Mirae Asset Global Investments Co. Ltd. Invests $507,000 in TPG Inc. (NASDAQ:TPG)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in TPG Inc. (NASDAQ:TPG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,750 shares of the company’s stock, valued at approximately $507,000.

Several other hedge funds have also added to or reduced their stakes in the business. Simplicity Solutions LLC raised its position in TPG by 9.7% during the 3rd quarter. Simplicity Solutions LLC now owns 58,581 shares of the company’s stock worth $1,764,000 after purchasing an additional 5,181 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of TPG by 7.9% during the third quarter. Commonwealth Equity Services LLC now owns 8,151 shares of the company’s stock worth $246,000 after acquiring an additional 600 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of TPG by 2.3% during the third quarter. Bank of New York Mellon Corp now owns 403,048 shares of the company’s stock worth $12,140,000 after acquiring an additional 9,027 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of TPG by 27.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,126 shares of the company’s stock worth $365,000 after acquiring an additional 2,636 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new stake in TPG in the third quarter valued at approximately $30,000. 86.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TPG has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of TPG from $38.00 to $43.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 14th. TD Cowen initiated coverage on shares of TPG in a research report on Thursday, January 4th. They set a “market perform” rating and a $38.00 price target on the stock. TheStreet lowered TPG from a “c” rating to a “d” rating in a research report on Monday, March 18th. Morgan Stanley increased their price target on TPG from $31.00 to $40.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Finally, UBS Group upped their price objective on shares of TPG from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, April 12th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $39.96.

Insider Activity at TPG

In other TPG news, CAO Martin Davidson sold 39,317 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $41.64, for a total value of $1,637,159.88. Following the completion of the sale, the chief accounting officer now directly owns 30,991 shares of the company’s stock, valued at $1,290,465.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Martin Davidson sold 39,317 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $41.64, for a total transaction of $1,637,159.88. Following the sale, the chief accounting officer now directly owns 30,991 shares in the company, valued at approximately $1,290,465.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jon Winkelried sold 1,000,000 shares of TPG stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $41.64, for a total transaction of $41,640,000.00. Following the completion of the transaction, the chief executive officer now owns 3,326,460 shares of the company’s stock, valued at $138,513,794.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,434,129 shares of company stock worth $101,357,132. 78.72% of the stock is owned by company insiders.

TPG Stock Down 0.8 %

TPG stock opened at $43.43 on Friday. The firm has a market capitalization of $15.84 billion, a PE ratio of -1,085.48, a P/E/G ratio of 0.75 and a beta of 1.62. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.28. TPG Inc. has a twelve month low of $24.74 and a twelve month high of $47.20. The stock’s 50 day moving average is $44.26 and its 200-day moving average is $39.38.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.10. The firm had revenue of $529.90 million for the quarter, compared to the consensus estimate of $395.30 million. TPG had a net margin of 3.35% and a return on equity of 18.69%. The business’s revenue for the quarter was up 51.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. Sell-side analysts expect that TPG Inc. will post 2.09 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.76 dividend on an annualized basis and a yield of 4.05%. TPG’s dividend payout ratio (DPR) is presently -4,398.90%.

TPG Company 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.