JPMorgan Chase & Co. Acquires 17,709 Shares of TPG Inc. (NASDAQ:TPG)

JPMorgan Chase & Co. grew its holdings in shares of TPG Inc. (NASDAQ:TPG) by 38.7% during the third quarter, HoldingsChannel.com reports. The firm owned 63,449 shares of the company’s stock after acquiring an additional 17,709 shares during the quarter. JPMorgan Chase & Co.’s holdings in TPG were worth $3,652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Lord Abbett & CO. LLC increased its position in shares of TPG by 146.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company’s stock worth $96,166,000 after purchasing an additional 992,818 shares during the period. Franklin Resources Inc. boosted its position in shares of TPG by 10.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company’s stock worth $161,921,000 after acquiring an additional 244,373 shares in the last quarter. Geode Capital Management LLC increased its stake in TPG by 7.7% in the third quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock valued at $83,023,000 after acquiring an additional 102,663 shares during the last quarter. Barclays PLC raised its position in TPG by 14,739.3% during the third quarter. Barclays PLC now owns 602,029 shares of the company’s stock valued at $34,652,000 after purchasing an additional 597,972 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in TPG during the third quarter worth $461,000. 94.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on TPG shares. TD Cowen lowered their price target on TPG from $62.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of TPG from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Evercore ISI increased their price objective on shares of TPG from $60.00 to $65.00 and gave the company an “in-line” rating in a research note on Friday. Keefe, Bruyette & Woods boosted their target price on shares of TPG from $62.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, Morgan Stanley increased their price target on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.00.

TPG Trading Up 2.3 %

NASDAQ TPG opened at $67.03 on Friday. The firm has a market capitalization of $24.46 billion, a PE ratio of -197.14, a price-to-earnings-growth ratio of 0.80 and a beta of 1.49. The business’s 50-day moving average price is $66.58 and its two-hundred day moving average price is $58.32. 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 $38.50 and a 12 month high of $72.98.

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

TPG Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Thursday, November 14th. TPG’s dividend payout ratio (DPR) is presently -447.05%.

Insider Buying and Selling

In other TPG news, Director Deborah M. Messemer sold 1,695 shares of the company’s stock in a transaction 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 sale, the director now owns 15,841 shares of the company’s stock, valued at approximately $980,716.31. This represents a 9.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 76.48% of the stock is owned by insiders.

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.