Dockside LLC Invests $4.51 Million in TPG Inc. $TPG

Dockside LLC bought a new position in shares of TPG Inc. (NASDAQ:TPG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 70,694 shares of the company’s stock, valued at approximately $4,513,000. TPG accounts for about 1.2% of Dockside LLC’s investment portfolio, making the stock its 18th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new stake in shares of TPG during the fourth quarter worth $120,000. FORA Capital LLC acquired a new stake in shares of TPG during the fourth quarter worth $411,000. Cordoba Advisory Partners LLC acquired a new stake in shares of TPG during the fourth quarter worth $276,000. The Manufacturers Life Insurance Company raised its position in shares of TPG by 4.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 30,616 shares of the company’s stock worth $1,955,000 after purchasing an additional 1,258 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its position in shares of TPG by 7.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 180,439 shares of the company’s stock worth $11,528,000 after purchasing an additional 12,771 shares during the period. 94.03% of the stock is owned by institutional investors and hedge funds.

TPG Stock Performance

Shares of TPG stock opened at $43.01 on Friday. TPG Inc. has a 1-year low of $36.95 and a 1-year high of $70.38. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $16.53 billion, a price-to-earnings ratio of 195.51, a P/E/G ratio of 0.77 and a beta of 1.44. The stock’s fifty day simple moving average is $42.15 and its 200-day simple moving average is $50.50.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. TPG had a return on equity of 28.13% and a net margin of 3.81%.The business had revenue of $557.18 million for the quarter, compared to the consensus estimate of $608.07 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. TPG’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, sell-side analysts predict that TPG Inc. will post 2.86 earnings per share for the current fiscal year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were paid a $0.59 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.36 dividend on an annualized basis and a yield of 5.5%. TPG’s payout ratio is 1,072.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Morgan Stanley set a $60.00 target price on TPG in a research report on Tuesday, April 21st. Weiss Ratings downgraded TPG from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. BMO Capital Markets lowered their price target on TPG from $60.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. Barclays lifted their price target on TPG from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of TPG in a report on Wednesday, March 4th. Twelve equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, TPG presently has an average rating of “Moderate Buy” and an average target price of $61.75.

About TPG

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.