Rhumbline Advisers Sells 3,266 Shares of TPG Inc. $TPG

Rhumbline Advisers lowered its stake in TPG Inc. (NASDAQ:TPG) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,921 shares of the company’s stock after selling 3,266 shares during the period. Rhumbline Advisers’ holdings in TPG were worth $3,885,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in TPG by 69.1% in the first quarter. Wellington Management Group LLP now owns 10,693,179 shares of the company’s stock valued at $507,177,000 after acquiring an additional 4,369,618 shares in the last quarter. Vanguard Group Inc. raised its holdings in TPG by 12.5% during the 1st quarter. Vanguard Group Inc. now owns 9,303,272 shares of the company’s stock valued at $441,254,000 after buying an additional 1,037,225 shares during the period. Temasek Holdings Private Ltd raised its holdings in TPG by 114.2% during the 1st quarter. Temasek Holdings Private Ltd now owns 8,529,631 shares of the company’s stock valued at $404,560,000 after buying an additional 4,548,452 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in TPG by 18.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,669,590 shares of the company’s stock valued at $126,619,000 after buying an additional 416,520 shares during the period. Finally, T. Rowe Price Investment Management Inc. raised its holdings in TPG by 28.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,201,727 shares of the company’s stock valued at $104,428,000 after buying an additional 481,418 shares during the period. Institutional investors own 94.03% of the company’s stock.

Insider Activity

In related news, Director Deborah M. Messemer sold 1,796 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total transaction of $101,150.72. Following the sale, the director owned 16,807 shares of the company’s stock, valued at $946,570.24. This trade represents 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.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Zacks Research upgraded TPG from a “hold” rating to a “strong-buy” rating in a report on Monday, September 8th. Wells Fargo & Company lifted their target price on TPG from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. BNP Paribas upgraded TPG to a “strong-buy” rating in a research report on Wednesday, July 30th. Wolfe Research assumed coverage on TPG in a research report on Friday, June 20th. They set an “outperform” rating and a $60.00 target price for the company. Finally, Citigroup lifted their target price on TPG from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.57.

TPG Price Performance

TPG opened at $61.29 on Monday. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $72.98. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $58.81 and its 200-day simple moving average is $52.10. The company has a market capitalization of $23.16 billion, a price-to-earnings ratio of -322.58, a PEG ratio of 1.28 and a beta of 1.56.

TPG (NASDAQ:TPG) last posted its quarterly earnings results 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. TPG had a return on equity of 25.79% and a net margin of 1.60%.The business had revenue of $495.12 million for the quarter, compared to the consensus estimate of $470.57 million. During the same quarter in the prior year, the company earned $0.49 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts anticipate that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were 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 was Monday, August 18th. This is a positive change from TPG’s previous quarterly dividend of $0.41. TPG’s dividend payout ratio is currently -1,242.11%.

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.