Allspring Global Investments Holdings LLC Sells 490 Shares of TPG Inc. (NASDAQ:TPG)

Allspring Global Investments Holdings LLC decreased its position in shares of TPG Inc. (NASDAQ:TPG) by 7.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,720 shares of the company’s stock after selling 490 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in TPG were worth $329,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in TPG during the 2nd quarter worth approximately $25,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in TPG during the 1st quarter worth approximately $112,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in TPG during the 1st quarter worth approximately $151,000. Ritholtz Wealth Management bought a new position in TPG during the 3rd quarter worth approximately $222,000. Finally, MQS Management LLC bought a new position in TPG during the 1st quarter worth approximately $201,000. Institutional investors own 86.79% of the company’s stock.

TPG Price Performance

NASDAQ TPG opened at $65.94 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37. TPG Inc. has a 12-month low of $28.22 and a 12-month high of $69.86. The company has a market capitalization of $24.06 billion, a PE ratio of -188.39, a price-to-earnings-growth ratio of 1.07 and a beta of 1.49. The firm’s 50 day moving average is $58.52 and its 200-day moving average is $49.04.

TPG (NASDAQ:TPG) last released its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. TPG had a net margin of 1.08% and a return on equity of 24.27%. The business had revenue of $744.19 million during the quarter, compared to analysts’ expectations of $449.34 million. During the same period last year, the business earned $0.26 earnings per share. Equities research analysts anticipate that TPG Inc. will post 1.96 earnings per share for the current fiscal year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.42 dividend. The ex-dividend date was Friday, August 16th. This is a boost from TPG’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 2.55%. TPG’s dividend payout ratio (DPR) is currently -479.99%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. raised 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. Morgan Stanley raised their target price on shares of TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. TD Cowen dropped their target price on shares of TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, July 8th. The Goldman Sachs Group raised their target price on shares of TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company raised their target price on shares of TPG from $60.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, TPG presently has an average rating of “Hold” and a consensus target price of $52.25.

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.