Norges Bank Buys Shares of 1,602,084 TPG Inc. (NASDAQ:TPG)

Norges Bank acquired a new stake in TPG Inc. (NASDAQ:TPG - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,602,084 shares of the company's stock, valued at approximately $100,675,000. Norges Bank owned about 0.44% of TPG at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in shares of TPG by 2,515.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company's stock valued at $104,296,000 after buying an additional 1,596,254 shares during the period. Keystone Investors PTE Ltd. bought a new position in TPG during the 4th quarter worth approximately $12,705,000. Partners Group Holding AG raised its holdings in TPG by 3.8% during the 4th quarter. Partners Group Holding AG now owns 345,254 shares of the company's stock worth $21,696,000 after purchasing an additional 12,627 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of TPG by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 8,266,047 shares of the company's stock valued at $519,438,000 after purchasing an additional 162,107 shares during the last quarter. Finally, LPL Financial LLC increased its position in shares of TPG by 78.3% during the fourth quarter. LPL Financial LLC now owns 60,036 shares of the company's stock worth $3,773,000 after buying an additional 26,370 shares during the period. 94.03% of the stock is currently owned by institutional investors and hedge funds.

TPG Stock Down 3.2 %

Shares of TPG stock traded down $1.34 on Friday, hitting $40.99. The company had a trading volume of 5,668,175 shares, compared to its average volume of 1,049,511. The stock has a market capitalization of $15.14 billion, a price-to-earnings ratio of -93.16, a P/E/G 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 1 year low of $37.52 and a 1 year high of $72.98. The stock has a 50 day moving average of $54.99 and a 200-day moving average of $61.54.

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TPG (NASDAQ:TPG - Get Free Report) last issued its quarterly earnings data 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 return on equity of 24.66% and a net margin of 0.67%. As a group, sell-side analysts forecast that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a $0.53 dividend. This is a positive change from TPG's previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.12 annualized dividend and a yield of 5.17%. TPG's dividend payout ratio (DPR) is -481.82%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on TPG. Wells Fargo & Company cut their price target on shares of TPG from $78.00 to $66.00 and set an "overweight" rating on the stock in a research report on Thursday, March 20th. The Goldman Sachs Group cut their target price on TPG from $70.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday. JMP Securities reiterated a "market perform" rating on shares of TPG in a report on Thursday, February 13th. Evercore ISI increased 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, Bank of America lowered their price objective on shares of TPG from $72.00 to $68.00 and set a "buy" rating for the company in a research note on Friday. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $62.42.

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.