Norges Bank Acquires Shares of 1,602,084 TPG Inc. (NASDAQ:TPG)

Norges Bank bought a new position in TPG Inc. (NASDAQ:TPG) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,602,084 shares of the company’s stock, valued at approximately $100,675,000. Norges Bank owned about 0.44% of TPG as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in TPG by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 8,266,047 shares of the company’s stock worth $519,438,000 after acquiring an additional 162,107 shares during the period. Franklin Resources Inc. raised its holdings in shares of TPG by 10.1% in the 3rd quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company’s stock worth $161,921,000 after purchasing an additional 244,373 shares during the period. Lord Abbett & CO. LLC lifted its stake 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 last quarter. JPMorgan Chase & Co. grew its holdings in TPG by 2,515.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company’s stock valued at $104,296,000 after purchasing an additional 1,596,254 shares during the period. Finally, Geode Capital Management LLC increased its position in TPG by 7.7% in the third quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock worth $83,023,000 after buying an additional 102,663 shares during the last quarter. 94.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, General Counsel Bradford Berenson sold 2,509 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total value of $125,550.36. Following the transaction, the general counsel now owns 290,841 shares of the company’s stock, valued at $14,553,683.64. This represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Deborah M. Messemer sold 1,695 shares of the firm’s stock in a transaction 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. This trade represents a 9.67 % decrease in their position. The disclosure for this sale can be found here. 76.48% of the stock is owned by company insiders.

TPG Stock Up 0.6 %

TPG opened at $47.72 on Wednesday. The firm has a market capitalization of $17.63 billion, a P/E ratio of -108.45, a price-to-earnings-growth ratio of 0.80 and a beta of 1.54. TPG Inc. has a one year low of $39.18 and a one year high of $72.98. The company has a fifty day moving average price of $56.48 and a 200-day moving average price of $61.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.18 and a quick ratio of 0.25.

TPG (NASDAQ:TPG) last posted its earnings results on Tuesday, February 11th. The company reported $0.62 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 earnings per share for the current fiscal year.

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were issued a dividend of $0.53 per share. This is a positive change from TPG’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.12 annualized dividend and a dividend yield of 4.44%. TPG’s payout ratio is presently -481.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TPG shares. BMO Capital Markets upped their price target on TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. 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 report on Wednesday, February 12th. JMP Securities reiterated a “market perform” rating on shares of TPG in a research note on Thursday, February 13th. Keefe, Bruyette & Woods upped their price target on shares of TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, Wells Fargo & Company reduced their price objective on shares of TPG from $78.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $63.18.

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.