State Street Corp Purchases 67,597 Shares of TPG Inc. (NASDAQ:TPG)

State Street Corp boosted its holdings in shares of TPG Inc. (NASDAQ:TPG) by 5.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,421,981 shares of the company’s stock after purchasing an additional 67,597 shares during the period. State Street Corp owned about 0.39% of TPG worth $81,849,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Quarry LP boosted 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 purchasing an additional 1,846 shares in the last quarter. Iron Gate Global Advisors LLC bought a new position in TPG in the 3rd quarter valued at approximately $201,000. Cinctive Capital Management LP boosted its position in TPG by 65.9% in the third quarter. Cinctive Capital Management LP now owns 50,435 shares of the company’s stock valued at $2,903,000 after buying an additional 20,026 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of TPG during the third quarter worth $342,000. Finally, Point72 Europe London LLP increased its holdings in shares of TPG by 16.8% during the third quarter. Point72 Europe London LLP now owns 274,935 shares of the company’s stock worth $15,825,000 after buying an additional 39,550 shares in the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

TPG Price Performance

Shares of NASDAQ TPG opened at $67.13 on Tuesday. TPG Inc. has a fifty-two week low of $38.20 and a fifty-two week high of $72.98. The stock has a fifty day moving average of $66.72 and a 200-day moving average of $54.50. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market cap of $24.50 billion, a PE ratio of -197.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.46.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS 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 firm had revenue of $855.40 million during the quarter, compared to analyst estimates of $449.98 million. During the same period in the previous year, the business earned $0.56 EPS. Equities research analysts anticipate that TPG Inc. will post 1.95 earnings per share for the current year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.26%. TPG’s payout ratio is -447.05%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TPG. Evercore ISI upped their price objective on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Wells Fargo & Company upped their price objective 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. The Goldman Sachs Group raised their target price on TPG from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Morgan Stanley lifted their price target on shares of TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, TD Cowen lowered their target price on TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.08.

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.