Short Interest in TPG Inc. (NASDAQ:TPG) Drops By 15.5%

TPG Inc. (NASDAQ:TPG - Get Free Report) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 4,620,000 shares, a decrease of 15.5% from the September 30th total of 5,470,000 shares. Based on an average daily volume of 905,500 shares, the days-to-cover ratio is presently 5.1 days. Approximately 5.5% of the shares of the stock are sold short.

TPG Stock Up 1.4 %

Shares of TPG stock traded up $0.93 during trading on Monday, hitting $68.26. 1,202,090 shares of the stock traded hands, compared to its average volume of 850,734. The firm has a market cap of $24.90 billion, a P/E ratio of -195.02, a price-to-earnings-growth ratio of 1.07 and a beta of 1.53. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. TPG has a 52-week low of $26.81 and a 52-week high of $69.86. The stock's fifty day simple moving average is $57.06 and its 200 day simple moving average is $48.43.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. The firm had revenue of $744.19 million for the quarter, compared to analyst estimates of $449.34 million. TPG had a return on equity of 24.27% and a net margin of 1.08%. During the same quarter last year, the firm posted $0.26 earnings per share. On average, equities analysts predict that TPG will post 1.96 earnings per share for the current fiscal year.

TPG Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, August 16th. This represents a $1.68 annualized dividend and a dividend yield of 2.46%. This is a positive change from TPG's previous quarterly dividend of $0.41. TPG's dividend payout ratio (DPR) is currently -479.99%.

Institutional Investors Weigh In On TPG

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new stake in TPG during the second quarter valued at about $25,000. Signaturefd LLC boosted its position in TPG by 21.3% during the third quarter. Signaturefd LLC now owns 1,070 shares of the company's stock valued at $62,000 after purchasing an additional 188 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in TPG in the first quarter worth about $112,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in TPG in the first quarter worth about $151,000. Finally, Ritholtz Wealth Management acquired a new stake in TPG in the third quarter worth about $222,000. Institutional investors own 86.79% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on TPG. TD Cowen dropped their price target on TPG from $44.00 to $42.00 and set a "hold" rating for the company in a research note on Monday, July 8th. JPMorgan Chase & Co. upped their price target on TPG from $44.00 to $49.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their price target on TPG from $60.00 to $63.00 and gave the stock a "buy" rating in a research note on Thursday, October 3rd. Evercore ISI increased their target price on TPG from $46.00 to $60.00 and gave the company an "in-line" rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company increased their target price on TPG from $60.00 to $67.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, TPG presently has an average rating of "Hold" and a consensus target price of $52.25.

About TPG

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.