TPG Inc. $TPG Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in shares of TPG Inc. (NASDAQ:TPG) by 17.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 511,975 shares of the company’s stock after acquiring an additional 74,410 shares during the period. Bank of New York Mellon Corp’s holdings in TPG were worth $26,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of TPG. Tokio Marine Asset Management Co. Ltd. purchased a new stake in TPG in the 1st quarter valued at approximately $237,000. Cresset Asset Management LLC purchased a new position in TPG during the first quarter worth $216,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of TPG by 28.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,201,727 shares of the company’s stock worth $104,428,000 after acquiring an additional 481,418 shares during the last quarter. Partners Group Holding AG raised its holdings in shares of TPG by 53.2% in the first quarter. Partners Group Holding AG now owns 528,824 shares of the company’s stock worth $25,082,000 after acquiring an additional 183,570 shares during the last quarter. Finally, Clear Harbor Asset Management LLC lifted its position in shares of TPG by 38.8% in the second quarter. Clear Harbor Asset Management LLC now owns 76,985 shares of the company’s stock valued at $4,038,000 after acquiring an additional 21,522 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of TPG in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of TPG from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. BNP Paribas raised shares of TPG to a “strong-buy” rating in a research report on Wednesday, July 30th. BNP Paribas Exane raised shares of TPG from a “neutral” rating to an “outperform” rating and set a $69.00 price objective on the stock in a research note on Wednesday, July 30th. Finally, Evercore ISI raised their target price on shares of TPG from $52.00 to $60.00 and gave the stock an “in-line” rating in a research report on Friday, August 8th. Two equities 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.62.

TPG Price Performance

Shares of NASDAQ:TPG opened at $57.87 on Friday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The firm has a market cap of $21.87 billion, a price-to-earnings ratio of 643.00, a PEG ratio of 1.06 and a beta of 1.52. The stock’s 50-day moving average price is $57.95 and its two-hundred day moving average price is $55.41. TPG Inc. has a 12-month low of $37.52 and a 12-month high of $72.98.

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

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, November 14th. TPG’s dividend payout ratio (DPR) is 2,622.22%.

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.