Fortress Investment Group LLC Acquires Shares of 298,813 TPG Inc. $TPG

Fortress Investment Group LLC bought a new stake in TPG Inc. (NASDAQ:TPG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 298,813 shares of the company’s stock, valued at approximately $17,167,000. TPG accounts for about 2.3% of Fortress Investment Group LLC’s portfolio, making the stock its 13th biggest position. Fortress Investment Group LLC owned about 0.08% of TPG at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in TPG by 0.5% in the third quarter. Vanguard Group Inc. now owns 12,386,633 shares of the company’s stock worth $711,612,000 after purchasing an additional 56,490 shares during the last quarter. Capital International Investors grew its stake in shares of TPG by 3.5% during the third quarter. Capital International Investors now owns 11,682,464 shares of the company’s stock valued at $671,158,000 after buying an additional 392,336 shares during the last quarter. Darlington Partners Capital Management LP purchased a new stake in shares of TPG in the second quarter worth approximately $258,581,000. Bank of America Corp DE raised its holdings in shares of TPG by 72.7% in the third quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock worth $204,960,000 after buying an additional 1,501,808 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of TPG by 30.8% during the 2nd quarter. Geode Capital Management LLC now owns 3,529,402 shares of the company’s stock worth $185,136,000 after acquiring an additional 831,865 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

TPG Trading Up 3.7%

Shares of NASDAQ TPG opened at $40.50 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The business has a fifty day simple moving average of $53.94 and a two-hundred day simple moving average of $57.62. The firm has a market cap of $15.56 billion, a PE ratio of 92.05, a price-to-earnings-growth ratio of 0.59 and a beta of 1.55. TPG Inc. has a twelve month low of $37.52 and a twelve month high of $70.38.

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

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 19th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 6.0%. This is a boost from TPG’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Thursday, February 19th. TPG’s payout ratio is currently 554.55%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TPG shares. Citizens Jmp upgraded TPG from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Monday, February 9th. UBS Group reduced their target price on TPG from $83.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Morgan Stanley set a $67.00 target price on shares of TPG in a research note on Tuesday, January 27th. Evercore set a $56.00 price target on shares of TPG in a report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of TPG in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TPG currently has an average rating of “Moderate Buy” and an average target price of $66.80.

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.