Arizona State Retirement System Trims Stock Position in TPG Inc. (NASDAQ:TPG)

Arizona State Retirement System lessened its stake in TPG Inc. (NASDAQ:TPG) by 10.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,428 shares of the company’s stock after selling 2,172 shares during the period. Arizona State Retirement System’s holdings in TPG were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. National Bank of Canada FI grew its position in shares of TPG by 6.4% during the second quarter. National Bank of Canada FI now owns 99,962 shares of the company’s stock worth $4,088,000 after acquiring an additional 5,970 shares during the last quarter. Cannon Global Investment Management LLC acquired a new stake in TPG during the 2nd quarter worth $356,000. Rhumbline Advisers grew its position in TPG by 11.7% during the 2nd quarter. Rhumbline Advisers now owns 77,333 shares of the company’s stock worth $3,205,000 after purchasing an additional 8,105 shares during the last quarter. Versor Investments LP acquired a new position in TPG in the second quarter valued at $435,000. Finally, Commonwealth Equity Services LLC raised its holdings in shares of TPG by 3.3% in the second quarter. Commonwealth Equity Services LLC now owns 7,132 shares of the company’s stock valued at $296,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 86.79% of the company’s stock.

Insider Buying and Selling at TPG

In related news, Director Deborah M. Messemer sold 4,089 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $46.55, for a total value of $190,342.95. Following the sale, the director now directly owns 17,536 shares in the company, valued at approximately $816,300.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 76.48% of the stock is owned by corporate insiders.

TPG Stock Up 4.6 %

Shares of NASDAQ TPG opened at $56.44 on Friday. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of -403.11, a price-to-earnings-growth ratio of 0.92 and a beta of 1.52. TPG Inc. has a 52 week low of $26.62 and a 52 week high of $56.82. The firm has a 50-day moving average price of $47.98 and a 200 day moving average price of $44.87. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37.

TPG (NASDAQ:TPG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $744.19 million during the quarter, compared to the consensus estimate of $449.34 million. TPG had a net margin of 1.08% and a return on equity of 24.27%. During the same period last year, the firm earned $0.26 EPS. Equities research analysts anticipate that TPG Inc. will post 2.01 EPS for the current fiscal year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.98%. This is an increase from TPG’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, August 16th. TPG’s payout ratio is presently -1,199.91%.

Analysts Set New Price Targets

TPG has been the topic of several recent research reports. The Goldman Sachs Group boosted their price target on TPG from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Friday. TD Cowen dropped their target price on TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, July 8th. Wells Fargo & Company assumed coverage on TPG in a research note on Thursday. They set an “overweight” rating and a $60.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.25.

TPG Company 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.