American Century Companies Inc. Sells 62,523 Shares of TPG Inc. $TPG

American Century Companies Inc. reduced its position in TPG Inc. (NASDAQ:TPG) by 6.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 860,350 shares of the company’s stock after selling 62,523 shares during the quarter. American Century Companies Inc.’s holdings in TPG were worth $45,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in TPG during the second quarter valued at approximately $37,000. GAMMA Investing LLC increased its position in shares of TPG by 55.7% during the second quarter. GAMMA Investing LLC now owns 945 shares of the company’s stock worth $50,000 after purchasing an additional 338 shares in the last quarter. MAI Capital Management lifted its holdings in shares of TPG by 572.3% during the 2nd quarter. MAI Capital Management now owns 1,190 shares of the company’s stock valued at $62,000 after purchasing an additional 1,013 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of TPG by 43.8% in the 2nd quarter. Parallel Advisors LLC now owns 1,380 shares of the company’s stock worth $72,000 after purchasing an additional 420 shares in the last quarter. Finally, Comerica Bank grew its stake in TPG by 43.1% during the 1st quarter. Comerica Bank now owns 1,545 shares of the company’s stock worth $73,000 after buying an additional 465 shares during the last quarter. 94.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TPG has been the subject of a number of recent analyst reports. BMO Capital Markets initiated coverage on shares of TPG in a research note on Friday, October 3rd. They issued an “outperform” rating and a $65.00 target price for the company. The Goldman Sachs Group raised their price target on shares of TPG from $61.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Citigroup lowered their price objective on shares of TPG from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, October 13th. JPMorgan Chase & Co. cut their target price on TPG from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Cowen restated a “hold” rating on shares of TPG in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, TPG has an average rating of “Moderate Buy” and an average price target of $66.62.

TPG Trading Up 1.6%

TPG stock opened at $59.12 on Friday. The firm has a market cap of $22.35 billion, a PE ratio of 656.89, a P/E/G ratio of 1.07 and a beta of 1.52. TPG Inc. has a 12 month low of $37.52 and a 12 month high of $71.11. The stock’s 50 day simple moving average is $56.96 and its two-hundred day simple moving average is $56.02. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47.

TPG (NASDAQ:TPG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). TPG had a net margin of 2.83% and a return on equity of 25.79%. The firm had revenue of $509.40 million during the quarter, compared to analysts’ expectations of $510.32 million. During the same period in the previous year, the firm posted $0.45 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts anticipate that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.80 dividend on an annualized basis and a yield of 3.0%. TPG’s dividend payout ratio (DPR) is currently 2,000.00%.

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.