Kornitzer Capital Management Inc. KS Buys 11,000 Shares of TPG Inc. $TPG

Kornitzer Capital Management Inc. KS boosted its position in TPG Inc. (NASDAQ:TPG) by 41.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,630 shares of the company’s stock after purchasing an additional 11,000 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in TPG were worth $1,661,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TPG. Wellington Management Group LLP grew its position in shares of TPG by 38.1% in the 2nd quarter. Wellington Management Group LLP now owns 11,019,487 shares of the company’s stock worth $446,840,000 after buying an additional 3,041,560 shares during the last quarter. Temasek Holdings Private Ltd raised its stake in shares of TPG by 14.1% during the 1st quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company’s stock worth $406,239,000 after acquiring an additional 1,236,526 shares in the last quarter. Vulcan Value Partners LLC lifted its position in TPG by 18.9% during the second quarter. Vulcan Value Partners LLC now owns 2,361,862 shares of the company’s stock valued at $95,774,000 after acquiring an additional 375,836 shares during the last quarter. Jackson Brooke LLC purchased a new stake in TPG during the second quarter valued at approximately $92,395,080. Finally, Junto Capital Management LP acquired a new stake in TPG in the second quarter valued at approximately $82,794,000. 94.03% of the stock is owned by hedge funds and other institutional investors.

TPG Stock Up 5.5%

NASDAQ:TPG opened at $49.08 on Tuesday. The company has a market cap of $18.86 billion, a PE ratio of 56.41, a P/E/G ratio of 0.90 and a beta of 1.48. TPG Inc. has a twelve month low of $36.95 and a twelve month high of $70.38. The company has a current ratio of 0.28, a quick ratio of 0.31 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $46.40 and its two-hundred day moving average is $45.36.

TPG (NASDAQ:TPG) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. TPG had a net margin of 5.32% and a return on equity of 29.05%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $624.66 million. During the same quarter last year, the company posted $0.53 earnings per share. The business’s quarterly revenue was up 25.3% on a year-over-year basis. Analysts anticipate that TPG Inc. will post 2.77 EPS for the current year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, November 9th. This is a negative change from TPG’s previous quarterly dividend of $0.59. TPG’s payout ratio is currently 271.26%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TPG shares. Barclays upped their price target on TPG from $60.00 to $61.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Weiss Ratings raised TPG from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, November 4th. Keefe, Bruyette & Woods boosted their target price on TPG from $53.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. BMO Capital Markets reduced their target price on TPG from $56.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 27th. Finally, Royal Bank Of Canada increased their price target on TPG from $65.00 to $68.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.00.

TPG Company Profile