Rhumbline Advisers Grows Stock Position in TPG Inc. (NASDAQ:TPG)

Rhumbline Advisers increased its position in TPG Inc. (NASDAQ:TPG) by 11.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,333 shares of the company’s stock after acquiring an additional 8,105 shares during the quarter. Rhumbline Advisers’ holdings in TPG were worth $3,205,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TPG. International Assets Investment Management LLC bought a new stake in shares of TPG during the second quarter valued at approximately $25,000. YHB Investment Advisors Inc. purchased a new position in TPG during the first quarter worth $32,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of TPG during the first quarter valued at $112,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of TPG during the first quarter valued at $151,000. Finally, MQS Management LLC bought a new stake in shares of TPG in the first quarter valued at about $201,000. 86.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Deborah M. Messemer sold 4,089 shares of TPG stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $46.55, for a total value of $190,342.95. Following the completion of the sale, the director now owns 17,536 shares in the company, valued at $816,300.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TPG shares. JPMorgan Chase & Co. boosted their target price on shares of TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company assumed coverage on shares of TPG in a report on Thursday, September 12th. They set an “overweight” rating and a $60.00 target price for the company. TD Cowen reduced their target price on shares of TPG from $44.00 to $42.00 and set a “hold” rating for the company in a report on Monday, July 8th. Finally, The Goldman Sachs Group lifted their price objective on shares of TPG from $53.00 to $60.00 and gave the company a “buy” rating in a report on Friday, September 13th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.25.

TPG Stock Performance

Shares of NASDAQ TPG opened at $57.46 on Wednesday. The company has a market cap of $20.95 billion, a PE ratio of -407.64, a price-to-earnings-growth ratio of 0.92 and a beta of 1.52. TPG Inc. has a 12 month low of $26.62 and a 12 month high of $57.95. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.25 and a quick ratio of 0.25. The company has a 50-day simple moving average of $48.31 and a 200-day simple moving average of $44.97.

TPG (NASDAQ:TPG) last released its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06. The business had revenue of $744.19 million for the quarter, compared to analysts’ expectations of $449.34 million. TPG had a net margin of 1.08% and a return on equity of 24.27%. During the same period last year, the company earned $0.26 earnings per share. On average, equities analysts anticipate that TPG Inc. will post 2.01 earnings per share for the current year.

TPG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, August 16th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.92%. This is a positive change from TPG’s previous quarterly dividend of $0.41. TPG’s dividend payout ratio (DPR) is currently -1,200.00%.

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.