Lazard Asset Management LLC increased its position in shares of TPG Inc. (NASDAQ:TPG – Free Report) by 60.4% in the first quarter, Holdings Channel.com reports. The firm owned 87,835 shares of the company’s stock after purchasing an additional 33,072 shares during the quarter. Lazard Asset Management LLC’s holdings in TPG were worth $3,558,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of TPG. International Assets Investment Management LLC bought a new position in shares of TPG in the fourth quarter worth about $38,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of TPG by 268.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock worth $38,000 after acquiring an additional 524 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of TPG by 2,496.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 675 shares of the company’s stock valued at $43,000 after buying an additional 649 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in TPG by 252.7% during the third quarter. PNC Financial Services Group Inc. now owns 790 shares of the company’s stock valued at $45,000 after acquiring an additional 566 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of TPG during the 4th quarter valued at $70,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on TPG shares. Keefe, Bruyette & Woods raised shares of TPG to a “moderate buy” rating in a research report on Monday, July 20th. UBS Group upped their target price on TPG from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Citigroup restated an “outperform” rating on shares of TPG in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft set a $55.00 price objective on TPG in a report on Monday, May 4th. Finally, Weiss Ratings cut shares of TPG from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Eleven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, TPG presently has an average rating of “Moderate Buy” and an average price target of $60.43.
TPG Stock Up 2.2%
Shares of NASDAQ:TPG opened at $43.66 on Friday. TPG Inc. has a 52-week low of $36.95 and a 52-week high of $70.38. The stock has a market cap of $16.78 billion, a P/E ratio of 198.46, a PEG ratio of 0.81 and a beta of 1.45. The business has a fifty day moving average of $42.11 and a two-hundred day moving average of $45.20. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.63.
TPG (NASDAQ:TPG – Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $557.18 million for the quarter, compared to the consensus estimate of $608.07 million. TPG had a net margin of 3.81% and a return on equity of 28.13%. TPG’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 earnings per share. On average, research analysts expect that TPG Inc. will post 2.83 earnings per share for the current year.
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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