Norges Bank Makes New Investment in TPG Inc. $TPG

Norges Bank bought a new position in shares of TPG Inc. (NASDAQ:TPG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,672,223 shares of the company’s stock, valued at approximately $106,755,000. Norges Bank owned about 0.44% of TPG as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC bought a new stake in shares of TPG during the fourth quarter worth $38,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of TPG by 268.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock worth $38,000 after buying an additional 524 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of TPG by 2,496.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 675 shares of the company’s stock worth $43,000 after buying an additional 649 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of TPG by 252.7% during the third quarter. PNC Financial Services Group Inc. now owns 790 shares of the company’s stock worth $45,000 after buying an additional 566 shares during the last quarter. Finally, Optiver Holding B.V. bought a new stake in shares of TPG during the third quarter worth $51,000. Institutional investors own 94.03% of the company’s stock.

TPG Stock Performance

NASDAQ TPG opened at $42.15 on Friday. The company has a market capitalization of $16.20 billion, a price-to-earnings ratio of 191.60, a PEG ratio of 0.73 and a beta of 1.44. TPG Inc. has a twelve month low of $36.95 and a twelve month high of $70.38. The stock has a fifty day simple moving average of $41.87 and a 200 day simple moving average of $51.02. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.63.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. The business had revenue of $557.18 million during the quarter, compared to the consensus estimate of $608.07 million. TPG had a return on equity of 28.13% and a net margin of 3.81%.TPG’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share. Sell-side analysts expect that TPG Inc. will post 2.86 EPS for the current year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.36 dividend on an annualized basis and a yield of 5.6%. TPG’s dividend payout ratio is 1,072.73%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TPG. BMO Capital Markets decreased their target price on shares of TPG from $60.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Citigroup upgraded TPG to an “outperform” rating in a report on Monday, February 9th. Morgan Stanley set a $60.00 price objective on TPG in a report on Tuesday, April 21st. Evercore set a $47.00 price objective on TPG in a report on Tuesday, April 21st. Finally, Wall Street Zen downgraded TPG from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, TPG presently has a consensus rating of “Moderate Buy” and an average price target of $61.75.

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.