Covestor Ltd Increases Stock Position in TPG Inc. (NASDAQ:TPG)

Covestor Ltd boosted its stake in TPG Inc. (NASDAQ:TPG) by 1,128.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,867 shares of the company’s stock after purchasing an additional 1,715 shares during the period. Covestor Ltd’s holdings in TPG were worth $107,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of TPG in the second quarter worth $25,000. Signaturefd LLC increased its holdings in TPG by 21.3% during the 3rd quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock worth $62,000 after purchasing an additional 188 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in TPG in the 1st quarter valued at about $112,000. MQS Management LLC purchased a new position in shares of TPG in the 1st quarter valued at about $201,000. Finally, Shoker Investment Counsel Inc. acquired a new position in shares of TPG during the third quarter worth about $203,000. 86.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TPG. Evercore ISI lifted their price target on shares of TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. TD Cowen cut their price target on TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their price objective on TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company raised their target price on TPG from $67.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their price target on TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $57.67.

TPG Stock Down 1.6 %

Shares of TPG stock opened at $67.64 on Wednesday. TPG Inc. has a one year low of $31.25 and a one year high of $70.67. The company has a market cap of $24.68 billion, a P/E ratio of -198.94, a PEG ratio of 1.08 and a beta of 1.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25. The firm has a fifty day moving average of $60.70 and a two-hundred day moving average of $50.23.

TPG (NASDAQ:TPG) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The firm had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.45%. During the same quarter last year, the firm earned $0.56 earnings per share. On average, analysts forecast that TPG Inc. will post 1.94 earnings per share for the current year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, November 14th. TPG’s payout ratio is -447.06%.

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.