Iron Gate Global Advisors LLC Takes Position in TPG Inc. (NASDAQ:TPG)

Iron Gate Global Advisors LLC bought a new stake in TPG Inc. (NASDAQ:TPG) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 3,500 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TPG. Cinctive Capital Management LP raised its stake in TPG by 65.9% during the 3rd quarter. Cinctive Capital Management LP now owns 50,435 shares of the company’s stock worth $2,903,000 after acquiring an additional 20,026 shares in the last quarter. Edgestream Partners L.P. bought a new position in TPG during the third quarter worth $342,000. Point72 Europe London LLP lifted its position in shares of TPG by 16.8% during the 3rd 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in TPG by 2.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 322,991 shares of the company’s stock worth $18,591,000 after purchasing an additional 8,615 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in TPG by 5.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,705 shares of the company’s stock worth $1,019,000 after acquiring an additional 965 shares during the last quarter. Hedge funds and other institutional investors own 86.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TPG. Deutsche Bank Aktiengesellschaft lifted their price target on TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on shares of TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. TD Cowen lowered their price objective on TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a report on Wednesday, November 6th. Wells Fargo & Company raised their target price on TPG from $67.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley lifted their price objective 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. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, TPG currently has an average rating of “Hold” and a consensus target price of $58.83.

TPG Stock Down 1.5 %

Shares of TPG stock opened at $68.93 on Tuesday. The stock’s fifty day moving average price is $64.73 and its 200 day moving average price is $52.70. The company has a market cap of $25.16 billion, a price-to-earnings ratio of -202.73, a price-to-earnings-growth ratio of 1.16 and a beta of 1.46. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.25 and a quick ratio of 0.25. TPG Inc. has a 1-year low of $35.17 and a 1-year high of $72.98.

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. TPG had a return on equity of 23.45% and a net margin of 0.69%. The firm had revenue of $855.40 million for the quarter, compared to analyst estimates of $449.98 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. On average, research analysts expect that TPG Inc. will post 1.95 earnings per share for the current fiscal year.

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.21%. TPG’s payout ratio is -447.05%.

TPG 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.