Frank Rimerman Advisors LLC boosted its stake in TPG Inc. (NASDAQ:TPG – Free Report) by 173.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 42,533 shares of the company’s stock after purchasing an additional 26,998 shares during the period. Frank Rimerman Advisors LLC’s holdings in TPG were worth $1,723,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortress Investment Group LLC acquired a new position in TPG during the 3rd quarter worth about $17,167,000. Franklin Resources Inc. grew its position in TPG by 18.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,672,272 shares of the company’s stock valued at $153,522,000 after acquiring an additional 425,223 shares in the last quarter. Hudson Bay Capital Management LP acquired a new position in TPG in the 3rd quarter valued at about $2,059,000. Capital International Investors increased its stake in TPG by 3.5% during the third quarter. Capital International Investors now owns 11,682,464 shares of the company’s stock worth $671,158,000 after purchasing an additional 392,336 shares during the period. Finally, Cinctive Capital Management LP purchased a new stake in TPG during the third quarter worth about $3,129,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.
TPG Stock Performance
Shares of TPG stock opened at $41.61 on Thursday. TPG Inc. has a one year low of $36.95 and a one year high of $70.38. The company has a market cap of $15.99 billion, a PE ratio of 189.14, a P/E/G ratio of 0.76 and a beta of 1.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.33 and a current ratio of 0.33. The business has a 50-day simple moving average of $42.06 and a 200-day simple moving average of $47.77.
TPG Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Monday, May 11th. TPG’s dividend payout ratio (DPR) is presently 1,072.73%.
Wall Street Analyst Weigh In
TPG has been the subject of several recent research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $61.00 price objective on shares of TPG in a research note on Tuesday, May 5th. BMO Capital Markets cut their target price on shares of TPG from $60.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Evercore set a $47.00 target price on shares of TPG in a report on Tuesday, April 21st. Morgan Stanley set a $60.00 price target on shares of TPG in a research report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft set a $55.00 price objective on TPG in a research report on Monday, May 4th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, TPG currently has an average rating of “Moderate Buy” and a consensus target price of $61.75.
Check Out Our Latest Report on TPG
TPG Profile
TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.
TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.
Featured Stories
- Five stocks we like better than TPG
- A Market Panic Just Discounted the AI Highway’s Tollbooth
- Why Exxon Could Be the Market’s Next Big Comeback Stock
- The Market Just Got Shaken—These 3 ETFs May Come Out Stronger
- Meta Platforms’ Cloud Push: Growth Opportunity Versus AI Concerns
Receive News & Ratings for TPG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPG and related companies with MarketBeat.com's FREE daily email newsletter.
