Harvest Fund Management Co. Ltd Trims Stake in TPG Inc. (NASDAQ:TPG)

Harvest Fund Management Co. Ltd lessened its stake in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 87.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,318 shares of the company's stock after selling 9,359 shares during the period. Harvest Fund Management Co. Ltd's holdings in TPG were worth $83,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. increased its holdings in shares of TPG by 10.1% during the third quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company's stock valued at $161,921,000 after acquiring an additional 244,373 shares in the last quarter. Lord Abbett & CO. LLC grew its position in TPG by 146.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company's stock valued at $96,166,000 after purchasing an additional 992,818 shares during the period. Geode Capital Management LLC increased its stake in TPG by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company's stock valued at $83,023,000 after purchasing an additional 102,663 shares in the last quarter. State Street Corp increased its stake in TPG by 5.0% during the 3rd quarter. State Street Corp now owns 1,421,981 shares of the company's stock valued at $81,849,000 after purchasing an additional 67,597 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in TPG by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 770,998 shares of the company's stock worth $44,379,000 after buying an additional 31,638 shares during the last quarter. 94.03% of the stock is owned by institutional investors.

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TPG Stock Performance

NASDAQ:TPG traded down $1.79 during trading on Thursday, reaching $49.54. The company's stock had a trading volume of 1,176,426 shares, compared to its average volume of 993,813. TPG Inc. has a 12 month low of $39.18 and a 12 month high of $72.98. The firm has a market cap of $18.30 billion, a price-to-earnings ratio of -112.59, a price-to-earnings-growth ratio of 0.80 and a beta of 1.54. The firm has a 50 day moving average of $58.00 and a 200-day moving average of $61.87. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.25 and a current ratio of 0.18.

TPG (NASDAQ:TPG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.10. TPG had a net margin of 0.67% and a return on equity of 24.66%. Research analysts expect that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued a dividend of $0.53 per share. The ex-dividend date was Friday, February 21st. This is an increase from TPG's previous quarterly dividend of $0.38. This represents a $2.12 annualized dividend and a yield of 4.28%. TPG's dividend payout ratio is -481.82%.

Insider Buying and Selling

In other TPG news, General Counsel Bradford Berenson sold 2,509 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total value of $125,550.36. Following the completion of the transaction, the general counsel now owns 290,841 shares in the company, valued at $14,553,683.64. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah M. Messemer sold 1,695 shares of the company's stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $61.91, for a total value of $104,937.45. Following the sale, the director now owns 15,841 shares in the company, valued at approximately $980,716.31. This represents a 9.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 76.48% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on TPG shares. Keefe, Bruyette & Woods boosted their target price on shares of TPG from $62.00 to $70.00 and gave the stock a "market perform" rating in a research report on Friday, December 20th. BMO Capital Markets boosted their price objective on TPG from $60.00 to $73.00 and gave the stock a "market perform" rating in a report on Thursday, December 19th. Wells Fargo & Company dropped their target price on TPG from $78.00 to $66.00 and set an "overweight" rating on the stock in a report on Thursday, March 20th. Evercore ISI upped their price target on TPG from $65.00 to $66.00 and gave the stock an "in-line" rating in a report on Wednesday, February 12th. Finally, JMP Securities reissued a "market perform" rating on shares of TPG in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, TPG has a consensus rating of "Hold" and a consensus price target of $63.18.

TPG Company 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.