Northern Trust Corp Decreases Stock Holdings in TPG Inc. $TPG

Northern Trust Corp decreased its holdings in shares of TPG Inc. (NASDAQ:TPG) by 22.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,726 shares of the company’s stock after selling 118,761 shares during the period. Northern Trust Corp owned about 0.11% of TPG worth $19,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPG. Vulcan Value Partners LLC purchased a new position in TPG in the 1st quarter valued at $86,332,000. Vanguard Group Inc. lifted its holdings in TPG by 12.5% in the 1st quarter. Vanguard Group Inc. now owns 9,303,272 shares of the company’s stock valued at $441,254,000 after purchasing an additional 1,037,225 shares in the last quarter. Millennium Management LLC lifted its holdings in TPG by 66.8% in the 4th quarter. Millennium Management LLC now owns 2,243,815 shares of the company’s stock valued at $141,001,000 after purchasing an additional 898,943 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in TPG by 179.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 941,823 shares of the company’s stock valued at $59,184,000 after purchasing an additional 604,434 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in TPG in the 4th quarter valued at $20,549,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.

TPG Stock Down 0.5%

NASDAQ TPG opened at $60.35 on Tuesday. The business’s fifty day simple moving average is $57.63 and its 200-day simple moving average is $51.96. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45. The firm has a market cap of $22.80 billion, a PE ratio of -317.63, a P/E/G ratio of 1.26 and a beta of 1.56. TPG Inc. has a 52 week low of $37.52 and a 52 week high of $72.98.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.24. The firm had revenue of $495.12 million during the quarter, compared to the consensus estimate of $470.57 million. TPG had a return on equity of 25.79% and a net margin of 1.60%.The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $0.49 EPS. As a group, equities analysts anticipate that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, August 18th. This is a positive change from TPG’s previous quarterly dividend of $0.41. TPG’s dividend payout ratio is -1,242.11%.

Insider Activity

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total value of $101,150.72. Following the sale, the director owned 16,807 shares of the company’s stock, valued at $946,570.24. The trade was a 9.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 76.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. BNP Paribas upgraded TPG to a “strong-buy” rating in a report on Wednesday, July 30th. Wolfe Research assumed coverage on TPG in a report on Friday, June 20th. They issued an “outperform” rating and a $60.00 price objective on the stock. Wells Fargo & Company lifted their price target on TPG from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. BNP Paribas Exane upgraded TPG from a “neutral” rating to an “outperform” rating and set a $69.00 price target on the stock in a report on Wednesday, July 30th. Finally, The Goldman Sachs Group lifted their price target on TPG from $61.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, TPG presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.57.

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.