Millennium Management LLC Grows Stock Position in TPG Inc. $TPG

Millennium Management LLC lifted its stake in TPG Inc. (NASDAQ:TPG) by 66.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,584,733 shares of the company’s stock after buying an additional 1,837,799 shares during the period. Millennium Management LLC’s holdings in TPG were worth $292,689,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TPG. International Assets Investment Management LLC purchased a new position in TPG during the 4th quarter valued at about $38,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in TPG by 268.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock valued at $38,000 after purchasing an additional 524 shares during the period. EverSource Wealth Advisors LLC increased its holdings in TPG by 2,496.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 675 shares of the company’s stock valued at $43,000 after purchasing an additional 649 shares during the period. PNC Financial Services Group Inc. increased its holdings in TPG by 252.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 790 shares of the company’s stock valued at $45,000 after purchasing an additional 566 shares during the period. Finally, Optiver Holding B.V. purchased a new position in TPG during the 3rd quarter valued at about $51,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.

TPG Stock Down 4.7%

TPG stock opened at $42.56 on Thursday. TPG Inc. has a fifty-two week low of $36.95 and a fifty-two week high of $70.38. The business’s 50 day moving average price is $42.46 and its two-hundred day moving average price is $50.16. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 193.46, a price-to-earnings-growth ratio of 0.80 and a beta of 1.44.

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

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were issued a dividend of $0.59 per share. The ex-dividend date was Monday, May 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.5%. TPG’s dividend payout ratio is 1,072.73%.

Analyst Ratings Changes

A number of research analysts recently issued reports on TPG shares. The Goldman Sachs Group restated a “buy” rating and set a $61.00 price target on shares of TPG in a report on Tuesday, May 5th. Evercore set a $47.00 price target on TPG in a report on Tuesday, April 21st. Barclays boosted their price target on TPG from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, May 4th. BMO Capital Markets reduced their price target on TPG from $60.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. Finally, Wall Street Zen upgraded TPG from a “sell” rating to a “hold” rating in a report on Sunday, June 7th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.75.

TPG Company 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.