Fortress Investment Group LLC Invests $17.17 Million in TPG Inc. $TPG

Fortress Investment Group LLC acquired a new stake in shares of TPG Inc. (NASDAQ:TPG) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 298,813 shares of the company’s stock, valued at approximately $17,167,000. TPG makes up about 2.3% of Fortress Investment Group LLC’s investment portfolio, making the stock its 13th largest position.

Other institutional investors also recently bought and sold shares of the company. Darlington Partners Capital Management LP bought a new position in TPG in the second quarter worth approximately $258,581,000. Norges Bank purchased a new position in shares of TPG in the 2nd quarter valued at $83,794,000. Bank of America Corp DE increased its holdings in shares of TPG by 72.7% in the 3rd quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock valued at $204,960,000 after acquiring an additional 1,501,808 shares during the period. Balyasny Asset Management L.P. bought a new position in shares of TPG in the 2nd quarter worth $54,088,000. Finally, Geode Capital Management LLC raised its position in shares of TPG by 30.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,529,402 shares of the company’s stock worth $185,136,000 after acquiring an additional 831,865 shares in the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TPG shares. Wolfe Research reaffirmed an “outperform” rating and set a $80.00 price objective on shares of TPG in a research report on Wednesday, January 7th. The Goldman Sachs Group reiterated a “buy” rating and issued a $80.00 target price on shares of TPG in a report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c)” rating on shares of TPG in a research report on Monday, December 29th. UBS Group cut their price objective on shares of TPG from $83.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, Citigroup upgraded shares of TPG to an “outperform” rating in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.80.

TPG Stock Up 3.7%

Shares of TPG stock opened at $40.50 on Monday. The stock’s fifty day moving average price is $53.94 and its 200 day moving average price is $57.62. TPG Inc. has a 1-year low of $37.52 and a 1-year high of $70.38. The company has a market cap of $15.56 billion, a price-to-earnings ratio of 92.05, a price-to-earnings-growth ratio of 0.59 and a beta of 1.55. 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 (NASDAQ:TPG) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.20. The company had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $548.40 million. TPG had a return on equity of 26.02% and a net margin of 3.95%.The firm’s revenue was up 35.6% compared to the same quarter last year. During the same period last year, the business posted $0.62 earnings per share. On average, research analysts expect that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 19th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Thursday, February 19th. This is an increase from TPG’s previous quarterly dividend of $0.45. TPG’s payout ratio is 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.