First Trust Advisors LP lifted its stake in TPG Inc. (NASDAQ:TPG – Get Rating) by 307.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 467,849 shares of the company’s stock after purchasing an additional 353,060 shares during the period. First Trust Advisors LP owned 0.15% of TPG worth $13,025,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of TPG. Capital International Investors purchased a new stake in shares of TPG in the 1st quarter worth $114,248,000. Capital Research Global Investors bought a new position in TPG in the 1st quarter worth $114,229,000. Vanguard Group Inc. bought a new position in TPG in the 1st quarter worth $89,216,000. Pendal Group Ltd bought a new position in TPG in the 3rd quarter worth $78,679,000. Finally, Goldman Sachs Group Inc. bought a new position in TPG in the 1st quarter worth $30,620,000. 12.94% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have commented on TPG shares. Morgan Stanley increased their price objective on shares of TPG from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, November 14th. UBS Group increased their price objective on shares of TPG from $35.00 to $48.00 and gave the company a “buy” rating in a report on Tuesday, November 15th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $36.00 price target on shares of TPG in a report on Wednesday, February 22nd. Keefe, Bruyette & Woods increased their price target on shares of TPG from $37.00 to $38.00 and gave the company a “market perform” rating in a report on Thursday, February 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of TPG from $43.00 to $44.00 in a report on Wednesday, January 11th. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, TPG has an average rating of “Hold” and a consensus price target of $35.15.
TPG Stock Down 8.2 %
TPG (NASDAQ:TPG – Get Rating) last posted its quarterly earnings data on Wednesday, February 15th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The firm had revenue of $350.18 million during the quarter, compared to analysts’ expectations of $303.48 million. During the same period last year, the company earned $0.56 earnings per share. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities research analysts anticipate that TPG Inc. will post 1.86 earnings per share for the current fiscal year.
TPG Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Monday, February 27th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 24th. This is a positive change from TPG’s previous quarterly dividend of $0.26. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.93%. TPG’s dividend payout ratio (DPR) is -999.95%.
TPG Inc operates as an alternative asset manager worldwide. It offers investment management services to unconsolidated funds, collateralized loan obligations, and other vehicles; monitoring services to portfolio companies; advisory services, debt and equity arrangements, and underwriting and placement services; and capital structuring and other advisory services to portfolio companies.
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