Iron Gate Global Advisors LLC Invests $201,000 in TPG Inc. (NASDAQ:TPG)

Iron Gate Global Advisors LLC purchased a new stake in TPG Inc. (NASDAQ:TPG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,500 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of TPG during the 2nd quarter valued at about $25,000. Signaturefd LLC increased its position in TPG by 21.3% during the third quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock worth $62,000 after acquiring an additional 188 shares during the period. Covestor Ltd increased its holdings in TPG by 1,128.3% in the 3rd quarter. Covestor Ltd now owns 1,867 shares of the company’s stock valued at $107,000 after buying an additional 1,715 shares during the period. KBC Group NV raised its holdings in TPG by 25.1% in the 3rd quarter. KBC Group NV now owns 2,405 shares of the company’s stock valued at $138,000 after buying an additional 482 shares during the last quarter. Finally, Shoker Investment Counsel Inc. bought a new stake in shares of TPG in the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 86.79% of the company’s stock.

TPG Price Performance

Shares of TPG stock opened at $68.93 on Tuesday. The firm has a market capitalization of $25.16 billion, a P/E ratio of -202.73, a P/E/G ratio of 1.16 and a beta of 1.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25. TPG Inc. has a 52-week low of $35.17 and a 52-week high of $72.98. The stock has a 50 day moving average price of $64.73 and a 200 day moving average price of $52.70.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $855.40 million during the quarter, compared to analyst estimates of $449.98 million. TPG had a return on equity of 23.45% and a net margin of 0.69%. During the same period in the prior year, the business posted $0.56 earnings per share. As a group, sell-side analysts predict that TPG Inc. will post 1.95 earnings per share for the current year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.21%. TPG’s dividend payout ratio is presently -447.05%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TPG. The Goldman Sachs Group upped their price target on TPG from $67.00 to $77.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price objective on TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Morgan Stanley boosted their price objective on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen dropped their target price on TPG from $62.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Finally, BMO Capital Markets lifted their target price on TPG from $45.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.83.

TPG 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.