Norges Bank Purchases Shares of 1,672,223 TPG Inc. $TPG

Norges Bank purchased a new stake in shares of TPG Inc. (NASDAQ:TPG) during the fourth quarter, Holdings Channel reports. The fund purchased 1,672,223 shares of the company’s stock, valued at approximately $106,755,000.

A number of other institutional investors have also bought and sold shares of TPG. Darlington Partners Capital Management LP bought a new stake in TPG during the second quarter valued at $258,581,000. Bank of America Corp DE boosted its position in TPG by 72.7% during the third 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 last quarter. Balyasny Asset Management L.P. bought a new stake in TPG during the second quarter valued at $54,088,000. Goldman Sachs Group Inc. raised its holdings in shares of TPG by 4,109.1% during the first quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock valued at $27,083,000 after purchasing an additional 557,438 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of TPG by 262.0% during the third quarter. First Trust Advisors LP now owns 747,913 shares of the company’s stock valued at $42,968,000 after purchasing an additional 541,304 shares during the period. Institutional investors own 94.03% of the company’s stock.

TPG Price Performance

Shares of NASDAQ TPG opened at $42.15 on Friday. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.63. TPG Inc. has a 1-year low of $36.95 and a 1-year high of $70.38. The firm has a market capitalization of $16.20 billion, a P/E ratio of 191.60, a P/E/G ratio of 0.73 and a beta of 1.44. The firm’s 50-day moving average price is $41.87 and its 200-day moving average price is $51.02.

TPG (NASDAQ:TPG) last posted its earnings results on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. TPG had a net margin of 3.81% and a return on equity of 28.13%. The company had revenue of $557.18 million for the quarter, compared to analyst estimates of $608.07 million. During the same quarter in the prior year, the business posted $0.48 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. Equities research analysts anticipate that TPG Inc. will post 2.86 earnings per share for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Monday, May 11th. TPG’s dividend payout ratio is currently 1,072.73%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating on shares of TPG in a report on Wednesday, March 4th. BMO Capital Markets dropped their price objective on shares of TPG from $60.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, March 24th. Barclays upped their price objective on shares of TPG from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Wall Street Zen lowered shares of TPG from a “hold” rating to a “sell” rating in a report on Saturday, May 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $61.00 price objective on shares of TPG in a report on Tuesday, May 5th. Twelve analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $61.75.

TPG Profile

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.