TPG Inc. (NASDAQ:TPG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in TPG Inc. (NASDAQ:TPG) by 6.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,068 shares of the company’s stock after selling 418 shares during the quarter. Principal Financial Group Inc.’s holdings in TPG were worth $349,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TPG. Signaturefd LLC grew its position in shares of TPG by 21.3% in the third quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock valued at $62,000 after purchasing an additional 188 shares during the last quarter. Covestor Ltd increased its stake in shares of TPG by 1,128.3% in the third quarter. Covestor Ltd now owns 1,867 shares of the company’s stock valued at $107,000 after buying an additional 1,715 shares in the last quarter. KBC Group NV lifted its position in shares of TPG by 25.1% during the third quarter. KBC Group NV now owns 2,405 shares of the company’s stock worth $138,000 after purchasing an additional 482 shares in the last quarter. Quarry LP increased its stake in shares of TPG by 136.2% in the 3rd quarter. Quarry LP now owns 3,201 shares of the company’s stock valued at $184,000 after buying an additional 1,846 shares during the period. Finally, Iron Gate Global Advisors LLC acquired a new position in TPG during the 3rd quarter valued at about $201,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

TPG Price Performance

TPG stock opened at $66.05 on Tuesday. The stock has a 50-day moving average price of $66.84 and a two-hundred day moving average price of $56.98. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.39. TPG Inc. has a 12 month low of $38.20 and a 12 month high of $72.98. The company has a market capitalization of $24.11 billion, a PE ratio of -194.26, a P/E/G ratio of 1.11 and a beta of 1.49.

TPG (NASDAQ:TPG) last released its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. TPG had a net margin of 0.69% and a return on equity of 23.45%. The business had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. During the same quarter in the prior year, the firm posted $0.56 EPS. Analysts expect that TPG Inc. will post 1.95 EPS for the current year.

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Thursday, November 14th. TPG’s dividend payout ratio (DPR) is currently -447.06%.

Analysts Set New Price Targets

Several equities analysts have weighed in on TPG shares. TD Cowen cut their target price on TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods raised their price objective on TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Wells Fargo & Company raised their target price on shares of TPG from $68.00 to $83.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of TPG from $67.00 to $69.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Morgan Stanley increased their target price on shares of TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $63.00.

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.