Picton Mahoney Asset Management Purchases New Holdings in TPG Inc. $TPG

Picton Mahoney Asset Management acquired a new position in TPG Inc. (NASDAQ:TPG) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 423,584 shares of the company’s stock, valued at approximately $24,334,000.

A number of other hedge funds have also recently bought and sold shares of the company. Comerica Bank increased its stake in shares of TPG by 43.1% in the 1st quarter. Comerica Bank now owns 1,545 shares of the company’s stock valued at $73,000 after buying an additional 465 shares during the period. Royal Bank of Canada increased its position in TPG by 86.3% in the first quarter. Royal Bank of Canada now owns 7,901 shares of the company’s stock worth $375,000 after purchasing an additional 3,659 shares during the period. Goldman Sachs Group Inc. increased its position in TPG by 4,109.1% in the first quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock worth $27,083,000 after purchasing an additional 557,438 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in TPG by 156.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company’s stock worth $22,941,000 after purchasing an additional 294,941 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in TPG by 24.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,936 shares of the company’s stock valued at $469,000 after purchasing an additional 1,762 shares during the period. 94.03% of the stock is currently owned by institutional investors.

TPG Trading Up 0.3%

Shares of NASDAQ TPG opened at $44.36 on Wednesday. TPG Inc. has a twelve month low of $37.52 and a twelve month high of $70.38. The stock has a market cap of $17.04 billion, a price-to-earnings ratio of 100.82, a P/E/G ratio of 0.62 and a beta of 1.55. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The company’s fifty day moving average is $57.53 and its 200-day moving average is $58.67.

TPG (NASDAQ:TPG) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.20. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $548.40 million. TPG had a net margin of 3.95% and a return on equity of 26.02%. The firm’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. Equities research analysts predict that TPG Inc. will post 2.52 EPS for the current year.

TPG Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Thursday, February 19th will be given a dividend of $0.61 per share. This is an increase from TPG’s previous quarterly dividend of $0.45. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Thursday, February 19th. TPG’s payout ratio is 554.55%.

Analysts Set New Price Targets

TPG has been the subject of several analyst reports. Royal Bank Of Canada assumed coverage on shares of TPG in a research report on Monday, February 23rd. They set an “outperform” rating and a $59.00 price target for the company. TD Cowen reaffirmed a “hold” rating on shares of TPG in a report on Wednesday, January 14th. Wolfe Research reissued an “outperform” rating and issued a $80.00 price target on shares of TPG in a research note on Wednesday, January 7th. UBS Group reduced their price target on TPG from $83.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, Evercore set a $56.00 price objective on TPG in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.80.

TPG Company 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.