Jennison Associates LLC grew its holdings in TPG Inc. (NASDAQ:TPG – Free Report) by 32.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 282,527 shares of the company’s stock after buying an additional 69,021 shares during the quarter. Jennison Associates LLC’s holdings in TPG were worth $11,445,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Darlington Partners Capital Management LP bought a new position in shares of TPG in the second quarter valued at about $258,581,000. Millennium Management LLC grew its holdings in TPG by 66.9% during the 4th quarter. Millennium Management LLC now owns 4,584,733 shares of the company’s stock worth $292,689,000 after acquiring an additional 1,837,799 shares during the last quarter. Norges Bank acquired a new stake in TPG in the 4th quarter valued at about $106,755,000. Bank of America Corp DE increased its position in TPG by 72.7% in the 3rd quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock valued at $204,960,000 after acquiring an additional 1,501,808 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in shares of TPG in the second quarter worth about $54,088,000. 94.03% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on TPG shares. The Goldman Sachs Group reiterated a “buy” rating and set a $61.00 target price on shares of TPG in a research report on Tuesday, May 5th. Barclays raised their price target on shares of TPG from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Evercore set a $47.00 price objective on shares of TPG in a research report on Tuesday, April 21st. Morgan Stanley reduced their price objective on TPG from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Citizens Jmp decreased their price objective on TPG from $75.00 to $68.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $61.00.
TPG Price Performance
TPG stock opened at $42.84 on Wednesday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $16.46 billion, a P/E ratio of 194.74, a PEG ratio of 0.79 and a beta of 1.45. The business has a 50-day moving average of $41.94 and a 200-day moving average of $46.40. TPG Inc. has a 1 year low of $36.95 and a 1 year high of $70.38.
TPG (NASDAQ:TPG – Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. TPG had a net margin of 3.81% and a return on equity of 28.13%. The business had revenue of $557.18 million for the quarter, compared to the consensus estimate of $608.07 million. During the same period last year, the company posted $0.48 EPS. TPG’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts anticipate that TPG Inc. will post 2.85 EPS for the current year.
TPG Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were issued a $0.59 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.36 annualized dividend and a yield of 5.5%. TPG’s dividend payout ratio (DPR) is 1,072.73%.
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.
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