Frank Rimerman Advisors LLC Increases Holdings in TPG Inc. $TPG

Frank Rimerman Advisors LLC grew its holdings in shares of TPG Inc. (NASDAQ:TPG) by 173.8% in the first quarter, Holdings Channel reports. The institutional investor owned 42,533 shares of the company’s stock after purchasing an additional 26,998 shares during the period. Frank Rimerman Advisors LLC’s holdings in TPG were worth $1,723,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Fortress Investment Group LLC purchased a new stake in TPG during the third quarter worth approximately $17,167,000. Franklin Resources Inc. boosted its holdings in TPG by 18.9% in the third quarter. Franklin Resources Inc. now owns 2,672,272 shares of the company’s stock valued at $153,522,000 after purchasing an additional 425,223 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in TPG in the third quarter valued at approximately $2,059,000. Capital International Investors increased its stake in TPG by 3.5% in the third quarter. Capital International Investors now owns 11,682,464 shares of the company’s stock valued at $671,158,000 after purchasing an additional 392,336 shares during the last quarter. Finally, Cinctive Capital Management LP acquired a new stake in TPG during the third quarter worth approximately $3,129,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.

TPG Price Performance

TPG stock opened at $41.61 on Thursday. 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 $15.99 billion, a P/E ratio of 189.14, a PEG ratio of 0.76 and a beta of 1.45. The business has a 50 day simple moving average of $42.06 and a 200-day simple moving average of $47.77. TPG Inc. has a twelve month low of $36.95 and a twelve month high of $70.38.

TPG (NASDAQ:TPG) last released 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 firm 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%. TPG’s revenue for the quarter 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, equities analysts anticipate that TPG Inc. will post 2.86 EPS for the current year.

TPG Cuts Dividend

The firm also recently disclosed 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 5.7%. TPG’s payout ratio is currently 1,072.73%.

Analyst Ratings Changes

Several research analysts have recently issued reports on TPG shares. Wall Street Zen upgraded shares of TPG from a “sell” rating to a “hold” rating in a report on Sunday. Deutsche Bank Aktiengesellschaft set a $55.00 price target on shares of TPG in a research note on Monday, May 4th. TD Cowen reduced their price target on shares of TPG from $48.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Morgan Stanley set a $60.00 price objective on shares of TPG in a research note on Tuesday, April 21st. Finally, Weiss Ratings lowered TPG from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 20th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.75.

TPG Company 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.