Norges Bank Makes New Investment in TPG Inc. (NASDAQ:TPG)

Norges Bank acquired a new stake in TPG Inc. (NASDAQ:TPG) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,602,084 shares of the company’s stock, valued at approximately $100,675,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TPG. Shoker Investment Counsel Inc. increased its stake in TPG by 10.4% in the 4th quarter. Shoker Investment Counsel Inc. now owns 3,889 shares of the company’s stock worth $244,000 after purchasing an additional 366 shares during the period. Commonwealth Equity Services LLC increased its stake in shares of TPG by 6.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 8,021 shares of the company’s stock worth $504,000 after buying an additional 498 shares during the period. ORG Wealth Partners LLC bought a new stake in TPG during the 4th quarter valued at $33,000. Ritholtz Wealth Management raised its holdings in TPG by 21.6% during the 4th quarter. Ritholtz Wealth Management now owns 4,695 shares of the company’s stock valued at $295,000 after buying an additional 833 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in TPG by 5.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,705 shares of the company’s stock valued at $1,019,000 after buying an additional 965 shares during the period. Institutional investors own 94.03% of the company’s stock.

Analyst Upgrades and Downgrades

TPG has been the subject of several recent analyst reports. 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. BMO Capital Markets increased their price objective on TPG from $60.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company reduced their target price on TPG from $78.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Keefe, Bruyette & Woods raised their price target on TPG from $62.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Finally, JMP Securities reiterated a “market perform” rating on shares of TPG in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, TPG presently has a consensus rating of “Hold” and an average price target of $63.18.

Insider Buying and Selling

In other TPG 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 value of $125,550.36. Following the completion of the transaction, the general counsel now directly owns 290,841 shares of the company’s stock, valued at approximately $14,553,683.64. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deborah M. Messemer sold 1,695 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $61.91, for a total transaction of $104,937.45. Following the sale, the director now owns 15,841 shares in the company, valued at approximately $980,716.31. The trade was a 9.67 % decrease in their position. The disclosure for this sale can be found here. 76.48% of the stock is currently owned by company insiders.

TPG Stock Performance

Shares of TPG stock opened at $47.72 on Wednesday. TPG Inc. has a 12 month low of $39.18 and a 12 month high of $72.98. The firm has a market capitalization of $17.63 billion, a P/E ratio of -108.45, a P/E/G ratio of 0.80 and a beta of 1.54. The company has a current ratio of 0.18, a quick ratio of 0.25 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $56.48 and a two-hundred day simple moving average of $61.82.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. TPG had a net margin of 0.67% and a return on equity of 24.66%. On average, equities analysts forecast that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a $0.53 dividend. This is a boost from TPG’s previous quarterly dividend of $0.38. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Friday, February 21st. TPG’s payout ratio is currently -481.82%.

TPG Company 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.