Mirae Asset Global Investments Co. Ltd. Purchases Shares of 11,750 TPG Inc. (NASDAQ:TPG)

Mirae Asset Global Investments Co. Ltd. acquired a new position in TPG Inc. (NASDAQ:TPG) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 11,750 shares of the company’s stock, valued at approximately $507,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of TPG by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,729,509 shares of the company’s stock worth $172,573,000 after acquiring an additional 182,885 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in TPG by 11.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 2,211,111 shares of the company’s stock worth $66,599,000 after purchasing an additional 229,481 shares during the period. Lord Abbett & CO. LLC lifted its position in TPG by 4.2% during the third quarter. Lord Abbett & CO. LLC now owns 813,182 shares of the company’s stock valued at $24,493,000 after purchasing an additional 32,573 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in TPG by 72.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 630,412 shares of the company’s stock valued at $18,988,000 after purchasing an additional 265,706 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in TPG by 35.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 582,317 shares of the company’s stock worth $17,539,000 after buying an additional 151,993 shares in the last quarter. 86.79% of the stock is currently owned by institutional investors.

TPG Price Performance

NASDAQ:TPG opened at $43.43 on Friday. The business’s 50-day moving average is $44.26 and its 200 day moving average is $39.38. TPG Inc. has a 12 month low of $24.74 and a 12 month high of $47.20. The company has a market capitalization of $15.84 billion, a P/E ratio of -1,085.48, a P/E/G ratio of 0.75 and a beta of 1.62. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.28.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.10. The business had revenue of $529.90 million for the quarter, compared to analysts’ expectations of $395.30 million. TPG had a return on equity of 18.69% and a net margin of 3.35%. The company’s revenue for the quarter was up 51.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. On average, equities research analysts forecast that TPG Inc. will post 2.09 earnings per share for the current fiscal year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.76 annualized dividend and a yield of 4.05%. TPG’s dividend payout ratio (DPR) is currently -4,398.90%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TPG shares. UBS Group lifted their price objective on TPG from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, April 12th. BMO Capital Markets reissued a “market perform” rating and issued a $42.00 price objective (up from $36.00) on shares of TPG in a research note on Wednesday, February 14th. TD Cowen started coverage on shares of TPG in a research note on Thursday, January 4th. They set a “market perform” rating and a $38.00 target price on the stock. Citigroup increased their price target on TPG from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of TPG in a report on Monday, April 1st. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.96.

Insiders Place Their Bets

In other TPG news, CAO Martin Davidson sold 39,317 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $41.64, for a total transaction of $1,637,159.88. Following the sale, the chief accounting officer now directly owns 30,991 shares of the company’s stock, valued at $1,290,465.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Joann Harris sold 1,739 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $41.64, for a total value of $72,411.96. Following the completion of the sale, the insider now owns 22,860 shares in the company, valued at approximately $951,890.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Martin Davidson sold 39,317 shares of TPG stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $41.64, for a total transaction of $1,637,159.88. Following the transaction, the chief accounting officer now directly owns 30,991 shares of the company’s stock, valued at $1,290,465.24. The disclosure for this sale can be found here. Insiders sold 2,434,129 shares of company stock valued at $101,357,132 in the last three months. Corporate insiders own 78.72% of the company’s stock.

TPG 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.