Perpetual Ltd Cuts Stock Holdings in TPG Inc. (NASDAQ:TPG)

Perpetual Ltd reduced its position in TPG Inc. (NASDAQ:TPG) by 21.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,166,096 shares of the company’s stock after selling 327,873 shares during the period. Perpetual Ltd owned about 0.32% of TPG worth $73,277,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ORG Wealth Partners LLC purchased a new stake in shares of TPG during the 4th quarter valued at about $33,000. Signaturefd LLC boosted its holdings in TPG by 21.3% in the third quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock worth $62,000 after purchasing an additional 188 shares during the last quarter. Covestor Ltd grew its position in TPG by 1,128.3% in the 3rd quarter. Covestor Ltd now owns 1,867 shares of the company’s stock worth $107,000 after purchasing an additional 1,715 shares during the period. KBC Group NV raised its stake in TPG by 25.1% during the 3rd quarter. KBC Group NV now owns 2,405 shares of the company’s stock valued at $138,000 after buying an additional 482 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of TPG by 136.2% during the 3rd quarter. Quarry LP now owns 3,201 shares of the company’s stock valued at $184,000 after buying an additional 1,846 shares during the period. 94.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TPG has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Evercore ISI upped their price target on shares of TPG from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, November 11th. 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 research report on Thursday, December 19th. Finally, The Goldman Sachs Group boosted their price objective on shares of TPG from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.00.

Insiders Place Their Bets

In other news, Director Deborah M. Messemer sold 1,695 shares of TPG 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 completion of the transaction, the director now owns 15,841 shares in the company, valued at approximately $980,716.31. The trade was a 9.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 76.48% of the company’s stock.

TPG Price Performance

Shares of TPG stock opened at $67.03 on Tuesday. The stock’s 50-day moving average price is $66.54 and its 200-day moving average price is $58.63. TPG Inc. has a 12-month low of $38.50 and a 12-month high of $72.98. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.39.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 return on equity of 23.45% and a net margin of 0.69%. During the same period in the prior year, the firm earned $0.56 EPS. Analysts expect that TPG Inc. will post 1.95 earnings per share for the current year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, November 14th. This represents a $1.52 annualized dividend and a yield of 2.27%. TPG’s dividend payout ratio (DPR) is currently -447.05%.

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.