Geode Capital Management LLC Has $83.02 Million Stock Position in TPG Inc. (NASDAQ:TPG)

Geode Capital Management LLC lifted its holdings in shares of TPG Inc. (NASDAQ:TPG) by 7.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,442,001 shares of the company’s stock after buying an additional 102,663 shares during the period. Geode Capital Management LLC’s holdings in TPG were worth $83,023,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TPG. International Assets Investment Management LLC grew its stake in TPG by 5,656.0% in the third quarter. International Assets Investment Management LLC now owns 34,536 shares of the company’s stock valued at $1,988,000 after purchasing an additional 33,936 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of TPG in the second quarter valued at $1,057,000. Millennium Management LLC increased its holdings in TPG by 32.4% during the second quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock worth $156,188,000 after buying an additional 922,571 shares during the last quarter. Quest Partners LLC bought a new stake in TPG during the second quarter worth $606,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in TPG by 4.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 770,998 shares of the company’s stock valued at $44,379,000 after acquiring an additional 31,638 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

Analyst Ratings Changes

TPG has been the topic of several recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of TPG from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Morgan Stanley upped their price objective on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Evercore ISI raised their target price 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. Deutsche Bank Aktiengesellschaft raised their price objective on shares of TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company upped their target price on TPG from $68.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.17.

TPG Stock Performance

NASDAQ:TPG opened at $63.98 on Friday. The company has a market cap of $23.35 billion, a price-to-earnings ratio of -188.17, a PEG ratio of 1.11 and a beta of 1.46. TPG Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $72.98. 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 stock has a fifty day moving average price of $67.03 and a 200-day moving average price of $54.80.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The business had revenue of $855.40 million during the quarter, compared to analysts’ expectations 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 posted $0.56 earnings per share. As a group, equities analysts anticipate that TPG Inc. will post 1.95 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.38%. TPG’s dividend payout ratio (DPR) is currently -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.