TimesSquare Capital Management LLC Cuts Holdings in TPG Inc. (NASDAQ:TPG)

TimesSquare Capital Management LLC reduced its position in TPG Inc. (NASDAQ:TPG) by 8.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,866,817 shares of the company’s stock after selling 162,694 shares during the quarter. TPG comprises about 1.2% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. TimesSquare Capital Management LLC owned 0.51% of TPG worth $83,447,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. YHB Investment Advisors Inc. purchased a new position in shares of TPG in the 1st quarter worth $32,000. Signaturefd LLC raised its position in TPG by 327.6% in the fourth quarter. Signaturefd LLC now owns 945 shares of the company’s stock valued at $41,000 after purchasing an additional 724 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in TPG in the fourth quarter valued at about $51,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in TPG in the first quarter valued at about $151,000. Finally, SG Americas Securities LLC purchased a new position in TPG in the fourth quarter valued at about $164,000. 86.79% of the stock is owned by hedge funds and other institutional investors.

TPG Stock Performance

Shares of TPG traded up $1.50 during mid-day trading on Friday, reaching $43.95. 920,171 shares of the company’s stock traded hands, compared to its average volume of 699,169. The business’s 50-day moving average price is $41.96 and its 200-day moving average price is $42.72. The stock has a market capitalization of $16.03 billion, a P/E ratio of -313.91, a price-to-earnings-growth ratio of 0.73 and a beta of 1.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25. TPG Inc. has a 12 month low of $26.03 and a 12 month high of $47.20.

TPG (NASDAQ:TPG) last announced its earnings results on Wednesday, May 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. TPG had a return on equity of 21.16% and a net margin of 2.74%. The firm had revenue of $512.30 million for the quarter, compared to analysts’ expectations of $452.87 million. During the same quarter in the previous year, the company earned $0.24 earnings per share. The firm’s quarterly revenue was up 64.5% compared to the same quarter last year. Equities analysts predict that TPG Inc. will post 2 earnings per share for the current year.

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were given a $0.41 dividend. The ex-dividend date was Friday, May 17th. This represents a $1.64 annualized dividend and a yield of 3.73%. TPG’s dividend payout ratio (DPR) is -1,171.34%.

Analysts Set New Price Targets

Several research firms have commented on TPG. TheStreet lowered TPG from a “c” rating to a “d” rating in a research report on Monday, March 18th. UBS Group raised their target price on TPG from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, April 12th. The Goldman Sachs Group restated a “buy” rating on shares of TPG in a research note on Monday, April 1st. TD Cowen lowered their target price on TPG from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, July 8th. Finally, Morgan Stanley upgraded TPG from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $43.00 to $52.00 in a research note on Friday, May 10th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $42.83.

About TPG

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.