Frontier Capital Management Co. LLC Sells 30,049 Shares of TPG Inc. (NASDAQ:TPG)

Frontier Capital Management Co. LLC lessened its stake in TPG Inc. (NASDAQ:TPG) by 22.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 104,322 shares of the company’s stock after selling 30,049 shares during the period. Frontier Capital Management Co. LLC’s holdings in TPG were worth $6,556,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital World Investors increased its holdings in TPG by 484.6% in the fourth quarter. Capital World Investors now owns 3,065,321 shares of the company’s stock worth $192,625,000 after purchasing an additional 2,541,013 shares in the last quarter. Norges Bank bought a new stake in shares of TPG in the 4th quarter valued at $100,675,000. JPMorgan Chase & Co. boosted its stake in TPG by 2,515.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company’s stock worth $104,296,000 after acquiring an additional 1,596,254 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of TPG by 43.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,253,070 shares of the company’s stock valued at $141,584,000 after purchasing an additional 683,572 shares during the period. Finally, Balyasny Asset Management L.P. boosted its position in shares of TPG by 179.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 941,823 shares of the company’s stock worth $59,184,000 after purchasing an additional 604,434 shares in the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

TPG Stock Performance

TPG stock opened at $49.53 on Friday. TPG Inc. has a 1-year low of $37.52 and a 1-year high of $72.98. The company has a current ratio of 0.18, a quick ratio of 0.25 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $18.30 billion, a PE ratio of -112.57, a price-to-earnings-growth ratio of 0.80 and a beta of 1.58. The firm’s 50 day simple moving average is $46.70 and its 200 day simple moving average is $58.64.

TPG (NASDAQ:TPG) last announced its earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). TPG had a net margin of 0.67% and a return on equity of 24.66%. The company had revenue of $476.26 million during the quarter, compared to analysts’ expectations of $459.75 million. During the same period in the prior year, the business earned $0.49 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, analysts expect that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $0.41 dividend. The ex-dividend date is Monday, May 19th. This represents a $1.64 dividend on an annualized basis and a yield of 3.31%. TPG’s dividend payout ratio is presently -481.82%.

Insider Buying and Selling at TPG

In other news, General Counsel Bradford Berenson sold 2,509 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total value of $125,550.36. Following the completion of the sale, the general counsel now owns 290,841 shares of the company’s stock, valued at approximately $14,553,683.64. This represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. The Goldman Sachs Group cut their price target on TPG from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. UBS Group cut their target price on TPG from $72.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. TD Cowen decreased their price target on shares of TPG from $65.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. JMP Securities reaffirmed a “market perform” rating on shares of TPG in a research note on Thursday, February 13th. Finally, Wells Fargo & Company lifted their price objective on shares of TPG from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.08.

TPG Profile

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.