Verition Fund Management LLC Has $407,000 Holdings in TPG Inc. (NASDAQ:TPG)

Verition Fund Management LLC trimmed its holdings in shares of TPG Inc. (NASDAQ:TPG) by 27.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,070 shares of the company’s stock after selling 2,663 shares during the period. Verition Fund Management LLC’s holdings in TPG were worth $407,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TPG. International Assets Investment Management LLC raised its holdings in shares of TPG by 5,656.0% in the 3rd quarter. International Assets Investment Management LLC now owns 34,536 shares of the company’s stock valued at $1,988,000 after purchasing an additional 33,936 shares during the period. Cornercap Investment Counsel Inc. bought a new stake in shares of TPG in the 2nd quarter valued at about $1,057,000. Millennium Management LLC raised its holdings in shares of TPG by 32.4% in the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock valued at $156,188,000 after purchasing an additional 922,571 shares during the period. Quest Partners LLC bought a new stake in shares of TPG in the 2nd quarter valued at about $606,000. Finally, Renaissance Capital LLC raised its holdings in shares of TPG by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 90,618 shares of the company’s stock valued at $5,216,000 after purchasing an additional 15,131 shares during the period. 94.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TPG shares. The Goldman Sachs Group upped their target price on shares of TPG from $67.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. TD Cowen lowered their price target on shares of TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. BMO Capital Markets increased their price target on shares of TPG from $45.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of TPG from $67.00 to $69.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Evercore ISI increased their price target on shares of TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, TPG presently has a consensus rating of “Hold” and an average target price of $60.08.

TPG Stock Down 3.0 %

NASDAQ TPG opened at $68.37 on Friday. The company has a 50 day moving average of $66.45 and a 200-day moving average of $54.00. The company has a market cap of $24.95 billion, a price-to-earnings ratio of -201.09, a PEG ratio of 1.14 and a beta of 1.46. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.39. TPG Inc. has a 1-year low of $37.14 and a 1-year high of $72.98.

TPG (NASDAQ:TPG) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $855.40 million for the quarter, compared to analysts’ expectations of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.45%. During the same period last year, the firm posted $0.56 earnings per share. On average, equities research analysts expect that TPG Inc. will post 1.95 earnings per share for the current fiscal year.

TPG Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.22%. TPG’s dividend payout ratio (DPR) is -447.06%.

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.