Massachusetts Financial Services Co. MA Sells 432,602 Shares of TPG Inc. (NASDAQ:TPG)

Massachusetts Financial Services Co. MA cut its position in shares of TPG Inc. (NASDAQ:TPG) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,278,149 shares of the company’s stock after selling 432,602 shares during the period. Massachusetts Financial Services Co. MA owned about 1.72% of TPG worth $361,370,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in TPG. International Assets Investment Management LLC bought a new position in shares of TPG during the second quarter valued at approximately $25,000. Signaturefd LLC boosted its position in TPG by 21.3% during the 3rd quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock valued at $62,000 after acquiring an additional 188 shares in the last quarter. Covestor Ltd increased its holdings in shares of TPG by 1,128.3% in the 3rd quarter. Covestor Ltd now owns 1,867 shares of the company’s stock valued at $107,000 after acquiring an additional 1,715 shares during the period. KBC Group NV raised its position in shares of TPG by 25.1% in the 3rd quarter. KBC Group NV now owns 2,405 shares of the company’s stock worth $138,000 after acquiring an additional 482 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of TPG during the 1st quarter worth $112,000. 86.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPG has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on shares of TPG from $45.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Evercore ISI increased their target price on shares of TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. The Goldman Sachs Group raised their target price on shares of TPG from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday. TD Cowen reduced their price target on TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. boosted their target price on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $58.83.

TPG Stock Performance

Shares of TPG opened at $70.18 on Friday. The stock has a 50 day moving average price of $63.01 and a 200 day moving average price of $51.27. TPG Inc. has a 52-week low of $34.07 and a 52-week high of $70.67. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $25.61 billion, a price-to-earnings ratio of -206.41, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $855.40 million during 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 period in the prior year, the business earned $0.56 EPS. Research analysts predict that TPG Inc. will post 1.95 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.52 annualized dividend and a yield of 2.17%. TPG’s dividend payout ratio (DPR) is currently -447.05%.

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.