Jefferies Financial Group Inc. Sells 60,920 Shares of TPG Inc. $TPG

Jefferies Financial Group Inc. cut its position in shares of TPG Inc. (NASDAQ:TPG) by 68.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,079 shares of the company’s stock after selling 60,920 shares during the quarter. Jefferies Financial Group Inc.’s holdings in TPG were worth $1,239,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Gryphon Financial Partners LLC lifted its holdings in TPG by 4.3% in the third quarter. Gryphon Financial Partners LLC now owns 15,590 shares of the company’s stock valued at $688,000 after buying an additional 636 shares during the period. Fulcrum Asset Management LLP raised its position in shares of TPG by 18.1% in the 3rd quarter. Fulcrum Asset Management LLP now owns 12,005 shares of the company’s stock worth $522,000 after acquiring an additional 1,840 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of TPG in the 3rd quarter valued at about $209,000. Kornitzer Capital Management Inc. KS boosted its position in shares of TPG by 41.3% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 37,630 shares of the company’s stock valued at $1,661,000 after purchasing an additional 11,000 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in TPG by 4.4% during the third quarter. Pictet Asset Management Holding SA now owns 21,377 shares of the company’s stock worth $943,000 after purchasing an additional 906 shares during the period. Institutional investors own 94.03% of the company’s stock.

TPG Stock Up 0.3%

Shares of TPG traded up $0.15 during trading hours on Friday, reaching $48.26. The stock had a trading volume of 2,652,071 shares, compared to its average volume of 2,884,790. The company has a market capitalization of $18.55 billion, a price-to-earnings ratio of 55.47, a P/E/G ratio of 0.86 and a beta of 1.48. The firm has a 50-day simple moving average of $46.04 and a 200 day simple moving average of $45.10. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.57. TPG Inc. has a 12 month low of $36.95 and a 12 month high of $70.38.

TPG (NASDAQ:TPG) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $624.66 million. TPG had a net margin of 5.32% and a return on equity of 29.05%. The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. Equities research analysts predict that TPG Inc. will post 2.77 earnings per share for the current fiscal year.

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 9th will be paid a dividend of $0.55 per share. This is a decrease from TPG’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, November 9th. This represents a $2.20 dividend on an annualized basis and a yield of 4.6%. TPG’s dividend payout ratio (DPR) is presently 252.87%.

Wall Street Analyst Weigh In

TPG has been the topic of several recent analyst reports. TD Cowen boosted their price target on TPG from $60.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, October 30th. UBS Group boosted their target price on shares of TPG from $59.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Morgan Stanley reduced their price target on shares of TPG from $60.00 to $54.00 and set an “equal weight” rating for the company in a report on Tuesday, July 21st. Evercore set a $52.00 price target on shares of TPG in a report on Friday, October 30th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of TPG from $53.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, TPG currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

TPG Profile

TPG Inc. is a global alternative asset management firm that invests across private equity, growth equity, impact investing, real estate, credit and other investment strategies. The company manages investment funds and related products for institutional and individual investors. Founded in 1992 as Texas Pacific Group, TPG has expanded its investment platforms over time, including through its acquisition of Angelo Gordon, which added to its credit and real estate capabilities. The firm invests in businesses and assets across multiple industries and geographies, with operations and investment teams serving markets around the world.