Clear Harbor Asset Management LLC Purchases 65,387 Shares of TPG Inc. $TPG

Clear Harbor Asset Management LLC grew its position in shares of TPG Inc. (NASDAQ:TPG) by 84.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 142,372 shares of the company’s stock after buying an additional 65,387 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in TPG were worth $8,179,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Comerica Bank increased its holdings in TPG by 43.1% during the 1st quarter. Comerica Bank now owns 1,545 shares of the company’s stock valued at $73,000 after purchasing an additional 465 shares during the period. Royal Bank of Canada lifted its holdings in TPG by 86.3% in the 1st quarter. Royal Bank of Canada now owns 7,901 shares of the company’s stock worth $375,000 after buying an additional 3,659 shares during the period. Goldman Sachs Group Inc. grew its position in shares of TPG by 4,109.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock worth $27,083,000 after buying an additional 557,438 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of TPG by 156.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company’s stock valued at $22,941,000 after buying an additional 294,941 shares during the period. Finally, Strs Ohio bought a new position in shares of TPG during the first quarter valued at approximately $1,057,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TPG. UBS Group reiterated a “buy” rating on shares of TPG in a report on Wednesday. TD Cowen raised their target price on shares of TPG from $58.00 to $60.00 and gave the stock a “hold” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. reduced their price target on shares of TPG from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. 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 price target for the company. Finally, Cowen restated a “hold” rating on shares of TPG in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, TPG has a consensus rating of “Moderate Buy” and a consensus price target of $69.25.

TPG Stock Up 1.5%

Shares of TPG stock opened at $66.96 on Friday. TPG Inc. has a 1 year low of $37.52 and a 1 year high of $70.38. The firm has a market cap of $25.32 billion, a price-to-earnings ratio of 744.00, a PEG ratio of 0.96 and a beta of 1.51. The company has a 50-day moving average of $61.10 and a 200 day moving average of $59.08. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

TPG (NASDAQ:TPG) last announced 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 return on equity of 25.79% and a net margin of 2.83%.The business had revenue of $509.40 million during the quarter, compared to analysts’ expectations of $510.32 million. During the same quarter last year, the company posted $0.45 EPS. TPG’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were paid a dividend of $0.45 per share. The ex-dividend date was Friday, November 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. TPG’s payout ratio is presently 2,000.00%.

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.