Cerity Partners LLC Acquires 136,374 Shares of TPG Inc. $TPG

Cerity Partners LLC boosted its stake in shares of TPG Inc. (NASDAQ:TPG) by 195.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 206,266 shares of the company’s stock after acquiring an additional 136,374 shares during the quarter. Cerity Partners LLC owned approximately 0.05% of TPG worth $11,850,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Comerica Bank lifted its position in shares of TPG by 43.1% during the first quarter. Comerica Bank now owns 1,545 shares of the company’s stock worth $73,000 after purchasing an additional 465 shares in the last quarter. Royal Bank of Canada raised its position in TPG by 86.3% in the 1st quarter. Royal Bank of Canada now owns 7,901 shares of the company’s stock worth $375,000 after purchasing an additional 3,659 shares during the last quarter. Goldman Sachs Group Inc. raised its position in TPG by 4,109.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock worth $27,083,000 after purchasing an additional 557,438 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in TPG by 156.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company’s stock worth $22,941,000 after buying an additional 294,941 shares in the last quarter. Finally, Strs Ohio bought a new position in TPG in the 1st quarter valued at $1,057,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

TPG Price Performance

TPG stock opened at $66.79 on Friday. The firm has a market capitalization of $25.25 billion, a P/E ratio of 742.11, a PEG ratio of 0.98 and a beta of 1.51. TPG Inc. has a 1 year low of $37.52 and a 1 year high of $70.38. The business has a 50-day moving average of $61.34 and a 200-day moving average of $59.24. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47.

TPG (NASDAQ:TPG) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). TPG had a net margin of 2.83% and a return on equity of 25.79%. The firm had revenue of $509.40 million during the quarter, compared to analyst estimates of $510.32 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. On average, equities analysts anticipate that TPG Inc. will post 2.52 EPS for the current year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, November 14th. TPG’s dividend payout ratio (DPR) is currently 2,000.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets assumed coverage on TPG in a research report on Friday, October 3rd. They set an “outperform” rating and a $65.00 target price for the company. Zacks Research cut TPG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Morgan Stanley upped their target price on shares of TPG from $58.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Cowen reaffirmed a “hold” rating on shares of TPG in a research note on Wednesday, November 5th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $80.00 price target on shares of TPG in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $69.25.

TPG Profile

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.