Principal Financial Group Inc. Decreases Stock Holdings in TPG Inc. (NASDAQ:TPG)

Principal Financial Group Inc. trimmed its holdings in TPG Inc. (NASDAQ:TPG) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,068 shares of the company’s stock after selling 418 shares during the quarter. Principal Financial Group Inc.’s holdings in TPG were worth $349,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. QRG Capital Management Inc. raised its position in shares of TPG by 16.8% during the 3rd quarter. QRG Capital Management Inc. now owns 8,024 shares of the company’s stock valued at $462,000 after buying an additional 1,157 shares during the period. Harbor Capital Advisors Inc. increased its holdings in TPG by 17.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 24,026 shares of the company’s stock valued at $1,383,000 after purchasing an additional 3,636 shares during the last quarter. Private Wealth Partners LLC increased its holdings in TPG by 66.3% in the 3rd quarter. Private Wealth Partners LLC now owns 14,300 shares of the company’s stock valued at $823,000 after purchasing an additional 5,700 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in TPG in the 3rd quarter valued at approximately $208,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in TPG in the 3rd quarter valued at approximately $1,545,000. 86.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on TPG. TD Cowen dropped their price target on shares of TPG from $62.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. BMO Capital Markets increased their target price on TPG from $45.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Morgan Stanley increased their target price on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their target price on TPG from $67.00 to $69.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Evercore ISI increased their target price on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.83.

TPG Price Performance

Shares of TPG opened at $70.66 on Monday. TPG Inc. has a fifty-two week low of $34.07 and a fifty-two week high of $70.83. The company has a market capitalization of $25.79 billion, a price-to-earnings ratio of -207.82, a price-to-earnings-growth ratio of 1.16 and a beta of 1.49. The firm has a 50-day simple moving average of $63.30 and a 200-day simple moving average of $51.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25.

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, equities research analysts anticipate that TPG Inc. will post 1.95 earnings per share for the current year.

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a $0.38 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.15%. TPG’s dividend payout ratio (DPR) is presently -447.06%.

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.