TPG Inc. (NASDAQ:TPG) Shares Sold by South Street Advisors LLC

South Street Advisors LLC lessened its stake in shares of TPG Inc. (NASDAQ:TPG) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 388,180 shares of the company’s stock after selling 16,235 shares during the quarter. TPG comprises approximately 3.4% of South Street Advisors LLC’s holdings, making the stock its 7th largest position. South Street Advisors LLC’s holdings in TPG were worth $22,344,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. KBC Group NV lifted its holdings in TPG by 25.1% in the 3rd quarter. KBC Group NV now owns 2,405 shares of the company’s stock worth $138,000 after purchasing an additional 482 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of TPG in the third quarter valued at approximately $269,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of TPG in the third quarter worth $2,260,000. Covestor Ltd boosted its holdings in shares of TPG by 1,128.3% during the 3rd quarter. Covestor Ltd now owns 1,867 shares of the company’s stock worth $107,000 after buying an additional 1,715 shares during the period. Finally, Shoker Investment Counsel Inc. bought a new stake in shares of TPG during the 3rd quarter worth $203,000. Institutional investors and hedge funds own 86.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TPG shares. BMO Capital Markets boosted their target price on shares of TPG from $45.00 to $60.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. TD Cowen decreased their target price on TPG from $62.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Evercore ISI lifted their price target on TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. The Goldman Sachs Group upped their price target on TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. 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 an average rating of “Hold” and an average target price of $57.67.

TPG Price Performance

Shares of TPG stock traded down $1.23 during trading hours on Friday, hitting $64.67. The company had a trading volume of 2,019,267 shares, compared to its average volume of 876,200. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25. The firm has a market capitalization of $23.59 billion, a price-to-earnings ratio of -190.21, a PEG ratio of 1.10 and a beta of 1.49. TPG Inc. has a 12 month low of $33.69 and a 12 month high of $70.67. The firm’s fifty day moving average is $61.68 and its 200 day moving average is $50.59.

TPG (NASDAQ:TPG) last released its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. TPG had a return on equity of 23.45% and a net margin of 0.69%. The firm had revenue of $855.40 million during the quarter, compared to analyst estimates of $449.98 million. During the same period in the prior year, the company posted $0.56 earnings per share. On average, sell-side analysts predict that TPG Inc. will post 1.94 EPS for the current fiscal year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given a $0.38 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.35%. TPG’s dividend payout ratio (DPR) is presently -447.06%.

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.