Wedmont Private Capital Purchases Shares of 3,275 TPG Inc. (NASDAQ:TPG)

Wedmont Private Capital purchased a new stake in TPG Inc. (NASDAQ:TPG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,275 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds also recently modified their holdings of TPG. Lord Abbett & CO. LLC grew its position in TPG by 146.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company’s stock valued at $96,166,000 after purchasing an additional 992,818 shares in the last quarter. Millennium Management LLC boosted its stake in shares of TPG by 32.4% during the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock worth $156,188,000 after buying an additional 922,571 shares during the last quarter. Barclays PLC boosted its stake in shares of TPG by 14,739.3% during the 3rd quarter. Barclays PLC now owns 602,029 shares of the company’s stock worth $34,652,000 after buying an additional 597,972 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of TPG by 902.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 418,608 shares of the company’s stock valued at $17,352,000 after acquiring an additional 376,848 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of TPG by 10.1% in the third quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company’s stock valued at $161,921,000 after acquiring an additional 244,373 shares during the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.

TPG Stock Up 2.3 %

Shares of TPG opened at $67.03 on Friday. The firm has a market cap of $24.46 billion, a P/E ratio of -197.14, a price-to-earnings-growth ratio of 0.80 and a beta of 1.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25. TPG Inc. has a 52 week low of $38.50 and a 52 week high of $72.98. The firm’s 50-day simple moving average is $66.58 and its 200 day simple moving average is $58.20.

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

TPG Cuts Dividend

The company also recently disclosed 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. This represents a $1.52 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, November 14th. TPG’s payout ratio is -447.05%.

Analysts Set New Price Targets

TPG has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on TPG from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Morgan Stanley raised their target price 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. The Goldman Sachs Group upped their price target on shares of TPG from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. TD Cowen decreased their price objective on shares of TPG from $62.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their price objective on shares of TPG from $83.00 to $78.00 and set an “overweight” rating on the stock in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, TPG has a consensus rating of “Hold” and an average target price of $63.00.

Insider Transactions at TPG

In other TPG news, Director Deborah M. Messemer sold 1,695 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $61.91, for a total transaction of $104,937.45. Following the transaction, the director now owns 15,841 shares in the company, valued at $980,716.31. This represents a 9.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 76.48% of the company’s stock.

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.