Zurcher Kantonalbank Zurich Cantonalbank Buys 588 Shares of TPG Inc. (NASDAQ:TPG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of TPG Inc. (NASDAQ:TPG) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,714 shares of the company’s stock after buying an additional 588 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TPG were worth $549,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its stake in TPG by 7.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 8,151 shares of the company’s stock valued at $246,000 after purchasing an additional 600 shares in the last quarter. Bank of New York Mellon Corp increased 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 valued at $12,140,000 after acquiring an additional 9,027 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in TPG in the 3rd quarter worth approximately $30,000. Victory Capital Management Inc. bought a new position in TPG in the 3rd quarter valued at approximately $7,424,000. Finally, Arizona State Retirement System boosted its stake in TPG by 2.8% during the 3rd quarter. Arizona State Retirement System now owns 15,429 shares of the company’s stock valued at $465,000 after purchasing an additional 423 shares during the last quarter. Hedge funds and other institutional investors own 86.79% of the company’s stock.

Insider Activity at TPG

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. BMO Capital Markets restated a “market perform” rating and issued a $42.00 price target (up previously from $36.00) on shares of TPG in a research note on Wednesday, February 14th. Citigroup lifted their price target on shares of TPG from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. Morgan Stanley increased their price objective on shares of TPG from $31.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Keefe, Bruyette & Woods lifted their target price on shares of TPG from $42.00 to $48.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 14th. Finally, Wells Fargo & Company increased their price target on TPG from $38.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, February 14th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, TPG currently has a consensus rating of “Hold” and a consensus price target of $39.96.

TPG Stock Performance

NASDAQ:TPG opened at $43.81 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.16 and a current ratio of 0.16. The stock has a 50-day simple moving average of $44.29 and a two-hundred day simple moving average of $39.81. The firm has a market capitalization of $15.98 billion, a PE ratio of -1,094.98, a P/E/G ratio of 0.75 and a beta of 1.62. TPG Inc. has a 52-week low of $24.74 and a 52-week high of $47.20.

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

TPG Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a dividend of $0.44 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.76 annualized dividend and a dividend yield of 4.02%. TPG’s payout ratio is -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.