Verition Fund Management LLC Sells 2,663 Shares of TPG Inc. (NASDAQ:TPG)

Verition Fund Management LLC lessened its stake in shares of TPG Inc. (NASDAQ:TPG) by 27.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,070 shares of the company’s stock after selling 2,663 shares during the period. Verition Fund Management LLC’s holdings in TPG were worth $407,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of TPG by 5,656.0% in the third quarter. International Assets Investment Management LLC now owns 34,536 shares of the company’s stock worth $1,988,000 after purchasing an additional 33,936 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of TPG in the second quarter worth $1,057,000. Millennium Management LLC grew its stake in shares of TPG by 32.4% in the second quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock worth $156,188,000 after purchasing an additional 922,571 shares during the last quarter. Quest Partners LLC bought a new stake in shares of TPG in the second quarter worth $606,000. Finally, Renaissance Capital LLC grew its stake in shares of TPG by 20.0% in the third quarter. Renaissance Capital LLC now owns 90,618 shares of the company’s stock worth $5,216,000 after purchasing an additional 15,131 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

TPG Price Performance

Shares of NASDAQ TPG opened at $68.37 on Friday. The firm’s 50-day moving average price is $66.45 and its 200-day moving average price is $54.00. TPG Inc. has a 1-year low of $37.14 and a 1-year high of $72.98. The firm has a market capitalization of $24.95 billion, a P/E ratio of -201.09, a P/E/G ratio of 1.14 and a beta of 1.46. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.39.

TPG (NASDAQ:TPG) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $855.40 million for the quarter, compared to analyst estimates of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.45%. During the same quarter in the prior year, the business earned $0.56 earnings per share. Equities research analysts anticipate that TPG Inc. will post 1.95 earnings per share for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.22%. The ex-dividend date was Thursday, November 14th. TPG’s payout ratio is presently -447.06%.

Wall Street Analyst Weigh In

TPG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. BMO Capital Markets boosted their target price on shares of TPG from $45.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Morgan Stanley boosted their target price on shares of TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen dropped their target price on shares of TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Finally, The Goldman Sachs Group boosted their target price on shares of TPG from $67.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $60.08.

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.