Thrivent Financial for Lutherans Buys 376,848 Shares of TPG Inc. (NASDAQ:TPG)

Thrivent Financial for Lutherans boosted its stake in shares of TPG Inc. (NASDAQ:TPG) by 902.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,608 shares of the company’s stock after purchasing an additional 376,848 shares during the quarter. Thrivent Financial for Lutherans owned about 0.11% of TPG worth $17,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Sei Investments Co. bought a new stake in TPG during the second quarter valued at about $337,000. Amalgamated Bank raised its stake in TPG by 17.4% in the second quarter. Amalgamated Bank now owns 15,057 shares of the company’s stock valued at $624,000 after buying an additional 2,227 shares during the last quarter. Renaissance Technologies LLC raised its stake in TPG by 49.6% in the second quarter. Renaissance Technologies LLC now owns 461,900 shares of the company’s stock valued at $19,146,000 after buying an additional 153,100 shares during the last quarter. Quantbot Technologies LP raised its stake in TPG by 117.2% in the second quarter. Quantbot Technologies LP now owns 78,869 shares of the company’s stock valued at $3,269,000 after buying an additional 42,554 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in TPG by 5.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock valued at $278,161,000 after buying an additional 366,306 shares during the last quarter. Institutional investors own 86.79% of the company’s stock.

TPG Stock Up 0.1 %

Shares of TPG stock opened at $58.68 on Wednesday. The stock has a 50 day moving average of $50.09 and a 200 day moving average of $45.53. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. The stock has a market cap of $21.40 billion, a P/E ratio of -419.14, a P/E/G 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.

TPG (NASDAQ:TPG) last announced its quarterly 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. The company had revenue of $744.19 million during the quarter, compared to analysts’ expectations of $449.34 million. TPG had a return on equity of 24.27% and a net margin of 1.08%. During the same period last year, the business earned $0.26 earnings per share. As a group, sell-side analysts expect that TPG Inc. will post 2.01 EPS for the current year.

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.42 dividend. This is a positive change from TPG’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend was Friday, August 16th. TPG’s dividend payout ratio (DPR) is presently -1,200.00%.

Insider Buying and Selling at TPG

In other TPG news, Director Deborah M. Messemer sold 4,089 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $46.55, for a total value of $190,342.95. Following 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 filing with the SEC, which can be accessed through the SEC website. 76.48% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on TPG. Wells Fargo & Company began coverage on TPG in a research note on Thursday, September 12th. They issued an “overweight” rating and a $60.00 price target for the company. 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. The Goldman Sachs Group increased their price target on TPG from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. raised their price objective on 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.25.

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.