TPG Inc. (NASDAQ:TPG) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its position in TPG Inc. (NASDAQ:TPG) by 902.4% during the second quarter, HoldingsChannel.com reports. The fund owned 418,608 shares of the company’s stock after acquiring an additional 376,848 shares during the period. Thrivent Financial for Lutherans’ holdings in TPG were worth $17,352,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC boosted its stake 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 worth $296,000 after acquiring an additional 230 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in TPG by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 28,460 shares of the company’s stock worth $1,229,000 after buying an additional 280 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in TPG by 7.2% during the first quarter. Janney Montgomery Scott LLC now owns 7,410 shares of the company’s stock worth $331,000 after buying an additional 500 shares in the last quarter. International Assets Investment Management LLC purchased a new position in TPG during the second quarter worth approximately $25,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in TPG by 5.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,430 shares of the company’s stock worth $556,000 after buying an additional 680 shares in the last quarter. 86.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of brokerages recently commented on TPG. The Goldman Sachs Group lifted their price objective on TPG from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Wells Fargo & Company assumed coverage on TPG in a research report on Thursday, September 12th. They set an “overweight” rating and a $60.00 price objective on the stock. TD Cowen reduced their target price on TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. lifted their target price on 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 assigned a buy rating to the company’s stock. According to MarketBeat, TPG currently has an average rating of “Moderate Buy” and an average target price of $47.25.

TPG Price Performance

TPG stock opened at $58.68 on Wednesday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $21.40 billion, a PE ratio of -419.14, a P/E/G ratio of 0.98 and a beta of 1.52. TPG Inc. has a 12-month low of $26.62 and a 12-month high of $60.35. The business’s fifty day moving average price is $50.09 and its 200 day moving average price is $45.53.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. The firm had revenue of $744.19 million for the quarter, compared to the consensus estimate of $449.34 million. TPG had a return on equity of 24.27% and a net margin of 1.08%. During the same quarter in the previous year, the business earned $0.26 EPS. On average, sell-side analysts anticipate that TPG Inc. will post 2.01 EPS for the current year.

TPG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, August 16th. This is an increase from TPG’s previous quarterly dividend of $0.41. TPG’s payout ratio is currently -1,200.00%.

TPG 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.