Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in TPG Inc. (NASDAQ:TPG – Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 158,500 shares of the company’s stock, valued at approximately $6,421,000.
Other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of TPG during the fourth quarter worth about $38,000. EverSource Wealth Advisors LLC increased its holdings in TPG by 2,496.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 675 shares of the company’s stock worth $43,000 after buying an additional 649 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in TPG by 268.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock worth $38,000 after buying an additional 524 shares during the last quarter. PNC Financial Services Group Inc. raised its position in TPG by 252.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 790 shares of the company’s stock worth $45,000 after buying an additional 566 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in TPG during the 4th quarter valued at approximately $70,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
TPG has been the topic of several recent research reports. UBS Group upped their price objective on shares of TPG from $54.00 to $59.00 and gave the company a “buy” rating in a report on Monday, May 4th. Evercore set a $47.00 target price on shares of TPG in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft set a $55.00 price target on shares of TPG in a report on Monday, May 4th. Wall Street Zen raised TPG from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Weiss Ratings upgraded TPG from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.43.
TPG Price Performance
Shares of NASDAQ TPG opened at $42.16 on Thursday. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of 191.65, a PEG ratio of 0.81 and a beta of 1.45. TPG Inc. has a 12 month low of $36.95 and a 12 month high of $70.38. The firm’s 50 day simple moving average is $42.05 and its 200-day simple moving average is $45.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.33 and a quick ratio of 0.33.
TPG (NASDAQ:TPG – Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. TPG had a net margin of 3.81% and a return on equity of 28.13%. The firm had revenue of $557.18 million during the quarter, compared to analyst estimates of $608.07 million. During the same period in the previous year, the firm earned $0.48 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. Analysts expect that TPG Inc. will post 2.83 EPS for the current year.
TPG Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 5.6%. The ex-dividend date was Monday, May 11th. TPG’s dividend payout ratio (DPR) is currently 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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