Kornitzer Capital Management Inc. KS Invests $7.42 Million in TPG Inc. (NASDAQ:TPG)

Kornitzer Capital Management Inc. KS purchased a new position in TPG Inc. (NASDAQ:TPG) in the fourth quarter, Holdings Channel reports. The fund purchased 118,125 shares of the company’s stock, valued at approximately $7,423,000.

Other hedge funds have also made changes to their positions in the company. ORG Wealth Partners LLC purchased a new stake in shares of TPG in the fourth quarter worth approximately $33,000. Signaturefd LLC lifted its position in shares of TPG by 21.3% in the third quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock worth $62,000 after purchasing an additional 188 shares in the last quarter. R Squared Ltd bought a new position in TPG during the fourth quarter valued at approximately $97,000. Covestor Ltd raised its position in TPG by 1,128.3% during the third quarter. Covestor Ltd now owns 1,867 shares of the company’s stock valued at $107,000 after acquiring an additional 1,715 shares in the last quarter. Finally, KBC Group NV raised its position in TPG by 25.1% during the third quarter. KBC Group NV now owns 2,405 shares of the company’s stock valued at $138,000 after acquiring an additional 482 shares in the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at TPG

In other news, Director Deborah M. Messemer sold 1,695 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $61.91, for a total value of $104,937.45. Following the sale, the director now owns 15,841 shares in the company, valued at approximately $980,716.31. This trade represents a 9.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 76.48% of the stock is currently owned by corporate insiders.

TPG Stock Performance

Shares of TPG stock opened at $60.22 on Wednesday. TPG Inc. has a 12 month low of $39.18 and a 12 month high of $72.98. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $64.76 and its two-hundred day moving average is $61.29.

TPG (NASDAQ:TPG) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.10. TPG had a net margin of 0.67% and a return on equity of 25.14%. Sell-side analysts predict that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 21st will be paid a $0.53 dividend. This is an increase from TPG’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.12 annualized dividend and a dividend yield of 3.52%. TPG’s dividend payout ratio (DPR) is presently -345.45%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TPG shares. The Goldman Sachs Group raised their price objective on shares of TPG from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. JMP Securities reaffirmed a “market perform” rating on shares of TPG in a research report on Thursday, February 13th. BMO Capital Markets raised their price objective on shares of TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods raised their price objective on shares of TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, TD Cowen cut their price objective on shares of TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, TPG currently has a consensus rating of “Hold” and an average price target of $64.27.

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.