Police & Firemen s Retirement System of New Jersey Has $2.60 Million Stock Position in TPG Inc. $TPG

Police & Firemen s Retirement System of New Jersey boosted its stake in shares of TPG Inc. (NASDAQ:TPG) by 59.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,478 shares of the company’s stock after purchasing an additional 18,516 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in TPG were worth $2,595,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in TPG in the 2nd quarter valued at approximately $37,000. GAMMA Investing LLC increased its position in shares of TPG by 55.7% during the second quarter. GAMMA Investing LLC now owns 945 shares of the company’s stock valued at $50,000 after purchasing an additional 338 shares during the period. Parallel Advisors LLC raised its stake in shares of TPG by 43.8% in the second quarter. Parallel Advisors LLC now owns 1,380 shares of the company’s stock valued at $72,000 after purchasing an additional 420 shares in the last quarter. Signaturefd LLC lifted its position in TPG by 27.0% in the first quarter. Signaturefd LLC now owns 1,443 shares of the company’s stock worth $68,000 after purchasing an additional 307 shares during the period. Finally, Comerica Bank increased its holdings in TPG by 43.1% in the 1st quarter. Comerica Bank now owns 1,545 shares of the company’s stock valued at $73,000 after buying an additional 465 shares during the period. 94.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TPG has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of TPG in a research report on Thursday, November 13th. Zacks Research downgraded TPG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Morgan Stanley increased their target price on TPG from $58.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. TD Cowen boosted their price target on TPG from $58.00 to $60.00 and gave the company a “hold” rating in a research note on Wednesday, November 5th. Finally, Citigroup lowered their price target on TPG from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.62.

TPG Stock Down 0.6%

NASDAQ TPG opened at $54.86 on Wednesday. The stock’s 50 day simple moving average is $57.80 and its 200 day simple moving average is $55.65. TPG Inc. has a one year low of $37.52 and a one year high of $72.98. The firm has a market cap of $20.74 billion, a PE ratio of 609.56, a price-to-earnings-growth ratio of 1.01 and a beta of 1.52. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The business had revenue of $509.40 million during the quarter, compared to analyst estimates of $510.32 million. TPG had a return on equity of 25.79% and a net margin of 2.83%.TPG’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.45 EPS. As a group, sell-side analysts forecast that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, November 14th. TPG’s dividend payout ratio (DPR) is presently 2,000.00%.

About TPG

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.