Westpac Banking Corp Has $163,000 Position in TPG Inc. (NASDAQ:TPG)

Westpac Banking Corp trimmed its position in shares of TPG Inc. (NASDAQ:TPG) by 18.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,594 shares of the company’s stock after selling 570 shares during the period. Westpac Banking Corp’s holdings in TPG were worth $163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in TPG during the 4th quarter worth approximately $100,675,000. JPMorgan Chase & Co. lifted its holdings in shares of TPG by 2,515.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company’s stock worth $104,296,000 after purchasing an additional 1,596,254 shares during the period. Lord Abbett & CO. LLC increased its holdings in TPG by 146.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company’s stock valued at $96,166,000 after purchasing an additional 992,818 shares during the period. Barclays PLC raised its position in TPG by 14,739.3% during the 3rd quarter. Barclays PLC now owns 602,029 shares of the company’s stock worth $34,652,000 after purchasing an additional 597,972 shares during the last quarter. Finally, Burkehill Global Management LP acquired a new position in TPG during the 4th quarter worth about $31,420,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

Analysts Set New Price Targets

TPG has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price target on TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Bank of America lowered their price target on shares of TPG from $72.00 to $68.00 and set a “buy” rating for the company in a report on Friday. Evercore ISI upped their price objective on shares of TPG from $65.00 to $66.00 and gave the company an “in-line” rating in a research note on Wednesday, February 12th. Wells Fargo & Company decreased their price objective on shares of TPG from $78.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. Finally, BMO Capital Markets boosted their target price on shares of TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, TPG currently has a consensus rating of “Hold” and an average target price of $62.42.

TPG Price Performance

TPG stock opened at $40.99 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.18 and a quick ratio of 0.25. The company’s 50-day moving average is $54.99 and its 200-day moving average is $61.48. The stock has a market capitalization of $15.14 billion, a PE ratio of -93.16, a price-to-earnings-growth ratio of 0.80 and a beta of 1.54. TPG Inc. has a 1 year low of $37.52 and a 1 year high of $72.98.

TPG (NASDAQ:TPG) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. Equities research analysts expect that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a $0.53 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.12 annualized dividend and a yield of 5.17%. This is an increase from TPG’s previous quarterly dividend of $0.38. TPG’s dividend payout ratio (DPR) is presently -481.82%.

Insider Buying and Selling at TPG

In other news, General Counsel Bradford Berenson sold 2,509 shares of TPG stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total transaction of $125,550.36. Following the completion of the transaction, the general counsel now directly owns 290,841 shares in the company, valued at $14,553,683.64. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Deborah M. Messemer sold 1,695 shares of the business’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $61.91, for a total transaction of $104,937.45. Following the sale, the director now directly owns 15,841 shares of the company’s stock, valued at approximately $980,716.31. The trade was a 9.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 76.48% of the stock is currently owned by company insiders.

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.