Lord Abbett & CO. LLC Reduces Stock Position in TPG Inc. (NASDAQ:TPG)

Lord Abbett & CO. LLC lessened its stake in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,194,198 shares of the company's stock after selling 476,521 shares during the period. Lord Abbett & CO. LLC owned about 0.33% of TPG worth $75,043,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TPG. Treasurer of the State of North Carolina increased its stake in shares of TPG by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 36,946 shares of the company's stock worth $2,322,000 after purchasing an additional 230 shares in the last quarter. Shoker Investment Counsel Inc. increased its stake in shares of TPG by 10.4% in the fourth quarter. Shoker Investment Counsel Inc. now owns 3,889 shares of the company's stock worth $244,000 after purchasing an additional 366 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of TPG by 6.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 8,021 shares of the company's stock worth $504,000 after purchasing an additional 498 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of TPG in the fourth quarter worth about $33,000. Finally, Mariner LLC increased its stake in shares of TPG by 16.3% in the fourth quarter. Mariner LLC now owns 4,151 shares of the company's stock worth $261,000 after purchasing an additional 582 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company's stock.

TPG Price Performance

TPG traded up $0.21 during trading on Monday, reaching $46.75. The stock had a trading volume of 611,348 shares, compared to its average volume of 1,132,623. The stock has a market cap of $17.27 billion, a PE ratio of -106.25, a PEG ratio of 0.80 and a beta of 1.58. 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 Inc. has a one year low of $37.52 and a one year high of $72.98. The business has a 50-day moving average of $48.07 and a 200-day moving average of $59.62.

TPG (NASDAQ:TPG - Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. As a group, equities research analysts anticipate that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date was Friday, February 21st. This is a boost from TPG's previous quarterly dividend of $0.38. TPG's dividend payout ratio is currently -481.82%.

Insider Activity at TPG

In other TPG news, General Counsel Bradford Berenson sold 2,509 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total transaction of $125,550.36. Following the completion of the sale, the general counsel now directly owns 290,841 shares in the company, valued at $14,553,683.64. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 76.48% of the stock is owned by insiders.

Analysts Set New Price Targets

TPG has been the subject of several recent research reports. Bank of America reduced their target price on shares of TPG from $72.00 to $68.00 and set a "buy" rating for the company in a research note on Friday, April 4th. The Goldman Sachs Group reduced their price objective on shares of TPG from $70.00 to $63.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Evercore ISI increased their target price on shares of TPG from $65.00 to $66.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 12th. Wells Fargo & Company reduced their price target on shares of TPG from $66.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Finally, TD Cowen dropped their price objective on TPG from $65.00 to $42.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $58.25.

TPG 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.