Assenagon Asset Management S.A. Buys Shares of 78,567 TPG Inc. $TPG

Assenagon Asset Management S.A. bought a new stake in shares of TPG Inc. (NASDAQ:TPG) in the first quarter, Holdings Channel reports. The fund bought 78,567 shares of the company’s stock, valued at approximately $3,183,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPG. Comerica Bank lifted its stake in TPG by 43.1% in the first 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 last quarter. Royal Bank of Canada raised its stake in TPG by 86.3% in the 1st quarter. Royal Bank of Canada now owns 7,901 shares of the company’s stock valued at $375,000 after acquiring an additional 3,659 shares during the period. Goldman Sachs Group Inc. raised its stake in TPG by 4,109.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock valued at $27,083,000 after acquiring an additional 557,438 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in 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 purchasing an additional 294,941 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in TPG during the second quarter valued at about $216,000. 94.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of TPG in a research report on Monday, May 4th. UBS Group upped their price target on shares of TPG from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Morgan Stanley set a $60.00 price target on shares of TPG in a research note on Tuesday, April 21st. Evercore set a $47.00 price objective on shares of TPG in a report on Tuesday, April 21st. Finally, TD Cowen reduced their price objective on shares of TPG from $48.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Twelve analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $61.75.

TPG Price Performance

NASDAQ:TPG opened at $40.55 on Wednesday. TPG Inc. has a 52-week low of $36.95 and a 52-week high of $70.38. The stock has a fifty day moving average of $42.37 and a 200 day moving average of $48.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of 184.33, a P/E/G ratio of 0.70 and a beta of 1.44.

TPG (NASDAQ:TPG) last announced its earnings results on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. TPG had a return on equity of 28.13% and a net margin of 3.81%.The business had revenue of $557.18 million for the quarter, compared to analyst estimates of $608.07 million. During the same period in the prior year, the company earned $0.48 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, research analysts expect that TPG Inc. will post 2.86 EPS for the current fiscal year.

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Monday, May 11th. TPG’s dividend payout ratio is 1,072.73%.

About TPG

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.