Victory Capital Management Inc. Trims Stake in TPG Inc. (NASDAQ:TPG)

Victory Capital Management Inc. lessened its stake in shares of TPG Inc. (NASDAQ:TPG) by 13.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 10,521 shares of the company’s stock after selling 1,608 shares during the period. Victory Capital Management Inc.’s holdings in TPG were worth $606,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its position 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 valued at $1,988,000 after acquiring an additional 33,936 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in TPG in the 2nd quarter valued at about $1,057,000. Millennium Management LLC lifted its holdings in TPG by 32.4% in the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock valued at $156,188,000 after purchasing an additional 922,571 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of TPG during the 2nd quarter worth about $606,000. Finally, California State Teachers Retirement System grew its holdings in shares of TPG by 32.5% during the first quarter. California State Teachers Retirement System now owns 78,113 shares of the company’s stock worth $3,492,000 after buying an additional 19,175 shares in the last quarter. Hedge funds and other institutional investors own 86.79% of the company’s stock.

TPG Stock Down 1.9 %

Shares of NASDAQ:TPG opened at $69.81 on Friday. TPG Inc. has a 1 year low of $34.07 and a 1 year high of $72.98. The stock has a 50-day simple moving average of $64.09 and a 200-day simple moving average of $52.07. 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 market capitalization of $25.48 billion, a P/E ratio of -205.32, a PEG ratio of 1.19 and a beta of 1.49.

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

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, November 14th. TPG’s dividend payout ratio (DPR) is presently -447.05%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TPG. Evercore ISI boosted their price objective on shares of TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. boosted their price target on TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Morgan Stanley raised their price objective on TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. The Goldman Sachs Group upped their target price on TPG from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, TD Cowen decreased their price target on TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $58.83.

TPG 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.