CANADA LIFE ASSURANCE Co Cuts Stake in TPG Inc. (NASDAQ:TPG)

CANADA LIFE ASSURANCE Co decreased its position in shares of TPG Inc. (NASDAQ:TPG - Free Report) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,695 shares of the company's stock after selling 7,321 shares during the period. CANADA LIFE ASSURANCE Co's holdings in TPG were worth $4,503,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TPG. Vanguard Group Inc. lifted its position in TPG by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 8,266,047 shares of the company's stock worth $519,438,000 after purchasing an additional 162,107 shares during the period. Franklin Resources Inc. lifted its position in shares of TPG by 10.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company's stock worth $161,921,000 after buying an additional 244,373 shares during the last quarter. Lord Abbett & CO. LLC grew its position in TPG by 146.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company's stock valued at $96,166,000 after acquiring an additional 992,818 shares during the last quarter. JPMorgan Chase & Co. raised its stake in TPG by 2,515.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company's stock worth $104,296,000 after acquiring an additional 1,596,254 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of TPG in the 4th quarter valued at approximately $100,675,000. Institutional investors own 94.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup decreased their target price on shares of TPG from $72.00 to $56.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Evercore ISI upped their target price on TPG from $65.00 to $66.00 and gave the stock an "in-line" rating in a report on Wednesday, February 12th. JMP Securities reissued a "market perform" rating on shares of TPG in a report on Thursday, February 13th. TD Cowen reduced their target price on shares of TPG from $65.00 to $42.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Finally, Bank of America dropped their target price 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $58.25.

Insider Buying and Selling at TPG

In related news, General Counsel Bradford Berenson sold 2,509 shares of the company's stock in a transaction that occurred on 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 approximately $14,553,683.64. This represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 76.48% of the company's stock.

TPG Stock Up 0.5 %

TPG traded up $0.21 during mid-day trading on Monday, reaching $46.75. 611,348 shares of the stock were exchanged, compared to its average volume of 1,132,623. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.25 and a current ratio of 0.18. The stock has a market capitalization of $17.27 billion, a PE ratio of -106.25, a price-to-earnings-growth ratio of 0.80 and a beta of 1.58. TPG Inc. has a 1 year low of $37.52 and a 1 year high of $72.98. The company has a 50 day moving average price of $48.34 and a two-hundred day moving average price of $59.72.

TPG (NASDAQ:TPG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.10. TPG had a net margin of 0.67% and a return on equity of 24.66%. As a group, research analysts anticipate 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 given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.12 annualized dividend and a dividend yield of 4.53%. This is an increase from TPG's previous quarterly dividend of $0.38. TPG's dividend payout ratio is currently -481.82%.

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.