Renaissance Technologies LLC Raises Position in TPG Inc. (NASDAQ:TPG)

Renaissance Technologies LLC grew its holdings in shares of TPG Inc. (NASDAQ:TPG) by 49.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 461,900 shares of the company’s stock after purchasing an additional 153,100 shares during the quarter. Renaissance Technologies LLC owned approximately 0.13% of TPG worth $19,146,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in TPG. Norges Bank purchased a new position in shares of TPG during the 4th quarter worth $52,189,000. Oxford Asset Management LLP purchased a new position in shares of TPG during the 4th quarter worth $265,000. Treasurer of the State of North Carolina lifted its stake in shares of 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 purchasing an additional 280 shares during the period. Pinebridge Investments L.P. purchased a new position in shares of TPG in the 4th quarter worth $3,532,000. Finally, Stamos Capital Partners L.P. acquired a new position in TPG in the fourth quarter valued at $517,000. Hedge funds and other institutional investors own 86.79% of the company’s stock.

Insider Activity at TPG

In other TPG news, Director Deborah M. Messemer sold 4,089 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $46.55, for a total transaction of $190,342.95. Following the transaction, the director now directly owns 17,536 shares in the company, valued at approximately $816,300.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 76.48% of the company’s stock.

TPG Price Performance

TPG opened at $58.72 on Friday. The company has a fifty day simple moving average of $49.32 and a 200 day simple moving average of $45.25. The firm has a market cap of $21.41 billion, a price-to-earnings ratio of -419.43, a PEG ratio of 0.98 and a beta of 1.52. TPG Inc. has a twelve month low of $26.62 and a twelve month high of $60.35. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $744.19 million during the quarter, compared to analyst estimates 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 business earned $0.26 EPS. Equities research analysts expect that TPG Inc. will post 2.01 EPS for the current fiscal year.

TPG Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.86%. This is a positive change 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 (DPR) is presently -1,200.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TPG shares. TD Cowen dropped 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. The Goldman Sachs Group increased their target price on shares of TPG from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Wells Fargo & Company began coverage on shares of TPG in a report on Thursday, September 12th. They issued an “overweight” rating and a $60.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.25.

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.