Comerica Bank Increases Holdings in TPG Inc. (NASDAQ:TPG)

Comerica Bank increased its position in shares of TPG Inc. (NASDAQ:TPG) by 71.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,080 shares of the company’s stock after purchasing an additional 450 shares during the period. Comerica Bank’s holdings in TPG were worth $68,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of TPG. R Squared Ltd acquired a new stake in shares of TPG in the fourth quarter valued at $97,000. Stifel Financial Corp acquired a new position in TPG during the 4th quarter worth $206,000. Shoker Investment Counsel Inc. increased its holdings in TPG by 10.4% during the 4th quarter. Shoker Investment Counsel Inc. now owns 3,889 shares of the company’s stock worth $244,000 after purchasing an additional 366 shares during the period. Sterling Capital Management LLC raised its position in TPG by 48.2% in the 4th quarter. Sterling Capital Management LLC now owns 4,134 shares of the company’s stock valued at $260,000 after purchasing an additional 1,345 shares in the last quarter. Finally, Mariner LLC raised its position in TPG by 16.3% in the 4th quarter. Mariner LLC now owns 4,151 shares of the company’s stock valued at $261,000 after purchasing an additional 582 shares in the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Evercore ISI boosted their price objective on TPG from $65.00 to $66.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 12th. Citigroup decreased their price target on TPG from $72.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. TD Cowen lowered their price objective on TPG from $65.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group decreased their target price on TPG from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Finally, Bank of America lowered their price target on TPG from $72.00 to $68.00 and set a “buy” rating for the company in a report on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.08.

Insider Transactions at TPG

In other news, General Counsel Bradford Berenson sold 2,509 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total value 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 $14,553,683.64. This trade represents a 0.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 69.98% of the company’s stock.

TPG Stock Performance

NASDAQ TPG opened at $51.91 on Monday. The firm has a market cap of $19.18 billion, a P/E ratio of -117.98, 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 business’s 50-day moving average price is $47.05 and its 200 day moving average price is $57.96. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36.

TPG (NASDAQ:TPG) last announced its earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). TPG had a net margin of 0.67% and a return on equity of 24.66%. The company had revenue of $476.26 million during the quarter, compared to analysts’ expectations of $459.75 million. During the same quarter last year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.16%. The ex-dividend date is Monday, May 19th. TPG’s dividend payout ratio (DPR) is presently -496.97%.

About TPG

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.