Geode Capital Management LLC Increases Holdings in TPG Inc. $TPG

Geode Capital Management LLC raised its position in TPG Inc. (NASDAQ:TPG) by 5.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,058,146 shares of the company’s stock after buying an additional 216,359 shares during the period. Geode Capital Management LLC owned approximately 1.07% of TPG worth $259,102,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TPG. International Assets Investment Management LLC acquired a new stake in shares of TPG in the 4th quarter valued at about $38,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 valued at $38,000 after purchasing an additional 524 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of TPG by 2,496.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 675 shares of the company’s stock valued at $43,000 after purchasing an additional 649 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of TPG by 252.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 790 shares of the company’s stock valued at $45,000 after purchasing an additional 566 shares in the last quarter. Finally, Optiver Holding B.V. acquired a new stake in shares of TPG in the 3rd quarter valued at about $51,000. 94.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays upped their target price on shares of TPG from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Wall Street Zen lowered shares of TPG from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings lowered shares of TPG from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. UBS Group increased their price objective on shares of TPG from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Finally, Evercore set a $47.00 price objective on shares of TPG in a research note on Tuesday, April 21st. Twelve investment 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. According to MarketBeat.com, TPG presently has an average rating of “Moderate Buy” and a consensus price target of $61.75.

TPG Price Performance

TPG opened at $42.39 on Wednesday. The firm has a market cap of $16.29 billion, a price-to-earnings ratio of 192.69, a price-to-earnings-growth ratio of 0.78 and a beta of 1.44. TPG Inc. has a fifty-two week low of $36.95 and a fifty-two week high of $70.38. The company’s 50-day moving average price is $41.77 and its 200 day moving average price is $51.37. 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) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.70 EPS 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 company had revenue of $557.18 million for the quarter, compared to analyst estimates of $608.07 million. During the same quarter last year, the business earned $0.48 earnings per share. TPG’s revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts expect that TPG Inc. will post 2.86 earnings per share for the current year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were paid a $0.59 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.36 annualized dividend and a dividend yield of 5.6%. TPG’s dividend payout ratio (DPR) is presently 1,072.73%.

TPG Company 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.