FORA Capital LLC Cuts Stock Holdings in TPG Inc. $TPG

FORA Capital LLC decreased its position in TPG Inc. (NASDAQ:TPG) by 10.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 25,828 shares of the company’s stock after selling 2,867 shares during the quarter. FORA Capital LLC’s holdings in TPG were worth $1,225,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in TPG by 132.3% during the first quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $30,000 after purchasing an additional 369 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of TPG by 12,263.6% during the 1st quarter. Versant Capital Management Inc now owns 1,360 shares of the company’s stock worth $65,000 after buying an additional 1,349 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of TPG in the 4th quarter worth approximately $67,000. Comerica Bank grew its holdings in shares of TPG by 71.4% in the fourth quarter. Comerica Bank now owns 1,080 shares of the company’s stock valued at $68,000 after acquiring an additional 450 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of TPG by 27.0% in the first quarter. Signaturefd LLC now owns 1,443 shares of the company’s stock valued at $68,000 after acquiring an additional 307 shares in the last quarter. 94.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on TPG. Citigroup lifted their price target on TPG from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. Wolfe Research assumed coverage on shares of TPG in a report on Friday, June 20th. They issued an “outperform” rating and a $60.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of TPG from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. JPMorgan Chase & Co. lifted their price objective on shares of TPG from $56.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Finally, BNP Paribas Exane raised shares of TPG from a “neutral” rating to an “outperform” rating and set a $69.00 target price for the company in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, TPG currently has an average rating of “Moderate Buy” and an average target price of $62.57.

Insiders Place Their Bets

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the business’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total transaction of $101,150.72. Following the sale, the director owned 16,807 shares of the company’s stock, valued at $946,570.24. The trade was a 9.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 76.48% of the company’s stock.

TPG Trading Up 1.9%

Shares of TPG opened at $61.46 on Wednesday. TPG Inc. has a fifty-two week low of $37.52 and a fifty-two week high of $72.98. The business has a 50-day moving average of $56.80 and a 200 day moving average of $52.01. The firm has a market cap of $23.22 billion, a P/E ratio of -323.47, a price-to-earnings-growth ratio of 1.26 and a beta of 1.56. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.40.

TPG (NASDAQ:TPG) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.45 by $0.24. The business had revenue of $495.12 million for the quarter, compared to the consensus estimate of $470.57 million. TPG had a net margin of 1.60% and a return on equity of 25.79%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. As a group, research analysts forecast that TPG Inc. will post 2.52 EPS for the current year.

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 18th will be issued a $0.59 dividend. This is a boost from TPG’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Monday, August 18th. This represents a $2.36 annualized dividend and a yield of 3.8%. TPG’s payout ratio is -1,242.11%.

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.