538,800 Shares in TPG Inc. $TPG Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new position in shares of TPG Inc. (NASDAQ:TPG) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 538,800 shares of the company’s stock, valued at approximately $21,827,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jennison Associates LLC bought a new stake in shares of TPG during the 4th quarter worth $13,630,000. Private Wealth Partners LLC raised its holdings in TPG by 95.7% in the 4th quarter. Private Wealth Partners LLC now owns 222,900 shares of the company’s stock worth $14,230,000 after acquiring an additional 109,020 shares during the period. Vanguard Group Inc. raised its holdings in TPG by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 12,700,928 shares of the company’s stock worth $810,827,000 after acquiring an additional 314,295 shares during the period. Tudor Investment Corp ET AL acquired a new position in TPG during the 3rd quarter worth $3,221,000. Finally, Frank Rimerman Advisors LLC lifted its position in TPG by 173.8% during the 1st quarter. Frank Rimerman Advisors LLC now owns 42,533 shares of the company’s stock worth $1,723,000 after acquiring an additional 26,998 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TPG shares. Keefe, Bruyette & Woods raised TPG to a “moderate buy” rating in a research report on Monday, July 20th. Wall Street Zen raised TPG from a “sell” rating to a “hold” rating in a research report on Sunday. The Goldman Sachs Group restated a “buy” rating and set a $61.00 target price on shares of TPG in a research note on Tuesday, May 5th. BMO Capital Markets dropped their price target on TPG from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Finally, Evercore set a $47.00 price target on TPG in a report on Tuesday, April 21st. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.43.

TPG Stock Performance

TPG opened at $42.16 on Thursday. The stock has a market cap of $16.20 billion, a PE ratio of 191.65, a P/E/G ratio of 0.81 and a beta of 1.45. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.63. TPG Inc. has a 1 year low of $36.95 and a 1 year high of $70.38. The stock’s 50 day simple moving average is $42.05 and its 200-day simple moving average is $45.38.

TPG (NASDAQ:TPG) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The firm had revenue of $557.18 million for the quarter, compared to the consensus estimate of $608.07 million. TPG had a net margin of 3.81% and a return on equity of 28.13%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 earnings per share. Sell-side analysts forecast that TPG Inc. will post 2.83 EPS for the current year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Monday, May 11th. TPG’s payout ratio is 1,072.73%.

TPG Profile

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.