Harvest Fund Management Co. Ltd Buys New Stake in TPG Inc. (NASDAQ:TPG)

Harvest Fund Management Co. Ltd purchased a new stake in TPG Inc. (NASDAQ:TPG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,182 shares of the company’s stock, valued at approximately $51,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of TPG by 3.3% during the third quarter. Vanguard Group Inc. now owns 5,729,509 shares of the company’s stock worth $172,573,000 after purchasing an additional 182,885 shares in the last quarter. TimesSquare Capital Management LLC lifted its holdings in TPG by 11.6% in the third quarter. TimesSquare Capital Management LLC now owns 2,211,111 shares of the company’s stock valued at $66,599,000 after buying an additional 229,481 shares during the period. Lord Abbett & CO. LLC lifted its holdings in TPG by 4.2% in the third quarter. Lord Abbett & CO. LLC now owns 813,182 shares of the company’s stock valued at $24,493,000 after buying an additional 32,573 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in TPG by 72.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 630,412 shares of the company’s stock valued at $18,988,000 after buying an additional 265,706 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in TPG by 35.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 582,317 shares of the company’s stock valued at $17,539,000 after buying an additional 151,993 shares during the period. 86.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TPG has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on shares of TPG from $38.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, February 14th. TheStreet lowered shares of TPG from a “c” rating to a “d” rating in a report on Monday, March 18th. UBS Group upped their target price on shares of TPG from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Morgan Stanley upped their target price on shares of TPG from $31.00 to $40.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods upped their target price on shares of TPG from $42.00 to $48.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, TPG presently has a consensus rating of “Hold” and a consensus target price of $39.96.

TPG Trading Up 1.0 %

Shares of TPG stock opened at $43.87 on Friday. The firm has a fifty day moving average of $44.27 and a 200-day moving average of $39.41. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.16 and a quick ratio of 0.16. TPG Inc. has a 12-month low of $24.74 and a 12-month high of $47.20.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.10. The company had revenue of $529.90 million during the quarter, compared to the consensus estimate of $395.30 million. TPG had a net margin of 3.35% and a return on equity of 18.69%. The firm’s revenue was up 51.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. On average, analysts predict that TPG Inc. will post 2.09 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Thursday, February 22nd. TPG’s dividend payout ratio (DPR) is currently -4,398.90%.

Insider Activity at TPG

In related news, 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 value of $1,637,159.88. Following the completion of the transaction, the chief accounting officer now owns 30,991 shares of the company’s stock, valued at $1,290,465.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other TPG news, CAO Martin Davidson sold 39,317 shares of the stock in a transaction on Thursday, February 29th. The shares were 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 $1,290,465.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Todd Benjamin Sisitsky sold 52,807 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $41.64, for a total transaction of $2,198,883.48. Following the completion of the sale, the president now owns 396,982 shares of the company’s stock, valued at approximately $16,530,330.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,434,129 shares of company stock valued at $101,357,132. Corporate insiders own 78.72% of the company’s stock.

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.