Northern Trust Corp Has $33.59 Million Stake in TPG Inc. (NASDAQ:TPG)

Northern Trust Corp increased its stake in TPG Inc. (NASDAQ:TPG) by 4.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 534,487 shares of the company’s stock after purchasing an additional 21,737 shares during the quarter. Northern Trust Corp’s holdings in TPG were worth $33,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TPG. ORG Wealth Partners LLC acquired a new position in TPG during the fourth quarter worth $33,000. R Squared Ltd bought a new position in shares of TPG in the 4th quarter valued at about $97,000. Wedmont Private Capital acquired a new stake in shares of TPG in the fourth quarter valued at about $204,000. Stifel Financial Corp bought a new stake in TPG during the fourth quarter worth about $206,000. Finally, Shoker Investment Counsel Inc. boosted its position in TPG by 10.4% during the fourth quarter. Shoker Investment Counsel Inc. now owns 3,889 shares of the company’s stock valued at $244,000 after purchasing an additional 366 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

TPG Trading Up 1.6 %

Shares of NASDAQ:TPG opened at $49.53 on Friday. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $72.98. The business has a 50 day moving average of $46.70 and a 200-day moving average of $58.58. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36. The stock has a market cap of $18.30 billion, a PE ratio of -112.57, a P/E/G ratio of 0.80 and a beta of 1.58.

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

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Monday, May 19th. TPG’s dividend payout ratio is -496.97%.

Insiders Place Their Bets

In other TPG news, General Counsel Bradford Berenson sold 2,509 shares of TPG stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total value of $125,550.36. Following the completion of the transaction, the general counsel now directly owns 290,841 shares of the company’s stock, valued at $14,553,683.64. The trade was a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 69.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TPG shares. JMP Securities reiterated a “market perform” rating on shares of TPG in a research note on Thursday, February 13th. TD Cowen dropped their price target on shares of TPG from $65.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley reissued an “equal weight” rating and issued a $47.00 price objective (down previously from $80.00) on shares of TPG in a research report on Monday, April 14th. The Goldman Sachs Group dropped their target price on shares of TPG from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Finally, Bank of America cut their target price on shares of TPG from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.