Cornercap Investment Counsel Inc. Reduces Stake in TPG Inc. (NASDAQ:TPG)

Cornercap Investment Counsel Inc. lowered its stake in shares of TPG Inc. (NASDAQ:TPG) by 33.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,996 shares of the company’s stock after selling 8,510 shares during the period. Cornercap Investment Counsel Inc.’s holdings in TPG were worth $978,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of TPG in the second quarter worth about $25,000. Signaturefd LLC lifted its position in shares of 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 in the last quarter. Covestor Ltd boosted its holdings in shares of TPG by 1,128.3% in the third quarter. Covestor Ltd now owns 1,867 shares of the company’s stock worth $107,000 after acquiring an additional 1,715 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of TPG during the 1st quarter valued at $112,000. Finally, KBC Group NV raised its stake in shares of TPG by 25.1% during the 3rd quarter. KBC Group NV now owns 2,405 shares of the company’s stock valued at $138,000 after purchasing an additional 482 shares during the period. Institutional investors own 86.79% of the company’s stock.

TPG Trading Up 0.6 %

Shares of TPG stock opened at $65.90 on Friday. TPG Inc. has a 1 year low of $33.45 and a 1 year high of $70.67. The firm’s 50-day moving average is $61.36 and its 200 day moving average is $50.45. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.39.

TPG (NASDAQ:TPG) last released its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. TPG had a return on equity of 23.45% and a net margin of 0.69%. The business had revenue of $855.40 million for the quarter, compared to analysts’ expectations of $449.98 million. During the same period in the prior year, the firm posted $0.56 EPS. As a group, equities analysts anticipate that TPG Inc. will post 1.94 earnings per share for the current fiscal year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given a $0.38 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.31%. TPG’s payout ratio is currently -494.10%.

Analysts Set New Price Targets

TPG has been the subject of several research reports. BMO Capital Markets upped their target price on TPG from $45.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group raised their price objective on TPG from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Evercore ISI increased their target price on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Wells Fargo & Company lifted their price target on TPG from $67.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on TPG from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $57.67.

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.