Teacher Retirement System of Texas Grows Stock Holdings in TPG Inc. $TPG

Teacher Retirement System of Texas grew its stake in TPG Inc. (NASDAQ:TPG) by 74.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,893 shares of the company’s stock after acquiring an additional 8,504 shares during the period. Teacher Retirement System of Texas’ holdings in TPG were worth $1,043,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of TPG by 3.1% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,828 shares of the company’s stock valued at $411,000 after acquiring an additional 238 shares in the last quarter. QRG Capital Management Inc. increased its holdings in TPG by 3.0% during the 2nd quarter. QRG Capital Management Inc. now owns 8,251 shares of the company’s stock worth $433,000 after purchasing an additional 241 shares during the period. Signaturefd LLC raised its position in TPG by 27.0% during the 1st quarter. Signaturefd LLC now owns 1,443 shares of the company’s stock valued at $68,000 after purchasing an additional 307 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of TPG by 55.7% in the 2nd quarter. GAMMA Investing LLC now owns 945 shares of the company’s stock worth $50,000 after buying an additional 338 shares during the period. Finally, Allworth Financial LP lifted its holdings in shares of TPG by 132.3% in the 1st quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $30,000 after buying an additional 369 shares during the period. 94.03% of the stock is owned by hedge funds and other institutional investors.

TPG Stock Performance

Shares of TPG stock opened at $54.67 on Friday. The company has a market capitalization of $20.66 billion, a PE ratio of 607.44, a P/E/G ratio of 0.98 and a beta of 1.52. The company has a 50-day simple moving average of $58.23 and a two-hundred day simple moving average of $54.91. TPG Inc. has a one year low of $37.52 and a one year high of $72.98. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.40 and a current ratio of 0.35.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The firm had revenue of $596.50 million during the quarter, compared to analysts’ expectations of $510.32 million. TPG had a return on equity of 25.79% and a net margin of 2.83%.The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. Research analysts expect that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, November 14th. TPG’s dividend payout ratio is currently -1,242.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on TPG from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, July 11th. BNP Paribas Exane upgraded shares of TPG from a “neutral” rating to an “outperform” rating and set a $69.00 target price on the stock in a report on Wednesday, July 30th. Morgan Stanley raised their target price on shares of TPG from $58.00 to $63.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. TD Cowen boosted their price target on shares of TPG from $58.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Evercore ISI increased their price objective on shares of TPG from $52.00 to $60.00 and gave the company an “in-line” rating in a research note on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.79.

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.