Citigroup Inc. Sells 109,609 Shares of TPG Inc. $TPG

Citigroup Inc. reduced its stake in TPG Inc. (NASDAQ:TPG) by 35.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 202,494 shares of the company’s stock after selling 109,609 shares during the quarter. Citigroup Inc. owned approximately 0.05% of TPG worth $11,633,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC increased its position in TPG by 19.5% in the third quarter. CWM LLC now owns 1,227 shares of the company’s stock worth $70,000 after buying an additional 200 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of TPG by 12.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,173 shares of the company’s stock valued at $114,000 after acquiring an additional 234 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in TPG by 3.1% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,828 shares of the company’s stock worth $411,000 after acquiring an additional 238 shares in the last quarter. Lazard Asset Management LLC raised its stake in TPG by 3.1% during the 2nd quarter. Lazard Asset Management LLC now owns 7,828 shares of the company’s stock worth $410,000 after acquiring an additional 238 shares during the period. Finally, Apollon Wealth Management LLC lifted its holdings in TPG by 2.3% during the third quarter. Apollon Wealth Management LLC now owns 15,244 shares of the company’s stock valued at $876,000 after purchasing an additional 337 shares in the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPG has been the subject of a number of analyst reports. Barclays set a $69.00 price objective on shares of TPG in a research note on Friday, February 6th. Citizens Jmp upgraded TPG from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research note on Monday, February 9th. Morgan Stanley set a $67.00 price target on TPG in a report on Tuesday, January 27th. UBS Group dropped their price objective on TPG from $83.00 to $60.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Royal Bank Of Canada began coverage on TPG in a research report on Monday, February 23rd. They set an “outperform” rating and a $59.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $67.67.

TPG Stock Down 3.4%

TPG opened at $43.42 on Friday. The company has a market capitalization of $16.42 billion, a PE ratio of 98.68, a price-to-earnings-growth ratio of 0.61 and a beta of 1.50. The firm has a 50-day simple moving average of $58.38 and a two-hundred day simple moving average of $58.98. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. TPG Inc. has a 52 week low of $37.52 and a 52 week high of $70.38.

TPG (NASDAQ:TPG) last issued its earnings results on Thursday, February 5th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.20. TPG had a return on equity of 26.02% and a net margin of 3.95%.The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $548.40 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The business’s revenue was up 35.6% compared to the same quarter last year. Analysts forecast that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Thursday, February 19th will be given a dividend of $0.61 per share. The ex-dividend date is Thursday, February 19th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.6%. This is an increase from TPG’s previous quarterly dividend of $0.45. TPG’s dividend payout ratio is currently 554.55%.

About TPG

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.