Nomura Asset Management Co. Ltd. Cuts Stock Holdings in TPG Inc. $TPG

Nomura Asset Management Co. Ltd. trimmed its position in shares of TPG Inc. (NASDAQ:TPG) by 90.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,863 shares of the company’s stock after selling 17,083 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in TPG were worth $119,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management acquired a new stake in shares of TPG during the third quarter worth about $24,334,000. Fortress Investment Group LLC acquired a new stake in shares of TPG during the third quarter worth about $17,167,000. Hudson Bay Capital Management LP acquired a new stake in shares of TPG during the third quarter worth about $2,059,000. Franklin Resources Inc. boosted its stake in shares of TPG by 18.9% during the third quarter. Franklin Resources Inc. now owns 2,672,272 shares of the company’s stock worth $153,522,000 after buying an additional 425,223 shares during the period. Finally, Capital International Investors boosted its stake in shares of TPG by 3.5% during the third quarter. Capital International Investors now owns 11,682,464 shares of the company’s stock worth $671,158,000 after buying an additional 392,336 shares during the period. 94.03% of the stock is owned by hedge funds and other institutional investors.

TPG Trading Down 2.3%

NASDAQ TPG opened at $41.19 on Friday. The stock has a market capitalization of $15.83 billion, a P/E ratio of 187.24, a P/E/G ratio of 0.76 and a beta of 1.44. TPG Inc. has a 52-week low of $36.95 and a 52-week high of $70.38. The firm has a 50-day moving average price of $41.88 and a 200 day moving average price of $50.95. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.63.

TPG (NASDAQ:TPG) last issued its earnings results on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. TPG had a net margin of 3.81% and a return on equity of 28.13%. The company had revenue of $557.18 million for the quarter, compared to analyst estimates of $608.07 million. During the same period in the prior year, the business posted $0.48 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities research analysts expect that TPG Inc. will post 2.86 EPS for the current year.

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 5.7%. The ex-dividend date was Monday, May 11th. TPG’s dividend payout ratio is presently 1,072.73%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TPG. Citizens Jmp raised shares of TPG from a “market perform” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Monday, February 9th. The Goldman Sachs Group reissued a “buy” rating and set a $61.00 price target on shares of TPG in a report on Tuesday, May 5th. Evercore set a $47.00 price target on shares of TPG in a report on Tuesday, April 21st. Citigroup raised shares of TPG to an “outperform” rating in a report on Monday, February 9th. Finally, UBS Group increased their price target on shares of TPG from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.75.

TPG Profile

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.