Engineers Gate Manager LP Grows Position in TPG Inc. $TPG

Engineers Gate Manager LP lifted its position in TPG Inc. (NASDAQ:TPG) by 147.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 342,327 shares of the company’s stock after purchasing an additional 203,956 shares during the period. Engineers Gate Manager LP’s holdings in TPG were worth $13,881,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Comerica Bank boosted its position in TPG by 43.1% during the 1st quarter. Comerica Bank now owns 1,545 shares of the company’s stock valued at $73,000 after buying an additional 465 shares during the period. Royal Bank of Canada increased its position in shares of TPG by 86.3% in the first quarter. Royal Bank of Canada now owns 7,901 shares of the company’s stock valued at $375,000 after acquiring an additional 3,659 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of TPG by 4,109.1% during the first quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock valued at $27,083,000 after acquiring an additional 557,438 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of TPG by 156.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company’s stock worth $22,941,000 after purchasing an additional 294,941 shares during the period. Finally, Cetera Investment Advisers purchased a new position in shares of TPG during the second quarter valued at approximately $216,000. 94.03% of the stock is owned by hedge funds and other institutional investors.

TPG Trading Down 4.0%

NASDAQ:TPG opened at $46.93 on Friday. TPG Inc. has a one year low of $36.95 and a one year high of $70.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.31 and a quick ratio of 0.31. The company’s 50-day simple moving average is $47.81 and its 200 day simple moving average is $43.95. The firm has a market capitalization of $18.04 billion, a P/E ratio of 71.11, a PEG ratio of 0.81 and a beta of 1.47.

TPG (NASDAQ:TPG) last announced its earnings results on Tuesday, August 4th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.10. TPG had a net margin of 4.67% and a return on equity of 28.10%. The business had revenue of $628.19 million during the quarter, compared to the consensus estimate of $596.79 million. During the same quarter last year, the firm earned $0.69 earnings per share. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. As a group, analysts forecast that TPG Inc. will post 2.88 EPS for the current fiscal year.

TPG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were paid a $0.59 dividend. The ex-dividend date was Friday, August 14th. This represents a $2.36 annualized dividend and a dividend yield of 5.0%. TPG’s dividend payout ratio is presently 357.58%.

TPG News Summary

Here are the key news stories impacting TPG this week:

• Positive Sentiment: TPG is reportedly exploring a sale of healthcare payments software company Lyric that could value the business at approximately $5 billion. A transaction could provide TPG with substantial proceeds and validate the value of its investment, although the discussions are preliminary and no deal is guaranteed. Reuters article on TPG exploring a Lyric sale
• Positive Sentiment: UnitedHealth is selling TPG an interest in part of its Florida Optum Health primary-care clinic network, including WellMed operations. The investment expands TPG’s healthcare platform and could create opportunities for operational growth, though financial terms and the size of the stake were not disclosed. Bloomberg article on UnitedHealth selling Florida Optum clinics interest to TPG
• Neutral Sentiment: TPG-backed Third Wave Insurance appointed Vredenburg as chief executive, a leadership change that may support the portfolio company’s next phase but has no immediate disclosed impact on TPG’s financial results. The Insurer article on Third Wave Insurance leadership
• Negative Sentiment: TPG executive Todd Sisitsky was named co-CEO of CVC, creating a senior leadership departure from TPG. Although the move may reflect the strength of TPG’s executive talent, investors could view the loss as a succession and retention concern. Wall Street Journal article on Todd Sisitsky joining CVC
• Neutral Sentiment: The reported short-interest data shows zero shares both currently and in the prior period, with a “NaN” percentage change and zero days to cover. This appears to be a data-quality issue rather than evidence of a meaningful change in bearish positioning.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TPG. Keefe, Bruyette & Woods upped their price objective on shares of TPG from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Royal Bank Of Canada lifted their target price on shares of TPG from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Barclays boosted their price target on shares of TPG from $58.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. UBS Group raised their price objective on shares of TPG from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. Finally, TD Cowen upgraded TPG from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Thursday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.33.

TPG Company Profile

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across private equity, growth equity, impact investing, real estate, and credit and market solutions. The company manages investment funds and strategies for institutional investors, family offices, sovereign wealth funds, and other clients.

Through its various investment platforms, TPG provides capital to companies at different stages of development and across multiple industries. Its activities include acquiring and supporting established businesses, investing in high-growth companies, financing real estate and credit opportunities, and pursuing investments intended to generate both financial and social or environmental impact.

TPG was founded in 1992 by David Bonderman and James Coulter.