JPMorgan Chase & Co. Lowers Stake in TPG Inc. $TPG

JPMorgan Chase & Co. cut its stake in TPG Inc. (NASDAQ:TPG) by 7.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,501,843 shares of the company’s stock after selling 121,340 shares during the period. JPMorgan Chase & Co. owned about 0.40% of TPG worth $86,282,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D boosted its holdings in shares of TPG by 2.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 43,081 shares of the company’s stock worth $2,475,000 after purchasing an additional 873 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in TPG by 252.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 790 shares of the company’s stock worth $45,000 after buying an additional 566 shares during the last quarter. ABN Amro Investment Solutions lifted its position in TPG by 25.9% in the 3rd quarter. ABN Amro Investment Solutions now owns 77,538 shares of the company’s stock worth $4,455,000 after buying an additional 15,959 shares during the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in TPG in the third quarter worth approximately $2,257,000. Finally, Cibc World Market Inc. bought a new position in TPG during the third quarter valued at approximately $323,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.

Analyst Ratings Changes

TPG has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of TPG from $78.00 to $76.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Citigroup raised shares of TPG to an “outperform” rating in a research note on Monday, February 9th. TD Cowen restated a “hold” rating on shares of TPG in a research report on Wednesday, January 14th. UBS Group reduced their price objective on TPG from $83.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of TPG in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.67.

TPG Stock Down 4.9%

Shares of NASDAQ:TPG opened at $42.34 on Tuesday. The stock’s 50-day moving average is $60.07 and its 200 day moving average is $59.48. The company has a market cap of $16.01 billion, a PE ratio of 96.23, a P/E/G ratio of 0.66 and a beta of 1.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. TPG Inc. has a 1 year low of $37.52 and a 1 year high of $70.38.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.20. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $548.40 million. TPG had a return on equity of 26.02% and a net margin of 3.95%.The business’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS. Sell-side analysts anticipate that TPG Inc. will post 2.52 EPS for the current year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 19th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Thursday, February 19th. This is an increase from TPG’s previous quarterly dividend of $0.45. TPG’s payout ratio is presently 554.55%.

About TPG

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.