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

Massachusetts Financial Services Co. MA cut its stake in TPG Inc. (NASDAQ:TPG) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,160,631 shares of the company’s stock after selling 117,518 shares during the period. Massachusetts Financial Services Co. MA owned about 1.69% of TPG worth $387,134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in TPG by 19.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 23,575 shares of the company’s stock worth $1,357,000 after acquiring an additional 3,802 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of TPG by 5.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,705 shares of the company’s stock worth $1,019,000 after purchasing an additional 965 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of TPG by 2.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 322,991 shares of the company’s stock worth $18,591,000 after purchasing an additional 8,615 shares in the last quarter. Edgestream Partners L.P. purchased a new position in TPG in the third quarter valued at $342,000. Finally, Quarry LP raised its stake in TPG by 136.2% in the third quarter. Quarry LP now owns 3,201 shares of the company’s stock valued at $184,000 after buying an additional 1,846 shares in the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. BMO Capital Markets increased their price objective on TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods increased their price target on shares of TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. JMP Securities restated a “market perform” rating on shares of TPG in a research report on Thursday, February 13th. Wells Fargo & Company dropped their target price on shares of TPG from $78.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. Finally, Evercore ISI boosted their price target on shares of TPG from $65.00 to $66.00 and gave the company an “in-line” rating in a research report on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, TPG currently has a consensus rating of “Hold” and a consensus price target of $63.18.

Insider Transactions at TPG

In other news, General Counsel Bradford Berenson sold 2,509 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total value of $125,550.36. Following the completion of the sale, the general counsel now directly owns 290,841 shares of the company’s stock, valued at $14,553,683.64. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah M. Messemer sold 1,695 shares of the company’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $61.91, for a total value of $104,937.45. Following the transaction, the director now directly owns 15,841 shares in the company, valued at $980,716.31. This represents a 9.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 76.48% of the company’s stock.

TPG Stock Performance

NASDAQ TPG opened at $49.62 on Thursday. The business’s 50-day moving average price is $56.11 and its 200 day moving average price is $61.73. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36. The firm has a market cap of $18.33 billion, a P/E ratio of -112.77, a P/E/G ratio of 0.80 and a beta of 1.54. TPG Inc. has a 52-week low of $39.18 and a 52-week high of $72.98.

TPG (NASDAQ:TPG) last announced its earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. On average, equities research analysts expect that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.12 dividend on an annualized basis and a yield of 4.27%. This is an increase from TPG’s previous quarterly dividend of $0.38. TPG’s dividend payout ratio is presently -481.82%.

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.