Allspring Global Investments Holdings LLC Sells 490 Shares of TPG Inc. (NASDAQ:TPG)

Allspring Global Investments Holdings LLC cut its position in TPG Inc. (NASDAQ:TPG) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,720 shares of the company’s stock after selling 490 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in TPG were worth $329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPG. Principal Financial Group Inc. boosted its position in TPG by 18.9% during the first quarter. Principal Financial Group Inc. now owns 6,291 shares of the company’s stock worth $281,000 after purchasing an additional 1,000 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in TPG by 5.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,430 shares of the company’s stock worth $556,000 after purchasing an additional 680 shares during the period. Janney Montgomery Scott LLC boosted its position in TPG by 7.2% during the first quarter. Janney Montgomery Scott LLC now owns 7,410 shares of the company’s stock worth $331,000 after purchasing an additional 500 shares during the period. FORA Capital LLC boosted its position in TPG by 75.3% during the first quarter. FORA Capital LLC now owns 27,954 shares of the company’s stock worth $1,250,000 after purchasing an additional 12,010 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in TPG during the first quarter worth $151,000. 86.79% of the stock is owned by institutional investors.

TPG Stock Down 2.6 %

TPG stock opened at $65.94 on Friday. The company has a market cap of $24.06 billion, a PE ratio of -188.39, a price-to-earnings-growth ratio of 1.07 and a beta of 1.49. The business has a 50-day simple moving average of $58.52 and a 200 day simple moving average of $49.04. TPG Inc. has a 52 week low of $28.22 and a 52 week high of $69.86. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37.

TPG (NASDAQ:TPG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $744.19 million during the quarter, compared to the consensus estimate of $449.34 million. TPG had a return on equity of 24.27% and a net margin of 1.08%. During the same quarter in the previous year, the firm earned $0.26 earnings per share. Sell-side analysts anticipate that TPG Inc. will post 1.96 EPS for the current fiscal year.

TPG Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.42 per share. This is an increase from TPG’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, August 16th. This represents a $1.68 annualized dividend and a yield of 2.55%. TPG’s payout ratio is presently -479.99%.

Analysts Set New Price Targets

TPG has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group boosted their target price on shares of TPG from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on shares of TPG from $60.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Evercore ISI boosted their target price on shares of TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Finally, TD Cowen reduced their target price on shares of TPG from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $52.25.

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.