Allworth Financial LP Raises Position in TPG Inc. (NASDAQ:TPG)

Allworth Financial LP increased its holdings in TPG Inc. (NASDAQ:TPG) by 132.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 648 shares of the company’s stock after purchasing an additional 369 shares during the period. Allworth Financial LP’s holdings in TPG were worth $30,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in TPG during the fourth quarter worth approximately $615,000. Swiss National Bank grew its stake in shares of TPG by 4.8% during the 4th quarter. Swiss National Bank now owns 151,500 shares of the company’s stock valued at $9,520,000 after buying an additional 6,900 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of TPG by 6.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 8,021 shares of the company’s stock worth $504,000 after buying an additional 498 shares during the last quarter. Xponance Inc. raised its position in shares of TPG by 21.7% in the 4th quarter. Xponance Inc. now owns 5,886 shares of the company’s stock worth $370,000 after buying an additional 1,051 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of TPG in the 4th quarter worth $4,738,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

TPG Trading Down 1.1%

TPG opened at $56.09 on Friday. The firm’s 50 day moving average is $51.38 and its 200-day moving average is $53.22. TPG Inc. has a 52-week low of $37.52 and a 52-week high of $72.98. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $20.89 billion, a P/E ratio of -169.97, a P/E/G ratio of 1.21 and a beta of 1.55.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). TPG had a net margin of 0.90% and a return on equity of 24.47%. The firm had revenue of $476.26 million for the quarter, compared to analyst estimates of $459.75 million. During the same period in the previous year, the business posted $0.49 earnings per share. TPG’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts expect that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.64 annualized dividend and a dividend yield of 2.92%. TPG’s dividend payout ratio is presently -496.97%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Citigroup boosted their price target on TPG from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. UBS Group decreased their target price on TPG from $72.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, May 1st. TD Cowen dropped their target price on shares of TPG from $65.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Evercore ISI lifted their price target on shares of TPG from $49.00 to $52.00 and gave the company an “in-line” rating in a research report on Thursday, July 10th. Finally, Wolfe Research assumed coverage on shares of TPG in a research note on Friday, June 20th. They set an “outperform” rating and a $60.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.77.

Insider Transactions at TPG

In other TPG news, major shareholder Samantha Holloway sold 21,000,000 shares of TPG stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total transaction of $977,970,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total value of $101,150.72. Following the transaction, the director owned 16,807 shares of the company’s stock, valued at approximately $946,570.24. This trade represents a 9.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 69.98% of the stock is currently owned by insiders.

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.