Renaissance Technologies LLC Makes New Investment in TPG Inc. $TPG

Renaissance Technologies LLC bought a new stake in TPG Inc. (NASDAQ:TPG) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 538,800 shares of the company’s stock, valued at approximately $21,827,000. Renaissance Technologies LLC owned about 0.14% of TPG as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jennison Associates LLC acquired a new position in TPG during the 4th quarter valued at about $13,630,000. Private Wealth Partners LLC grew its position in TPG by 95.7% in the 4th quarter. Private Wealth Partners LLC now owns 222,900 shares of the company’s stock worth $14,230,000 after purchasing an additional 109,020 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of TPG by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 12,700,928 shares of the company’s stock valued at $810,827,000 after purchasing an additional 314,295 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of TPG during the third quarter valued at approximately $3,221,000. Finally, Frank Rimerman Advisors LLC raised its holdings in TPG by 173.8% during the first quarter. Frank Rimerman Advisors LLC now owns 42,533 shares of the company’s stock worth $1,723,000 after purchasing an additional 26,998 shares in the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TPG shares. Citizens Jmp decreased their price target on TPG from $75.00 to $68.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Keefe, Bruyette & Woods raised TPG to a “moderate buy” rating in a research note on Monday, July 20th. Evercore set a $47.00 target price on TPG in a report on Tuesday, April 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $61.00 price target on shares of TPG in a research report on Tuesday, May 5th. Finally, Wall Street Zen raised shares of TPG from a “sell” rating to a “hold” rating in a report on Sunday. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, TPG currently has an average rating of “Moderate Buy” and a consensus price target of $60.43.

TPG Stock Performance

Shares of NASDAQ TPG opened at $42.16 on Thursday. The stock’s fifty day simple moving average is $42.05 and its 200 day simple moving average is $45.38. The stock has a market capitalization of $16.20 billion, a price-to-earnings ratio of 191.65, a PEG ratio of 0.81 and a beta of 1.45. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.63. TPG Inc. has a 52-week low of $36.95 and a 52-week high of $70.38.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.61 by $0.09. The business had revenue of $557.18 million during the quarter, compared to the consensus estimate of $608.07 million. TPG had a net margin of 3.81% and a return on equity of 28.13%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 EPS. As a group, sell-side analysts forecast that TPG Inc. will post 2.83 earnings per share for the current fiscal year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.36 annualized dividend and a dividend yield of 5.6%. TPG’s payout ratio is presently 1,072.73%.

TPG Profile

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.