Voloridge Investment Management LLC Decreases Stake in TPG Inc. (NASDAQ:TPG)

Voloridge Investment Management LLC trimmed its position in shares of TPG Inc. (NASDAQ:TPG) by 24.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 380,036 shares of the company’s stock after selling 122,818 shares during the quarter. Voloridge Investment Management LLC’s holdings in TPG were worth $23,881,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TPG. 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 valued at $192,625,000 after buying an additional 2,541,013 shares during the last quarter. Norges Bank acquired a new position in shares of TPG during the 4th quarter worth about $100,675,000. JPMorgan Chase & Co. boosted its position in shares of TPG by 2,515.8% during the 4th 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. Millennium Management LLC increased its holdings in shares of TPG by 66.8% in the 4th quarter. Millennium Management LLC now owns 2,243,815 shares of the company’s stock valued at $141,001,000 after acquiring an additional 898,943 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of TPG by 43.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,253,070 shares of the company’s stock worth $141,584,000 after acquiring an additional 683,572 shares in the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

TPG Trading Down 5.3%

Shares of TPG stock opened at $47.27 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.25 and a current ratio of 0.18. The company has a market capitalization of $17.46 billion, a P/E ratio of -107.43, a PEG ratio of 0.80 and a beta of 1.58. TPG Inc. has a 1 year low of $37.52 and a 1 year high of $72.98. The company’s fifty day moving average is $47.13 and its two-hundred day moving average is $57.73.

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

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.64 annualized dividend and a dividend yield of 3.47%. TPG’s dividend payout ratio (DPR) is currently -496.97%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup decreased their target price on TPG from $72.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on shares of TPG from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. UBS Group lowered their target price on shares of TPG from $72.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, May 1st. TD Cowen dropped their target price 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. Finally, JMP Securities reissued a “market perform” rating on shares of TPG in a research report on Thursday, February 13th. Seven investment 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.com, TPG presently has an average rating of “Hold” and a consensus price target of $60.08.

Insider Activity

In other news, General Counsel Bradford Berenson sold 2,509 shares of TPG stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total value of $125,550.36. Following the sale, the general counsel now owns 290,841 shares of the company’s stock, valued at $14,553,683.64. The trade was a 0.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 76.48% of the company’s stock.

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.