TimesSquare Capital Management LLC Reduces Holdings in TPG Inc. $TPG

TimesSquare Capital Management LLC trimmed its stake in shares of TPG Inc. (NASDAQ:TPG) by 1.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,684,070 shares of the company’s stock after selling 22,445 shares during the quarter. TPG comprises 1.6% of TimesSquare Capital Management LLC’s holdings, making the stock its 9th biggest position. TimesSquare Capital Management LLC owned about 0.45% of TPG worth $107,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPG. Picton Mahoney Asset Management bought a new stake in shares of TPG in the 3rd quarter worth approximately $24,334,000. Fortress Investment Group LLC bought a new stake in shares of TPG in the 3rd quarter worth approximately $17,167,000. Private Wealth Partners LLC raised its holdings in shares of TPG by 88.2% in the 3rd quarter. Private Wealth Partners LLC now owns 113,880 shares of the company’s stock worth $6,542,000 after purchasing an additional 53,375 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of TPG in the 3rd quarter worth approximately $2,059,000. Finally, Franklin Resources Inc. raised its holdings in shares of TPG by 18.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,672,272 shares of the company’s stock worth $153,522,000 after purchasing an additional 425,223 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on TPG. TD Cowen dropped their target price on shares of TPG from $48.00 to $45.00 and set a “hold” rating on the stock in a report on Monday. Citigroup upgraded shares of TPG to an “outperform” rating in a report on Monday, February 9th. The Goldman Sachs Group reiterated a “buy” rating and issued a $61.00 target price on shares of TPG in a report on Tuesday, May 5th. Royal Bank Of Canada reiterated an “outperform” rating on shares of TPG in a report on Wednesday, March 4th. Finally, Barclays boosted their target price on shares of TPG from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.75.

TPG Stock Performance

TPG stock opened at $41.35 on Tuesday. The firm’s 50 day simple moving average is $41.65 and its 200-day simple moving average is $52.31. The company has a market cap of $15.89 billion, a P/E ratio of 187.96, a price-to-earnings-growth ratio of 0.75 and a beta of 1.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.33 and a quick ratio of 0.33. TPG Inc. has a fifty-two week low of $36.95 and a fifty-two week high of $70.38.

TPG (NASDAQ:TPG) last released its earnings results on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. The business had revenue of $557.18 million for the quarter, compared to the consensus estimate of $608.07 million. TPG had a net margin of 3.81% and a return on equity of 28.13%. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. As a group, equities research analysts predict that TPG Inc. will post 2.86 EPS for the current year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Monday, May 11th. TPG’s dividend payout ratio (DPR) is 1,072.73%.

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.