Raymond James Financial Inc. Takes Position in TPG Inc. (NASDAQ:TPG)

Raymond James Financial Inc. bought a new stake in TPG Inc. (NASDAQ:TPG) in the fourth quarter, HoldingsChannel reports. The fund bought 9,789 shares of the company’s stock, valued at approximately $615,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Shoker Investment Counsel Inc. raised its holdings in shares of TPG by 10.4% in the fourth quarter. Shoker Investment Counsel Inc. now owns 3,889 shares of the company’s stock valued at $244,000 after buying an additional 366 shares during the last quarter. ORG Wealth Partners LLC acquired a new position in TPG in the 4th quarter valued at about $33,000. Ritholtz Wealth Management raised its stake in TPG by 21.6% during the 4th quarter. Ritholtz Wealth Management now owns 4,695 shares of the company’s stock valued at $295,000 after acquiring an additional 833 shares during the last quarter. Arizona State Retirement System lifted its position in TPG by 4.8% during the 4th quarter. Arizona State Retirement System now owns 22,334 shares of the company’s stock worth $1,403,000 after acquiring an additional 1,014 shares during the period. Finally, Handelsbanken Fonder AB grew its stake in shares of TPG by 5.6% in the 4th quarter. Handelsbanken Fonder AB now owns 20,800 shares of the company’s stock valued at $1,307,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TPG. Keefe, Bruyette & Woods upped their price target on TPG from $62.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. JMP Securities restated a “market perform” rating on shares of TPG in a research report on Thursday, February 13th. Bank of America lowered their target price on shares of TPG from $72.00 to $68.00 and set a “buy” rating on the stock in a report on Friday. BMO Capital Markets increased their price target on shares of TPG from $60.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group reduced their price objective on shares of TPG from $70.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.42.

Insiders Place Their Bets

In other TPG news, General Counsel Bradford Berenson sold 2,509 shares of TPG stock in a transaction that occurred 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 completion of the sale, the general counsel now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deborah M. Messemer sold 1,695 shares of TPG stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $61.91, for a total value of $104,937.45. Following the completion of the sale, the director now directly owns 15,841 shares of the company’s stock, valued at approximately $980,716.31. This represents a 9.67 % decrease in their position. The disclosure for this sale can be found here. 76.48% of the stock is currently owned by company insiders.

TPG Price Performance

TPG stock opened at $40.99 on Monday. The firm has a 50 day moving average of $54.99 and a 200-day moving average of $61.54. The company has a market cap of $15.14 billion, a price-to-earnings ratio of -93.16, a PEG ratio of 0.80 and a beta of 1.58. The company has a current ratio of 0.18, a quick ratio of 0.25 and a debt-to-equity ratio of 0.36. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $72.98.

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

TPG Increases Dividend

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

TPG 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.