TimesSquare Capital Management LLC Has $98.04 Million Stock Holdings in TPG Inc. $TPG

TimesSquare Capital Management LLC trimmed its stake in TPG Inc. (NASDAQ:TPG) by 8.8% in the third quarter, Holdings Channel reports. The firm owned 1,706,515 shares of the company’s stock after selling 164,101 shares during the quarter. TPG comprises approximately 1.4% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 16th biggest position. TimesSquare Capital Management LLC’s holdings in TPG were worth $98,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Comerica Bank grew its stake in shares of TPG by 43.1% in the first quarter. Comerica Bank now owns 1,545 shares of the company’s stock valued at $73,000 after buying an additional 465 shares in the last quarter. Royal Bank of Canada lifted its stake in TPG by 86.3% in the first quarter. Royal Bank of Canada now owns 7,901 shares of the company’s stock valued at $375,000 after acquiring an additional 3,659 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of TPG by 4,109.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock valued at $27,083,000 after acquiring an additional 557,438 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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 purchasing an additional 294,941 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of TPG by 17.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 6,475 shares of the company’s stock worth $340,000 after purchasing an additional 965 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

Wall Street Analysts Forecast Growth

TPG has been the subject of a number of research analyst reports. Evercore ISI set a $56.00 price target on TPG in a report on Friday, February 6th. Evercore set a $56.00 price objective on TPG in a research report on Friday, February 6th. Wolfe Research reiterated an “outperform” rating and set a $80.00 target price on shares of TPG in a research note on Wednesday, January 7th. Barclays set a $69.00 price target on TPG in a research note on Friday, February 6th. Finally, JPMorgan Chase & Co. reduced their target price on shares of TPG from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

TPG Price Performance

TPG stock opened at $49.53 on Friday. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $70.38. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $62.50 and its 200 day simple moving average is $59.97. The firm has a market cap of $18.73 billion, a price-to-earnings ratio of 112.57, a PEG ratio of 0.73 and a beta of 1.50.

TPG (NASDAQ:TPG) last issued its earnings results on Thursday, February 5th. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.06. TPG had a return on equity of 26.96% and a net margin of 3.95%.The business had revenue of $628.48 million during the quarter, compared to the consensus estimate of $548.40 million. During the same period in the previous year, the company posted $0.62 earnings per share. The firm’s revenue for the quarter was up 35.6% on a year-over-year basis. On average, analysts expect that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 19th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Thursday, February 19th. This is a positive change from TPG’s previous quarterly dividend of $0.45. TPG’s payout ratio is 409.09%.

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.