Renaissance Technologies LLC Sells 70,834 Shares of TPG Inc. (NASDAQ:TPG)

Renaissance Technologies LLC reduced its position in TPG Inc. (NASDAQ:TPG - Free Report) by 17.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,566 shares of the company's stock after selling 70,834 shares during the period. Renaissance Technologies LLC owned approximately 0.09% of TPG worth $20,396,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TPG. Norges Bank acquired a new stake in shares of TPG during the 4th quarter valued at approximately $100,675,000. JPMorgan Chase & Co. boosted its holdings in shares of TPG by 2,515.8% in the 4th 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. Lord Abbett & CO. LLC raised its stake in TPG by 146.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company's stock worth $96,166,000 after acquiring an additional 992,818 shares during the period. Barclays PLC lifted its holdings in TPG by 14,739.3% in the third quarter. Barclays PLC now owns 602,029 shares of the company's stock worth $34,652,000 after acquiring an additional 597,972 shares during the last quarter. Finally, Burkehill Global Management LP acquired a new position in TPG in the fourth quarter valued at approximately $31,420,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

TPG Stock Performance

Shares of NASDAQ TPG traded up $0.01 during trading hours on Friday, reaching $43.51. 1,268,373 shares of the stock were exchanged, compared to its average volume of 1,112,456. The stock's fifty day simple moving average is $50.20 and its 200 day simple moving average is $60.33. The firm has a market capitalization of $16.08 billion, a price-to-earnings ratio of -98.89, a P/E/G ratio of 0.80 and a beta of 1.58. TPG Inc. has a 52 week low of $37.52 and a 52 week high of $72.98. 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 issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.62 EPS 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%. Sell-side analysts predict that TPG Inc. will post 2.52 EPS for the current year.

TPG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a $0.53 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.12 annualized dividend and a yield of 4.87%. This is an increase from TPG's previous quarterly dividend of $0.38. TPG's dividend payout ratio (DPR) is currently -481.82%.

Insider Activity

In other news, General Counsel Bradford Berenson sold 2,509 shares of TPG stock in a transaction on 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 of the company's stock, valued at approximately $14,553,683.64. The trade was a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 76.48% of the stock is owned by company insiders.

Analyst Ratings Changes

TPG has been the topic of several recent research reports. BMO Capital Markets lifted their price objective on shares of TPG from $60.00 to $73.00 and gave the company a "market perform" rating in a research report on Thursday, December 19th. Wells Fargo & Company cut their target price on TPG from $66.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. JMP Securities restated a "market perform" rating on shares of TPG in a research report on Thursday, February 13th. Citigroup reduced their price objective on shares of TPG from $72.00 to $56.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Bank of America cut their price target on shares of TPG from $72.00 to $68.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TPG presently has an average rating of "Hold" and an average price target of $58.25.

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.