Point72 Asset Management L.P. Invests $15.82 Million in TPG Inc. (NASDAQ:TPG)

Point72 Asset Management L.P. acquired a new stake in shares of TPG Inc. (NASDAQ:TPG) during the fourth quarter, HoldingsChannel reports. The firm acquired 251,721 shares of the company’s stock, valued at approximately $15,818,000.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in TPG by 2,515.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company’s stock valued at $104,296,000 after buying an additional 1,596,254 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of TPG during the 4th quarter valued at about $615,000. Highland Capital Management LLC increased its stake in TPG by 21.2% in the fourth quarter. Highland Capital Management LLC now owns 51,267 shares of the company’s stock valued at $3,222,000 after acquiring an additional 8,967 shares during the period. Keystone Investors PTE Ltd. bought a new stake in TPG in the fourth quarter valued at about $12,705,000. Finally, Lighthouse Investment Partners LLC acquired a new position in TPG in the fourth quarter worth about $11,852,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other TPG news, General Counsel Bradford Berenson sold 2,509 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total transaction of $125,550.36. Following the transaction, the general counsel now directly owns 290,841 shares in the company, valued at approximately $14,553,683.64. This represents a 0.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 69.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TPG. JMP Securities reaffirmed a “market perform” rating on shares of TPG in a report on Thursday, February 13th. Morgan Stanley restated an “equal weight” rating and set a $47.00 target price (down previously from $80.00) on shares of TPG in a research report on Monday, April 14th. Bank of America lowered their price target on TPG from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. TD Cowen cut their price objective on TPG from $65.00 to $42.00 and set a “hold” rating for the company in a report on Wednesday, April 9th. Finally, Wells Fargo & Company boosted their target price on shares of TPG from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $60.08.

TPG Price Performance

Shares of TPG stock opened at $51.91 on Friday. TPG Inc. has a 52 week low of $37.52 and a 52 week high of $72.98. The stock has a market capitalization of $19.18 billion, a PE ratio of -117.98, a PEG ratio of 0.80 and a beta of 1.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.25 and a current ratio of 0.18. The stock’s fifty day moving average is $47.05 and its 200-day moving average is $58.03.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The company had revenue of $476.26 million for the quarter, compared to the consensus estimate of $459.75 million. TPG had a return on equity of 24.66% and a net margin of 0.67%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 EPS. Equities research analysts expect that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Monday, May 19th. TPG’s dividend payout ratio is currently -496.97%.

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.