South Street Advisors LLC Sells 22,872 Shares of TPG Inc. (NASDAQ:TPG)

South Street Advisors LLC cut its holdings in TPG Inc. (NASDAQ:TPG) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 404,415 shares of the company’s stock after selling 22,872 shares during the period. TPG comprises approximately 2.5% of South Street Advisors LLC’s portfolio, making the stock its 15th biggest holding. South Street Advisors LLC owned about 0.11% of TPG worth $16,763,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TPG. Simplicity Wealth LLC bought a new position in TPG during the first quarter valued at $1,713,000. Swiss National Bank grew its holdings in TPG by 45.2% during the first quarter. Swiss National Bank now owns 155,100 shares of the company’s stock valued at $6,933,000 after purchasing an additional 48,300 shares during the period. Point72 Europe London LLP bought a new position in TPG during the fourth quarter valued at $4,009,000. Capital International Investors grew its holdings in TPG by 9.6% during the first quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock valued at $172,581,000 after purchasing an additional 336,665 shares during the period. Finally, Capstone Investment Advisors LLC bought a new position in TPG during the first quarter valued at $5,016,000. 86.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. increased their target price on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen dropped their target price on TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.42.

TPG Trading Up 0.6 %

Shares of TPG stock opened at $50.18 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25. TPG Inc. has a 52-week low of $26.62 and a 52-week high of $51.62. The company has a market capitalization of $18.31 billion, a PE ratio of -358.40, a price-to-earnings-growth ratio of 0.83 and a beta of 1.52. The business’s fifty day moving average is $47.20 and its 200 day moving average is $44.67.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. TPG had a return on equity of 24.27% and a net margin of 1.08%. The company had revenue of $744.19 million for the quarter, compared to the consensus estimate of $449.34 million. During the same quarter last year, the business posted $0.26 earnings per share. On average, equities research analysts anticipate that TPG Inc. will post 2.01 EPS for the current fiscal year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from TPG’s previous quarterly dividend of $0.41. TPG’s dividend payout ratio is currently -1,199.91%.

Insider Activity at TPG

In related news, Director Deborah M. Messemer sold 4,089 shares of the stock in a transaction 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 transaction, the director now owns 17,536 shares of the company’s stock, valued at $816,300.80. The transaction 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.