TPG Inc. (NASDAQ:TPG) Sees Large Drop in Short Interest

TPG Inc. (NASDAQ:TPG) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 4,090,000 shares, a decline of 26.0% from the November 15th total of 5,530,000 shares. Currently, 5.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,050,000 shares, the short-interest ratio is currently 3.9 days.

Analyst Ratings Changes

Several equities analysts have issued reports on TPG shares. Wells Fargo & Company raised their price objective on TPG from $68.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday. The Goldman Sachs Group lifted their price target on TPG from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft increased their price objective on TPG from $67.00 to $69.00 and gave the company a “buy” rating in a report on Monday, November 11th. Evercore ISI lifted their target price on shares of TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Finally, TD Cowen decreased their price target on shares of TPG from $62.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, TPG currently has an average rating of “Hold” and an average target price of $60.08.

Institutional Investors Weigh In On TPG

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of TPG by 58.6% during the second quarter. SG Americas Securities LLC now owns 8,731 shares of the company’s stock worth $362,000 after buying an additional 3,226 shares in the last quarter. Summit Global Investments acquired a new stake in TPG during the second quarter valued at approximately $2,982,000. Lecap Asset Management Ltd. bought a new position in TPG during the 2nd quarter worth approximately $1,096,000. Bank of New York Mellon Corp grew its position in shares of TPG by 8.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 570,725 shares of the company’s stock worth $23,657,000 after acquiring an additional 46,386 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of TPG by 1,871.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 6,210 shares of the company’s stock valued at $257,000 after acquiring an additional 5,895 shares during the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.

TPG Stock Performance

TPG stock traded down $1.02 during trading on Friday, hitting $67.35. The company’s stock had a trading volume of 435,079 shares, compared to its average volume of 897,577. The stock’s fifty day moving average is $66.45 and its 200 day moving average is $54.00. TPG has a 1-year low of $38.20 and a 1-year high of $72.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25.

TPG (NASDAQ:TPG) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. TPG had a net margin of 0.69% and a return on equity of 23.45%. The company had revenue of $855.40 million during the quarter, compared to analysts’ expectations of $449.98 million. During the same period in the previous year, the company earned $0.56 EPS. On average, equities analysts forecast that TPG will post 1.95 earnings per share for the current year.

TPG Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.26%. The ex-dividend date was Thursday, November 14th. TPG’s dividend payout ratio (DPR) is -447.05%.

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.