TPG Inc. (NASDAQ:TPG) Stake Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in shares of TPG Inc. (NASDAQ:TPG) by 8.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 570,725 shares of the company’s stock after buying an additional 46,386 shares during the quarter. Bank of New York Mellon Corp owned about 0.16% of TPG worth $23,657,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina grew its stake in TPG by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 28,460 shares of the company’s stock worth $1,229,000 after buying an additional 280 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in TPG by 7.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 7,410 shares of the company’s stock worth $331,000 after buying an additional 500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in TPG by 5.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,430 shares of the company’s stock worth $556,000 after buying an additional 680 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in TPG during the 1st quarter worth $32,000. Finally, Principal Financial Group Inc. grew its stake in TPG by 18.9% during the 1st quarter. Principal Financial Group Inc. now owns 6,291 shares of the company’s stock worth $281,000 after buying an additional 1,000 shares during the last quarter. 86.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Morgan Stanley raised TPG from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $43.00 to $52.00 in a research note on Friday, May 10th. TD Cowen decreased their price target on TPG from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, July 8th. Finally, Jefferies Financial Group decreased their price target on TPG from $46.00 to $44.00 and set a “hold” rating for the company in a research note on Thursday, May 9th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.42.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,089 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $46.55, for a total transaction of $190,342.95. Following the completion of the sale, the director now directly owns 17,536 shares of the company’s stock, valued at $816,300.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 76.48% of the stock is currently owned by company insiders.

TPG Trading Up 1.4 %

Shares of NASDAQ TPG opened at $49.52 on Thursday. TPG Inc. has a 12 month low of $26.62 and a 12 month high of $51.62. The company has a market cap of $18.07 billion, a price-to-earnings ratio of -353.69, a P/E/G ratio of 0.86 and a beta of 1.52. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $46.54 and a 200-day simple moving average of $44.48.

TPG (NASDAQ:TPG) last announced its earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. TPG had a return on equity of 24.27% and a net margin of 1.08%. The business had revenue of $744.19 million during the quarter, compared to the consensus estimate of $449.34 million. During the same period in the prior year, the business posted $0.26 earnings per share. Sell-side analysts predict that TPG Inc. will post 2.01 EPS for the current year.

TPG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.39%. This is an increase from TPG’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, August 16th. TPG’s dividend payout ratio is currently -1,199.91%.

About TPG

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.