Renaissance Capital LLC Buys 15,131 Shares of TPG Inc. (NASDAQ:TPG)

Renaissance Capital LLC grew its stake in shares of TPG Inc. (NASDAQ:TPG) by 20.0% in the third quarter, Holdings Channel reports. The fund owned 90,618 shares of the company’s stock after acquiring an additional 15,131 shares during the quarter. TPG accounts for about 3.4% of Renaissance Capital LLC’s portfolio, making the stock its 11th largest position. Renaissance Capital LLC’s holdings in TPG were worth $5,216,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in TPG in the second quarter valued at approximately $25,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of TPG in the first quarter worth about $112,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of TPG in the first quarter valued at approximately $151,000. MQS Management LLC bought a new position in TPG in the 1st quarter worth approximately $201,000. Finally, Virtu Financial LLC purchased a new position in TPG in the 4th quarter valued at approximately $203,000. 86.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TPG has been the topic of a number of recent research reports. Evercore ISI increased their price objective on TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a report on Monday. Wells Fargo & Company raised their price objective on shares of TPG from $60.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group increased their target price on shares of TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley increased their price objective on TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $52.25.

TPG Stock Up 0.9 %

TPG opened at $60.98 on Wednesday. The stock has a market capitalization of $22.24 billion, a price-to-earnings ratio of -435.57, a PEG ratio of 0.97 and a beta of 1.53. The firm has a 50 day moving average price of $53.53 and a 200-day moving average price of $47.05. TPG Inc. has a twelve month low of $26.62 and a twelve month high of $61.85. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. TPG had a return on equity of 24.27% and a net margin of 1.08%. The firm had revenue of $744.19 million for the quarter, compared to analysts’ expectations of $449.34 million. During the same period in the prior year, the firm earned $0.26 EPS. Equities research analysts forecast that TPG Inc. will post 1.99 earnings per share for the current year.

TPG Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.42 per share. This is a boost from TPG’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Friday, August 16th. TPG’s dividend payout ratio is currently -1,200.00%.

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.