South Street Advisors LLC cut its stake in TPG Inc. (NASDAQ:TPG - Free Report) by 4.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 388,180 shares of the company's stock after selling 16,235 shares during the period. TPG comprises about 3.4% of South Street Advisors LLC's holdings, making the stock its 7th largest holding. South Street Advisors LLC owned about 0.11% of TPG worth $22,344,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPG. KBC Group NV raised its stake in TPG by 25.1% in the third quarter. KBC Group NV now owns 2,405 shares of the company's stock valued at $138,000 after buying an additional 482 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in TPG in the third quarter valued at $269,000. State of New Jersey Common Pension Fund D acquired a new stake in TPG in the third quarter valued at $2,260,000. Covestor Ltd raised its stake in TPG by 1,128.3% in the third quarter. Covestor Ltd now owns 1,867 shares of the company's stock valued at $107,000 after buying an additional 1,715 shares in the last quarter. Finally, Shoker Investment Counsel Inc. acquired a new stake in TPG in the third quarter valued at $203,000. 86.79% of the stock is currently owned by hedge funds and other institutional investors.
TPG Trading Down 1.9 %
TPG traded down $1.23 during trading on Friday, hitting $64.67. The company's stock had a trading volume of 2,019,267 shares, compared to its average volume of 876,200. The firm's 50 day moving average price is $61.68 and its 200-day moving average price is $50.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.25 and a quick ratio of 0.25. The stock has a market cap of $23.59 billion, a PE ratio of -190.21, a PEG ratio of 1.10 and a beta of 1.49. TPG Inc. has a twelve month low of $33.69 and a twelve month high of $70.67.
TPG (NASDAQ:TPG - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. TPG had a return on equity of 23.45% and a net margin of 0.69%. During the same period in the previous year, the firm posted $0.56 EPS. On average, analysts expect that TPG Inc. will post 1.94 earnings per share for the current year.
TPG Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.35%. TPG's payout ratio is -447.06%.
Analysts Set New Price Targets
A number of research firms have recently commented on TPG. JPMorgan Chase & Co. lifted their target price on TPG from $44.00 to $49.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. TD Cowen dropped their price target on TPG from $62.00 to $58.00 and set a "hold" rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on TPG from $67.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Evercore ISI lifted their price objective on TPG from $46.00 to $60.00 and gave the company an "in-line" rating in a report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on TPG from $67.00 to $69.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, TPG currently has an average rating of "Hold" and an average price target of $57.67.
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TPG Company Profile
(
Free Report)
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.
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