Commonwealth Equity Services LLC Boosts Stock Position in TPG Inc. (NASDAQ:TPG)

Commonwealth Equity Services LLC lifted its stake in shares of TPG Inc. (NASDAQ:TPG) by 6.6% in the fourth quarter, HoldingsChannel reports. The fund owned 8,021 shares of the company’s stock after acquiring an additional 498 shares during the period. Commonwealth Equity Services LLC’s holdings in TPG were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TPG. Skandinaviska Enskilda Banken AB publ boosted its position in shares of TPG by 36.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 159,800 shares of the company’s stock worth $10,133,000 after purchasing an additional 43,000 shares during the period. Swiss National Bank boosted its holdings in TPG by 4.8% in the 4th quarter. Swiss National Bank now owns 151,500 shares of the company’s stock worth $9,520,000 after buying an additional 6,900 shares during the period. Burkehill Global Management LP bought a new position in TPG in the 4th quarter worth $31,420,000. AGF Management Ltd. purchased a new stake in TPG in the 4th quarter worth $439,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in TPG by 30.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,068 shares of the company’s stock valued at $1,450,000 after acquiring an additional 5,363 shares during the period. 94.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on TPG from $62.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Bank of America cut their price objective on TPG from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday. Wells Fargo & Company reduced their target price on TPG from $78.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. BMO Capital Markets increased their price target on TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group reduced their price objective on TPG from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, TPG currently has a consensus rating of “Hold” and an average price target of $62.42.

Insider Activity at TPG

In other news, Director Deborah M. Messemer sold 1,695 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $61.91, for a total value of $104,937.45. Following the sale, the director now directly owns 15,841 shares in the company, valued at approximately $980,716.31. This represents a 9.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Bradford Berenson sold 2,509 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total value of $125,550.36. Following the transaction, the general counsel now owns 290,841 shares of the company’s stock, valued at approximately $14,553,683.64. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. 76.48% of the stock is currently owned by insiders.

TPG Price Performance

Shares of TPG stock opened at $40.99 on Friday. The stock has a market cap of $15.14 billion, a price-to-earnings ratio of -93.16, a price-to-earnings-growth ratio of 0.80 and a beta of 1.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.25 and a current ratio of 0.18. The stock has a 50 day moving average price of $54.99 and a 200-day moving average price of $61.48. TPG Inc. has a one year low of $37.52 and a one year high of $72.98.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. Equities analysts expect that TPG Inc. will post 2.52 EPS for the current year.

TPG Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a dividend of $0.53 per share. The ex-dividend date was Friday, February 21st. This is a boost from TPG’s previous quarterly dividend of $0.38. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.17%. TPG’s payout ratio is currently -481.82%.

TPG Company Profile

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.