Cinctive Capital Management LP Increases Position in TPG Inc. $TPG

Cinctive Capital Management LP lifted its holdings in TPG Inc. (NASDAQ:TPG) by 79.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 97,796 shares of the company’s stock after acquiring an additional 43,336 shares during the quarter. Cinctive Capital Management LP’s holdings in TPG were worth $6,243,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in shares of TPG in the 3rd quarter worth approximately $24,334,000. Fortress Investment Group LLC purchased a new position in shares of TPG in the 3rd quarter worth approximately $17,167,000. Hudson Bay Capital Management LP purchased a new position in shares of TPG in the 3rd quarter worth approximately $2,059,000. Franklin Resources Inc. boosted its stake in shares of TPG by 18.9% in the 3rd 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 during the last quarter. Finally, Capital International Investors boosted its stake in shares of TPG by 3.5% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

TPG Price Performance

TPG stock opened at $42.56 on Thursday. TPG Inc. has a 12 month low of $36.95 and a 12 month high of $70.38. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.63. The business’s 50 day simple moving average is $42.46 and its 200 day simple moving average is $50.16. The company has a market cap 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 issued its earnings results on Friday, May 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.09. TPG had a net margin of 3.81% and a return on equity of 28.13%. The business had revenue of $557.18 million for the quarter, compared to analysts’ expectations of $608.07 million. During the same quarter in the previous year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts forecast that TPG Inc. will post 2.86 EPS for the current year.

TPG Cuts Dividend

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

Analyst Ratings Changes

Several research firms recently commented on TPG. Wall Street Zen upgraded TPG from a “sell” rating to a “hold” rating in a research note on Sunday, June 7th. BMO Capital Markets dropped their price objective on TPG from $60.00 to $48.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 24th. Morgan Stanley set a $60.00 price objective on TPG in a research note on Tuesday, April 21st. Weiss Ratings downgraded TPG from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Finally, UBS Group upped their price objective on TPG from $54.00 to $59.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $61.75.

About TPG

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.