Boothbay Fund Management LLC Reduces Stock Position in TPG Inc. (NASDAQ:TPG)

Boothbay Fund Management LLC cut its stake in TPG Inc. (NASDAQ:TPG) by 7.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 23,268 shares of the company’s stock after selling 1,865 shares during the quarter. Boothbay Fund Management LLC’s holdings in TPG were worth $1,462,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Capital World Investors lifted its holdings in TPG by 484.6% in the fourth quarter. Capital World Investors now owns 3,065,321 shares of the company’s stock valued at $192,625,000 after acquiring an additional 2,541,013 shares during the last quarter. Norges Bank purchased a new position in TPG in the fourth quarter valued at $100,675,000. JPMorgan Chase & Co. increased its holdings in TPG by 2,515.8% in the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company’s stock valued at $104,296,000 after buying an additional 1,596,254 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in TPG by 146.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company’s stock valued at $96,166,000 after buying an additional 992,818 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of TPG by 43.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,253,070 shares of the company’s stock worth $141,584,000 after purchasing an additional 683,572 shares during the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TPG

In other news, General Counsel Bradford Berenson sold 2,509 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total transaction of $125,550.36. Following the completion of the sale, the general counsel now owns 290,841 shares in the company, valued at $14,553,683.64. The trade was a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 76.48% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $47.00 price objective (down previously from $80.00) on shares of TPG in a research note on Monday, April 14th. The Goldman Sachs Group cut their price objective on TPG from $70.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Citigroup lowered their target price on TPG from $72.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Bank of America decreased their price objective on TPG from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. Finally, Wells Fargo & Company decreased their price objective on TPG from $66.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, TPG currently has an average rating of “Hold” and an average price target of $58.25.

TPG Trading Up 0.5 %

TPG stock opened at $46.75 on Tuesday. The stock has a market cap of $17.27 billion, a P/E ratio of -106.25, a P/E/G ratio of 0.80 and a beta of 1.58. TPG Inc. has a 12 month low of $37.52 and a 12 month high of $72.98. The company’s fifty day simple moving average is $48.07 and its 200-day simple moving average is $59.62. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. TPG had a net margin of 0.67% and a return on equity of 24.66%. As a group, sell-side analysts forecast that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a $0.53 dividend. This is a positive change from TPG’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.12 annualized dividend and a yield of 4.53%. TPG’s payout ratio is currently -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.