River Road Asset Management LLC Buys New Stake in TPG Inc. $TPG

River Road Asset Management LLC purchased a new position in TPG Inc. (NASDAQ:TPG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 244,359 shares of the company’s stock, valued at approximately $13,946,000. River Road Asset Management LLC owned approximately 0.07% of TPG as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Grandeur Peak Global Advisors LLC lifted its position in shares of TPG by 4.9% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 73,298 shares of the company’s stock worth $3,844,000 after buying an additional 3,427 shares during the period. New York State Common Retirement Fund raised its stake in TPG by 42.1% during the second quarter. New York State Common Retirement Fund now owns 69,162 shares of the company’s stock worth $3,628,000 after acquiring an additional 20,500 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in TPG by 0.4% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 160,491 shares of the company’s stock worth $8,418,000 after acquiring an additional 691 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of TPG by 76.0% during the second quarter. Neuberger Berman Group LLC now owns 577,459 shares of the company’s stock valued at $30,288,000 after acquiring an additional 249,347 shares during the period. Finally, Norges Bank acquired a new stake in shares of TPG in the 2nd quarter valued at $83,794,000. 94.03% of the stock is owned by institutional investors and hedge funds.

TPG Stock Down 1.7%

Shares of TPG opened at $58.07 on Tuesday. The business’s fifty day moving average price is $56.83 and its two-hundred day moving average price is $56.11. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 645.22, a PEG ratio of 1.08 and a beta of 1.51. TPG Inc. has a 52 week low of $37.52 and a 52 week high of $71.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $509.40 million for the quarter, compared to analyst estimates of $510.32 million. TPG had a net margin of 2.83% and a return on equity of 25.79%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $0.45 EPS. On average, analysts predict that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, November 14th. TPG’s dividend payout ratio (DPR) is 2,000.00%.

Wall Street Analyst Weigh In

TPG has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their target price on shares of TPG from $61.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Citigroup reduced their price target on shares of TPG from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Evercore ISI raised their price objective on shares of TPG from $52.00 to $60.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. JPMorgan Chase & Co. cut their target price on shares of TPG from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of TPG in a research report on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, TPG currently has an average rating of “Moderate Buy” and an average target price of $66.62.

TPG Profile

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.