Geode Capital Management LLC Increases Stock Holdings in TPG Inc. (NASDAQ:TPG)

Geode Capital Management LLC lifted its position in shares of TPG Inc. (NASDAQ:TPG) by 7.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,442,001 shares of the company’s stock after purchasing an additional 102,663 shares during the period. Geode Capital Management LLC owned about 0.40% of TPG worth $83,023,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC increased its holdings in TPG by 58.6% during the 2nd quarter. SG Americas Securities LLC now owns 8,731 shares of the company’s stock worth $362,000 after purchasing an additional 3,226 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of TPG by 8.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 570,725 shares of the company’s stock worth $23,657,000 after acquiring an additional 46,386 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in TPG by 1,871.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 6,210 shares of the company’s stock worth $257,000 after purchasing an additional 5,895 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TPG by 24.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,740 shares of the company’s stock valued at $694,000 after buying an additional 3,260 shares during the period. Finally, Panagora Asset Management Inc. bought a new position in TPG in the second quarter worth about $946,000. 94.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of TPG from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Evercore ISI upped their price target on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a report on Monday, October 14th. BMO Capital Markets increased their price target on TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday. Morgan Stanley upped their price objective on shares of TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, TD Cowen decreased their target price on shares of TPG from $62.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $61.17.

TPG Stock Up 1.2 %

Shares of NASDAQ TPG opened at $63.98 on Friday. The firm has a 50 day moving average price of $67.03 and a 200 day moving average price of $54.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market cap of $23.35 billion, a P/E ratio of -188.17, a P/E/G ratio of 1.11 and a beta of 1.46. TPG Inc. has a 52-week low of $38.20 and a 52-week high of $72.98.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. TPG had a return on equity of 23.45% and a net margin of 0.69%. The business had revenue of $855.40 million for the quarter, compared to the consensus estimate of $449.98 million. During the same quarter last year, the business posted $0.56 EPS. Analysts expect that TPG Inc. will post 1.95 EPS for the current year.

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Thursday, November 14th. TPG’s payout ratio is currently -447.06%.

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.