Cerity Partners LLC Acquires Shares of 60,237 TPG Inc. (NASDAQ:TPG)

Cerity Partners LLC acquired a new position in shares of TPG Inc. (NASDAQ:TPG) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 60,237 shares of the company’s stock, valued at approximately $3,785,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of TPG by 5.0% in the 3rd quarter. State Street Corp now owns 1,421,981 shares of the company’s stock valued at $81,849,000 after buying an additional 67,597 shares during the period. Barclays PLC lifted its holdings in TPG by 14,739.3% in the third quarter. Barclays PLC now owns 602,029 shares of the company’s stock valued at $34,652,000 after acquiring an additional 597,972 shares during the period. Geode Capital Management LLC boosted its position in shares of TPG by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock worth $83,023,000 after purchasing an additional 102,663 shares in the last quarter. Franklin Resources Inc. grew its stake 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 worth $161,921,000 after purchasing an additional 244,373 shares during the period. Finally, Lord Abbett & CO. LLC grew its stake in shares of TPG by 146.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company’s stock worth $96,166,000 after purchasing an additional 992,818 shares during the period. Institutional investors and hedge funds own 94.03% of the company’s stock.

TPG Stock Performance

Shares of NASDAQ TPG opened at $44.59 on Monday. The company has a 50-day simple moving average of $51.73 and a 200-day simple moving average of $60.75. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.18 and a quick ratio of 0.25. The company has a market cap of $16.47 billion, a PE ratio of -101.34, a price-to-earnings-growth ratio of 0.80 and a beta of 1.58. TPG Inc. has a 12 month low of $37.52 and a 12 month high of $72.98.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. On average, equities analysts anticipate that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 4.75%. This is a positive change from TPG’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 21st. TPG’s dividend payout ratio (DPR) is presently -481.82%.

Insider Buying and Selling at TPG

In related news, General Counsel Bradford Berenson sold 2,509 shares of TPG stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total value of $125,550.36. Following the transaction, the general counsel now owns 290,841 shares in the company, valued at approximately $14,553,683.64. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Deborah M. Messemer sold 1,695 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was 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 of the company’s stock, valued at $980,716.31. This represents a 9.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 76.48% of the stock is owned by company insiders.

Analysts Set New Price Targets

TPG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on shares of TPG from $62.00 to $70.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. BMO Capital Markets upped their price target on TPG from $60.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. The Goldman Sachs Group reduced their price objective on TPG from $70.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, April 3rd. Citigroup lowered their target price on TPG from $72.00 to $56.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Bank of America cut their price target on TPG from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.42.

About TPG

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.