Massachusetts Financial Services Co. MA Raises Stock Holdings in TPG Inc. (NASDAQ:TPG)

Massachusetts Financial Services Co. MA lifted its holdings in shares of TPG Inc. (NASDAQ:TPG) by 5.8% during the second quarter, HoldingsChannel.com reports. The fund owned 6,710,751 shares of the company’s stock after purchasing an additional 366,306 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in TPG were worth $278,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TPG. International Assets Investment Management LLC acquired a new stake in shares of TPG during the second quarter worth about $25,000. YHB Investment Advisors Inc. purchased a new stake in TPG during the 1st quarter valued at approximately $32,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in TPG during the 1st quarter worth approximately $112,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of TPG in the 1st quarter valued at approximately $151,000. Finally, MQS Management LLC acquired a new position in shares of TPG in the first quarter valued at approximately $201,000. 86.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TPG has been the topic of several recent research reports. TD Cowen dropped their price objective on shares of TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday, July 8th. JPMorgan Chase & Co. increased their price target on shares of TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company began coverage on TPG in a report on Thursday, September 12th. They issued an “overweight” rating and a $60.00 price objective on the stock. Finally, The Goldman Sachs Group increased their target price on TPG from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, September 13th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.25.

Insider Transactions at TPG

In related news, Director Deborah M. Messemer sold 4,089 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $46.55, for a total transaction of $190,342.95. Following the completion of the sale, the director now owns 17,536 shares of the company’s stock, valued at approximately $816,300.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 76.48% of the company’s stock.

TPG Stock Performance

Shares of TPG opened at $57.46 on Wednesday. TPG Inc. has a 1 year low of $26.62 and a 1 year high of $57.95. The company’s 50 day simple moving average is $48.31 and its 200 day simple moving average is $44.97. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of -410.43, a PEG ratio of 0.92 and a beta of 1.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25.

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

TPG Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, August 16th. This is a positive change from TPG’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 2.92%. TPG’s dividend payout ratio is currently -1,200.00%.

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.