Millennium Management LLC Buys 922,571 Shares of TPG Inc. (NASDAQ:TPG)

Millennium Management LLC grew its stake in TPG Inc. (NASDAQ:TPG) by 32.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,768,113 shares of the company’s stock after buying an additional 922,571 shares during the period. Millennium Management LLC’s holdings in TPG were worth $156,188,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in TPG by 21.6% in the first quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock worth $328,826,000 after acquiring an additional 1,305,799 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in TPG by 902.4% during the second quarter. Thrivent Financial for Lutherans now owns 418,608 shares of the company’s stock worth $17,352,000 after purchasing an additional 376,848 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in TPG by 5.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock worth $278,161,000 after purchasing an additional 366,306 shares during the last quarter. Capital International Investors boosted its holdings in shares of TPG by 9.6% in the 1st quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock worth $172,581,000 after purchasing an additional 336,665 shares in the last quarter. Finally, Putnam Investments LLC increased its position in shares of TPG by 8.6% during the 4th quarter. Putnam Investments LLC now owns 2,362,082 shares of the company’s stock valued at $101,971,000 after purchasing an additional 187,183 shares during the last quarter. Hedge funds and other institutional investors own 86.79% of the company’s stock.

TPG Price Performance

TPG stock opened at $58.01 on Friday. The stock has a market capitalization of $21.16 billion, a price-to-earnings ratio of -414.33, a PEG ratio of 1.00 and a beta of 1.52. The firm’s 50-day moving average price is $50.73 and its two-hundred day moving average price is $45.80. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. TPG Inc. has a 12-month low of $26.62 and a 12-month high of $60.35.

TPG (NASDAQ:TPG) last announced 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. TPG had a return on equity of 24.27% and a net margin of 1.08%. The company had revenue of $744.19 million for the quarter, compared to the consensus estimate of $449.34 million. During the same quarter in the previous year, the business earned $0.26 EPS. As a group, equities analysts predict that TPG Inc. will post 2.01 earnings per share for the current year.

TPG Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend was Friday, August 16th. This is an increase from TPG’s previous quarterly dividend of $0.41. TPG’s dividend payout ratio is currently -1,199.91%.

Insider Buying and Selling

In other TPG news, Director Deborah M. Messemer sold 4,089 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 17,536 shares of the company’s stock, valued at approximately $816,300.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 76.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.