SteelPeak Wealth LLC Takes Position in TPG Inc. (NASDAQ:TPG)

SteelPeak Wealth LLC acquired a new position in TPG Inc. (NASDAQ:TPG) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 10,000 shares of the company’s stock, valued at approximately $628,000.

Other institutional investors have also recently bought and sold shares of the company. Lord Abbett & CO. LLC increased its stake 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 acquiring an additional 992,818 shares during the last quarter. Barclays PLC increased its position in TPG by 14,739.3% in the 3rd quarter. Barclays PLC now owns 602,029 shares of the company’s stock worth $34,652,000 after purchasing an additional 597,972 shares during the last quarter. Franklin Resources Inc. lifted its holdings 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 valued at $161,921,000 after buying an additional 244,373 shares during the last quarter. Partners Group Holding AG grew its stake in shares of TPG by 112.2% in the 3rd quarter. Partners Group Holding AG now owns 332,627 shares of the company’s stock valued at $19,146,000 after buying an additional 175,847 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in TPG by 7.7% in the third quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock worth $83,023,000 after buying an additional 102,663 shares during the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Deborah M. Messemer sold 1,695 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $61.91, for a total value of $104,937.45. Following the completion of the transaction, the director now owns 15,841 shares of the company’s stock, valued at $980,716.31. This represents a 9.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 76.48% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TPG shares. Morgan Stanley lifted 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, November 11th. BMO Capital Markets raised their target price on TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. 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. Finally, Keefe, Bruyette & Woods raised their price objective on TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, TPG presently has a consensus rating of “Hold” and a consensus price target of $63.00.

TPG Price Performance

NASDAQ:TPG opened at $67.05 on Friday. The company has a fifty day moving average price of $66.69 and a 200 day moving average price of $59.85. TPG Inc. has a one year low of $39.18 and a one year high of $72.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.25 and a quick ratio of 0.25. The stock has a market cap of $24.47 billion, a P/E ratio of -197.20, a PEG ratio of 0.95 and a beta of 1.49.

TPG (NASDAQ:TPG) last released its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The business 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 period last year, the business earned $0.56 earnings per share. Analysts anticipate that TPG Inc. will post 1.95 earnings per share for the current year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were paid a $0.38 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.27%. 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.