Lecap Asset Management Ltd. Invests $1.34 Million in TPG Inc. $TPG

Lecap Asset Management Ltd. bought a new stake in shares of TPG Inc. (NASDAQ:TPG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 23,375 shares of the company’s stock, valued at approximately $1,343,000.

Several other large investors also recently bought and sold shares of TPG. Comerica Bank raised its stake in TPG by 43.1% during the first quarter. Comerica Bank now owns 1,545 shares of the company’s stock valued at $73,000 after purchasing an additional 465 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of TPG by 86.3% in the 1st quarter. Royal Bank of Canada now owns 7,901 shares of the company’s stock worth $375,000 after buying an additional 3,659 shares during the last quarter. Petrus Trust Company LTA purchased a new stake in shares of TPG during the 1st quarter valued at about $205,000. Goldman Sachs Group Inc. lifted its holdings in shares of TPG by 4,109.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock valued at $27,083,000 after acquiring an additional 557,438 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of TPG by 156.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company’s stock valued at $22,941,000 after acquiring an additional 294,941 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

TPG Trading Down 5.3%

Shares of NASDAQ TPG opened at $65.96 on Thursday. TPG Inc. has a fifty-two week low of $37.52 and a fifty-two week high of $70.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $24.94 billion, a price-to-earnings ratio of 732.89, a PEG ratio of 1.03 and a beta of 1.51. The business’s 50 day moving average price is $60.87 and its 200-day moving average price is $59.02.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). TPG had a net margin of 2.83% and a return on equity of 25.79%. The business had revenue of $509.40 million for the quarter, compared to analysts’ expectations of $510.32 million. During the same quarter in the previous year, the firm earned $0.45 EPS. TPG’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts expect that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, November 14th. TPG’s dividend payout ratio (DPR) is currently 2,000.00%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets began coverage on TPG in a research note on Friday, October 3rd. They set an “outperform” rating and a $65.00 price objective on the stock. Zacks Research cut TPG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Bank of America boosted their target price on TPG from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. decreased their price target on TPG from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $80.00 price objective on shares of TPG in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TPG currently has an average rating of “Moderate Buy” and a consensus price target of $69.25.

About TPG

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.