Millennium Management LLC Purchases 1,837,799 Shares of TPG Inc. $TPG

Millennium Management LLC raised its position in shares of TPG Inc. (NASDAQ:TPG) by 66.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,584,733 shares of the company’s stock after purchasing an additional 1,837,799 shares during the period. Millennium Management LLC owned 1.21% of TPG worth $292,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TPG. Picton Mahoney Asset Management purchased a new stake in shares of TPG during the third quarter worth $24,334,000. Fortress Investment Group LLC purchased a new stake in shares of TPG in the third quarter worth $17,167,000. Hudson Bay Capital Management LP purchased a new stake in shares of TPG in the third quarter worth $2,059,000. Franklin Resources Inc. raised its position in shares of TPG by 18.9% in the third quarter. Franklin Resources Inc. now owns 2,672,272 shares of the company’s stock worth $153,522,000 after buying an additional 425,223 shares in the last quarter. Finally, Capital International Investors raised its position in shares of TPG by 3.5% in the third quarter. Capital International Investors now owns 11,682,464 shares of the company’s stock worth $671,158,000 after buying an additional 392,336 shares in the last quarter. 94.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. UBS Group increased their price objective on TPG from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. TD Cowen lowered their price objective on TPG from $48.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. The Goldman Sachs Group reiterated a “buy” rating and issued a $61.00 price objective on shares of TPG in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft set a $55.00 price objective on TPG in a research report on Monday, May 4th. Finally, Evercore set a $47.00 price objective on TPG in a research report on Tuesday, April 21st. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.75.

TPG Trading Down 4.7%

NASDAQ TPG opened at $42.56 on Thursday. The stock’s 50-day simple moving average is $42.46 and its two-hundred day simple moving average is $50.16. TPG Inc. has a twelve month low of $36.95 and a twelve month high of $70.38. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 193.46, a PEG ratio of 0.80 and a beta of 1.44.

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

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Monday, May 11th. TPG’s dividend payout ratio (DPR) is 1,072.73%.

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.