Navellier & Associates Inc. Sells 2,458 Shares of TPG Inc. (NASDAQ:TPG)

Navellier & Associates Inc. cut its stake in TPG Inc. (NASDAQ:TPG) by 24.0% in the third quarter, HoldingsChannel reports. The fund owned 7,804 shares of the company’s stock after selling 2,458 shares during the period. Navellier & Associates Inc.’s holdings in TPG were worth $449,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TPG. International Assets Investment Management LLC bought a new position in shares of TPG in the second quarter worth about $25,000. Signaturefd LLC raised its stake in shares of TPG by 21.3% during the third quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock worth $62,000 after buying an additional 188 shares during the last quarter. Covestor Ltd raised its stake in shares of TPG by 1,128.3% during the third quarter. Covestor Ltd now owns 1,867 shares of the company’s stock worth $107,000 after buying an additional 1,715 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of TPG during the first quarter worth approximately $112,000. Finally, KBC Group NV raised its stake in shares of TPG by 25.1% during the third quarter. KBC Group NV now owns 2,405 shares of the company’s stock worth $138,000 after buying an additional 482 shares during the last quarter. 86.79% of the stock is owned by institutional investors.

TPG Stock Up 3.9 %

TPG stock opened at $70.18 on Friday. The stock has a market capitalization of $25.61 billion, a PE ratio of -206.41, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. TPG Inc. has a twelve month low of $34.07 and a twelve month high of $70.67. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average of $63.01 and a 200-day moving average of $51.27.

TPG (NASDAQ:TPG) last announced its earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. TPG had a net margin of 0.69% and a return on equity of 23.45%. The business had revenue of $855.40 million during the quarter, compared to analysts’ expectations of $449.98 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. On average, equities research analysts anticipate that TPG Inc. will post 1.95 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, November 14th. TPG’s payout ratio is -447.05%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of TPG from $45.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company boosted their price target on shares of TPG from $67.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on shares of TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Evercore ISI boosted their price objective on shares of TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, TPG currently has a consensus rating of “Hold” and an average target price of $58.83.

TPG Company 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.