Bleakley Financial Group LLC Sells 892 Shares of TPG Inc. (NASDAQ:TPG)

Bleakley Financial Group LLC trimmed its stake in TPG Inc. (NASDAQ:TPG) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,262 shares of the company’s stock after selling 892 shares during the quarter. Bleakley Financial Group LLC’s holdings in TPG were worth $2,145,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TPG. Vanguard Group Inc. lifted its position in shares of TPG by 21.6% in the first quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock valued at $328,826,000 after buying an additional 1,305,799 shares during the last quarter. Millennium Management LLC lifted its position in shares of TPG by 32.4% in the second quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock valued at $156,188,000 after buying an additional 922,571 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of TPG by 902.4% in the second quarter. Thrivent Financial for Lutherans now owns 418,608 shares of the company’s stock valued at $17,352,000 after buying an additional 376,848 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of TPG by 5.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock valued at $278,161,000 after buying an additional 366,306 shares during the last quarter. Finally, Capital International Investors lifted its position in shares of TPG by 9.6% in the first quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock valued at $172,581,000 after buying an additional 336,665 shares during the last quarter. 86.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TPG has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley lifted their price target on TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company lifted their price target on TPG from $60.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $52.25.

TPG Stock Performance

Shares of TPG opened at $66.34 on Friday. The firm has a market capitalization of $24.19 billion, a P/E ratio of -473.86, a P/E/G ratio of 0.94 and a beta of 1.53. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a 50 day moving average price of $54.70 and a two-hundred day moving average price of $47.45. TPG Inc. has a 52 week low of $26.62 and a 52 week high of $67.05.

TPG (NASDAQ:TPG) last released its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. The company had revenue of $744.19 million during the quarter, compared to analyst estimates of $449.34 million. TPG had a return on equity of 24.27% and a net margin of 1.08%. During the same period in the prior year, the company posted $0.26 earnings per share. Equities analysts forecast that TPG Inc. will post 1.99 earnings per share for the current fiscal year.

TPG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.53%. This is a positive change from TPG’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, August 16th. TPG’s dividend payout ratio is -1,200.00%.

About TPG

TPG Inc operates as an alternative asset manager in the United States and internationally. The company offers investment management services to TPG Funds, limited partners, and other vehicles. It also offers monitoring services to portfolio companies; advisory, debt and equity arrangement, and underwriting and placement services; and capital structuring and other advisory services to portfolio companies.