Vanguard Personalized Indexing Management LLC has reduced its holdings in TPG Inc. by 6.7% during the second quarter, according to the firm’s latest 13F filing with the Securities and Exchange Commission. The firm now owns 6,258 shares of TPG, having sold 451 shares during this period. Vanguard’s stake in TPG was valued at approximately $328,000 at the end of the quarter.
Several institutional investors have made notable adjustments to their positions in TPG recently. Mirae Asset Global Investments Co. Ltd. increased its stake by 27.3% in the first quarter, now holding 29,250 shares valued at about $1.4 million. Other significant investments include Tokio Marine Asset Management Co. Ltd., which acquired a new stake valued at approximately $237,000, and Cresset Asset Management LLC, which also initiated a new position valued at about $216,000.
In a remarkable move, Sumitomo Mitsui Trust Group Inc. raised its holdings in TPG by 62.3%, now owning 7,590 shares worth $360,000. T. Rowe Price Investment Management Inc. also increased its stake by 28.0%, owning 2,201,727 shares valued at $104.4 million. Overall, institutional investors now control 94.03% of TPG’s stock.
Analyst Ratings and Market Performance
Recent ratings from equity analysts have been generally positive. Morgan Stanley raised its target price for TPG shares from $58.00 to $63.00 while maintaining an “equal weight” rating. Similarly, Wells Fargo & Company increased its target price from $58.00 to $62.00 with an “overweight” rating.
BNP Paribas Exane upgraded TPG from a “neutral” rating to “outperform,” setting a price target of $69.00. On the other hand, Weiss Ratings maintained a “hold (c-)” rating, while JPMorgan Chase & Co. improved TPG from “neutral” to “overweight,” lifting its target price from $65.00 to $78.00.
In total, two analysts have rated TPG’s stock as a Strong Buy, nine have assigned it a Buy rating, and seven have issued a Hold rating. According to MarketBeat, TPG currently holds an average rating of “Moderate Buy” with a consensus target price of $65.64.
TPG’s stock opened at $55.83 recently, with a market capitalization of $21.10 billion. The stock’s performance has shown significant volatility, with a one-year low of $37.52 and a high of $72.98. The company has a price-to-earnings ratio of -293.84 and a beta of 1.53.
Recent Earnings and Dividend Increase
TPG released its quarterly earnings data on August 6, reporting earnings per share (EPS) of $0.69, exceeding analysts’ expectations of $0.45 by $0.24. The company’s revenue for the quarter reached $495.12 million, surpassing the expected $470.57 million. TPG’s net margin stood at 1.60%, with a return on equity of 25.79%. Revenue was up 8.9% compared to the same quarter last year, when the company earned $0.49 EPS.
In a move that pleased investors, TPG announced an increase in its quarterly dividend, which was paid on September 2. Shareholders of record on August 18 received a dividend of $0.59 per share, a rise from the previous dividend of $0.41. This annualizes to $2.36 with a yield of 4.2%. Notably, TPG’s dividend payout ratio currently stands at -1,242.11%.
TPG Inc. operates as an alternative asset manager, providing investment management services across the United States and internationally. The company’s offerings include advisory, debt and equity arrangements, and capital structuring services for portfolio companies.
Investors interested in TPG and other hedge funds can access the latest 13F filings and insider trades through financial platforms like HoldingsChannel.com.
