Perpetual Ltd Reduces Position in TPG Inc. (NASDAQ:TPG)

Perpetual Ltd trimmed its position in shares of TPG Inc. (NASDAQ:TPG) by 21.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,166,096 shares of the company’s stock after selling 327,873 shares during the quarter. Perpetual Ltd’s holdings in TPG were worth $73,277,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of TPG by 7.7% during the third quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock worth $83,023,000 after purchasing an additional 102,663 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in TPG by 5,656.0% during the 3rd quarter. International Assets Investment Management LLC now owns 34,536 shares of the company’s stock valued at $1,988,000 after buying an additional 33,936 shares in the last quarter. Millennium Management LLC lifted its holdings in TPG by 32.4% during the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock valued at $156,188,000 after buying an additional 922,571 shares in the last quarter. Gunderson Capital Management Inc. purchased a new stake in TPG in the 4th quarter valued at about $1,815,000. Finally, Charles Schwab Investment Management Inc. grew its stake in TPG by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 770,998 shares of the company’s stock worth $44,379,000 after acquiring an additional 31,638 shares in the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPG has been the subject of several research analyst reports. BMO Capital Markets lifted their price target on shares of TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price on TPG from $62.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Evercore ISI increased their price target on TPG from $60.00 to $65.00 and gave the stock an “in-line” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted 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. Finally, Morgan Stanley increased their target price on shares of TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $63.00.

TPG Stock Performance

Shares of TPG stock opened at $67.03 on Tuesday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average price is $66.54 and its 200-day moving average price is $58.63. TPG Inc. has a 52-week low of $38.50 and a 52-week high of $72.98.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. TPG had a net margin of 0.69% and a return on equity of 23.45%. The business had revenue of $855.40 million for the quarter, compared to analyst estimates of $449.98 million. During the same period in the previous year, the company earned $0.56 earnings per share. As a group, sell-side analysts predict that TPG Inc. will post 1.95 EPS for the current year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.27%. The ex-dividend date was Thursday, November 14th. TPG’s dividend payout ratio is currently -447.05%.

Insider Buying and Selling at TPG

In other TPG news, Director Deborah M. Messemer sold 1,695 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $61.91, for a total transaction of $104,937.45. Following the transaction, the director now owns 15,841 shares in the company, valued at approximately $980,716.31. This represents a 9.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 76.48% of the stock is currently owned by company insiders.

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.