State of New Jersey Common Pension Fund D Sells 7,846 Shares of TPG Inc. (NASDAQ:TPG)

State of New Jersey Common Pension Fund D decreased its position in shares of TPG Inc. (NASDAQ:TPG) by 20.0% during the fourth quarter, HoldingsChannel reports. The fund owned 31,425 shares of the company’s stock after selling 7,846 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in TPG were worth $1,975,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. increased its position in TPG by 10.1% during the third quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company’s stock valued at $161,921,000 after acquiring an additional 244,373 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of TPG by 146.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company’s stock worth $96,166,000 after purchasing an additional 992,818 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of TPG by 7.7% in the third quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock worth $83,023,000 after purchasing an additional 102,663 shares during the last quarter. State Street Corp grew its holdings in shares of TPG by 5.0% in the third quarter. State Street Corp now owns 1,421,981 shares of the company’s stock worth $81,849,000 after purchasing an additional 67,597 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of TPG by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 770,998 shares of the company’s stock worth $44,379,000 after purchasing an additional 31,638 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Evercore ISI upped their price target on shares of TPG from $65.00 to $66.00 and gave the stock an “in-line” rating in a report on Wednesday, February 12th. JMP Securities reissued a “market perform” rating on shares of TPG in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of TPG from $67.00 to $69.00 and gave the company a “buy” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods lifted their price target on TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, TD Cowen cut their price target on TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating and five 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 target price of $64.27.

Insider Activity

In other news, Director Deborah M. Messemer sold 1,695 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $61.91, for a total value of $104,937.45. Following the completion of the sale, the director now directly owns 15,841 shares in the company, valued at $980,716.31. This represents a 9.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 76.48% of the company’s stock.

TPG Price Performance

NASDAQ:TPG opened at $56.63 on Monday. TPG Inc. has a 12 month low of $39.18 and a 12 month high of $72.98. The stock has a 50 day moving average of $64.15 and a two-hundred day moving average of $61.61. The company has a current ratio of 0.18, a quick ratio of 0.25 and a debt-to-equity ratio of 0.36. The firm has a market cap of $20.67 billion, a P/E ratio of -128.70, a price-to-earnings-growth ratio of 0.80 and a beta of 1.49.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Tuesday, February 11th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. On average, analysts expect that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.53 per share. This is a positive change from TPG’s previous quarterly dividend of $0.38. This represents a $2.12 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend is Friday, February 21st. TPG’s payout ratio is -481.82%.

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.