CenterBook Partners LP Purchases New Holdings in TPG Inc. $TPG

CenterBook Partners LP purchased a new position in shares of TPG Inc. (NASDAQ:TPG) during the third quarter, Holdings Channel.com reports. The firm purchased 63,702 shares of the company’s stock, valued at approximately $2,811,000.

Several other large investors also recently modified their holdings of the stock. Heritage Family Offices LLP acquired a new position in shares of TPG during the 3rd quarter valued at $58,000. Kestra Private Wealth Services LLC acquired a new stake in TPG in the third quarter worth $286,000. Provenance Wealth Advisors LLC bought a new stake in TPG in the third quarter valued at $36,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in TPG in the third quarter valued at $134,000. Finally, Signaturefd LLC increased its stake in TPG by 10.5% in the third quarter. Signaturefd LLC now owns 3,685 shares of the company’s stock valued at $163,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TPG. Evercore set a $52.00 price objective on shares of TPG in a report on Friday, October 30th. Wells Fargo & Company raised their target price on TPG from $47.00 to $52.00 and gave the company an “equal weight” rating in a research note on Friday, October 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $62.00 target price on shares of TPG in a research report on Wednesday, August 5th. Royal Bank Of Canada upped their price target on TPG from $65.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Finally, Keefe, Bruyette & Woods increased their price target on TPG from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, TPG currently has a consensus rating of “Moderate Buy” and an average target price of $61.00.

TPG Stock Down 0.5%

TPG stock opened at $46.50 on Friday. TPG Inc. has a 1-year low of $36.95 and a 1-year high of $70.38. The firm has a market capitalization of $17.87 billion, a price-to-earnings ratio of 53.45, a price-to-earnings-growth ratio of 0.83 and a beta of 1.48. The firm’s fifty day moving average price is $46.50 and its two-hundred day moving average price is $45.44. The company has a current ratio of 0.28, a quick ratio of 0.31 and a debt-to-equity ratio of 0.57.

TPG (NASDAQ:TPG) last posted its earnings results on Thursday, October 29th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. TPG had a return on equity of 29.05% and a net margin of 5.32%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $624.66 million. During the same quarter last year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, 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 disclosed 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 drop from TPG’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, November 9th. This represents a $2.20 annualized dividend and a yield of 4.7%. TPG’s dividend payout ratio (DPR) is 271.26%.

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