monday, April 14th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, TPG has a consensus rating of “Moderate Buy” and a consensus price target of $59.77.

TPG Price Performance

NASDAQ TPG opened at $56.09 on Friday. TPG Inc. has a 12 month low of $37.52 and a 12 month high of $72.98. The firm has a market capitalization of $20.89 billion, a PE ratio of -169.97, a P/E/G ratio of 1.21 and a beta of 1.55. The company’s 50 day simple moving average is $51.38 and its 200 day simple moving average is $53.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.18 and a quick ratio of 0.18.

TPG (NASDAQ:TPG) last issued 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 0.90% and a return on equity of 24.47%. The firm had revenue of $476.26 million for the quarter, compared to the consensus estimate of $459.75 million. During the same period in the previous year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $0.41 per share. The ex-dividend date was Monday, May 19th. This represents a $1.64 annualized dividend and a yield of 2.92%. TPG’s dividend payout ratio is currently -496.97%.

TPG Company 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.