Prana Capital Management LP Buys Shares of 98,413 TPG Inc. $TPG

Prana Capital Management LP purchased a new position in TPG Inc. (NASDAQ:TPG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 98,413 shares of the company’s stock, valued at approximately $5,654,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in TPG by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,386,633 shares of the company’s stock worth $711,612,000 after purchasing an additional 56,490 shares during the last quarter. Capital International Investors raised its position in shares of TPG by 3.5% in the third quarter. Capital International Investors now owns 11,682,464 shares of the company’s stock valued at $671,158,000 after buying an additional 392,336 shares during the last quarter. Darlington Partners Capital Management LP acquired a new stake in shares of TPG in the second quarter valued at about $258,581,000. Bank of America Corp DE lifted its stake in shares of TPG by 72.7% in the third quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock worth $204,960,000 after buying an additional 1,501,808 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in TPG by 30.8% during the second quarter. Geode Capital Management LLC now owns 3,529,402 shares of the company’s stock worth $185,136,000 after acquiring an additional 831,865 shares during the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.

TPG Trading Up 3.2%

Shares of TPG stock opened at $40.75 on Wednesday. The firm has a market capitalization of $15.65 billion, a price-to-earnings ratio of 92.62, a PEG ratio of 0.58 and a beta of 1.55. 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 0.42, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a 50 day moving average of $52.80 and a 200 day moving average of $57.34.

TPG (NASDAQ:TPG) last posted its earnings results on Thursday, February 5th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.20. TPG had a return on equity of 26.02% and a net margin of 3.95%.The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $548.40 million. During the same quarter in the previous year, the business earned $0.62 earnings per share. The company’s revenue for the quarter was up 35.6% on a year-over-year basis. As a group, research analysts predict that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 19th were issued a $0.61 dividend. This is an increase from TPG’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, February 19th. This represents a $2.44 annualized dividend and a yield of 6.0%. TPG’s payout ratio is presently 554.55%.

Wall Street Analyst Weigh In

A number of analysts have commented on TPG shares. UBS Group cut their price objective on shares of TPG from $83.00 to $60.00 and set a “buy” rating for the company in a report on Friday, February 20th. Barclays cut their price target on TPG from $69.00 to $56.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Citizens Jmp raised TPG from a “market perform” rating to an “outperform” rating and set a $75.00 price objective on the stock in a research note on Monday, February 9th. Citigroup raised TPG to an “outperform” rating in a research note on Monday, February 9th. Finally, Evercore set a $56.00 price target on shares of TPG in a research report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.80.

TPG Company Profile

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.