TPG Inc. $TPG Stake Lifted by Legal & General Group Plc

Legal & General Group Plc increased its stake in TPG Inc. (NASDAQ:TPG) by 142.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 474,488 shares of the company’s stock after acquiring an additional 278,511 shares during the period. Legal & General Group Plc owned approximately 0.13% of TPG worth $30,291,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TPG. Darlington Partners Capital Management LP bought a new position in shares of TPG in the second quarter valued at approximately $258,581,000. Bank of America Corp DE boosted its holdings in shares of TPG by 72.7% in the third quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock valued at $204,960,000 after acquiring an additional 1,501,808 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of TPG in the second quarter valued at approximately $54,088,000. Goldman Sachs Group Inc. boosted its holdings in shares of TPG by 4,109.1% in the first 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 in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of TPG by 262.0% in the third quarter. First Trust Advisors LP now owns 747,913 shares of the company’s stock valued at $42,968,000 after acquiring an additional 541,304 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on TPG. TD Cowen decreased their price objective on shares of TPG from $48.00 to $45.00 and set a “hold” rating for the company in a report on Monday, May 18th. Barclays increased their price objective on shares of TPG from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, May 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $61.00 price objective on shares of TPG in a report on Tuesday, May 5th. Citigroup upgraded shares of TPG to an “outperform” rating in a report on Monday, February 9th. Finally, Citizens Jmp upgraded shares of TPG from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Monday, February 9th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.75.

TPG Stock Up 1.7%

TPG stock opened at $42.57 on Friday. TPG Inc. has a 12 month low of $36.95 and a 12 month high of $70.38. The firm has a market cap of $16.36 billion, a PE ratio of 193.51, a P/E/G ratio of 0.77 and a beta of 1.47. The firm has a 50 day simple moving average of $41.73 and a 200 day simple moving average of $51.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.33 and a quick ratio of 0.33.

TPG (NASDAQ:TPG) last released its 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 business had revenue of $557.18 million during the quarter, compared to analyst estimates of $608.07 million. During the same period in the prior year, the business earned $0.48 earnings per share. The business’s quarterly revenue was up 14.1% on a year-over-year basis. Equities research analysts forecast that TPG Inc. will post 2.86 earnings per share for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.36 annualized dividend and a yield of 5.5%. TPG’s dividend payout ratio is currently 1,072.73%.

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.