Westpac Banking Corp Purchases 1,436 Shares of TPG Inc. $TPG

Westpac Banking Corp lifted its position in shares of TPG Inc. (NASDAQ:TPG) by 56.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,988 shares of the company’s stock after purchasing an additional 1,436 shares during the quarter. Westpac Banking Corp’s holdings in TPG were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in TPG in the second quarter worth $37,000. GAMMA Investing LLC raised its stake in shares of TPG by 55.7% in the 2nd quarter. GAMMA Investing LLC now owns 945 shares of the company’s stock valued at $50,000 after buying an additional 338 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of TPG by 43.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,380 shares of the company’s stock worth $72,000 after acquiring an additional 420 shares during the period. Signaturefd LLC boosted its position in shares of TPG by 27.0% during the 1st quarter. Signaturefd LLC now owns 1,443 shares of the company’s stock valued at $68,000 after acquiring an additional 307 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of TPG by 43.1% during the 1st quarter. Comerica Bank now owns 1,545 shares of the company’s stock valued at $73,000 after acquiring an additional 465 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors.

TPG Stock Down 4.6%

Shares of TPG opened at $55.20 on Tuesday. The company has a market capitalization of $20.87 billion, a P/E ratio of 613.33, a PEG ratio of 1.06 and a beta of 1.52. TPG Inc. has a one year low of $37.52 and a one year high of $72.98. The business’s 50 day simple moving average is $57.88 and its 200-day simple moving average is $55.60. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The business had revenue of $509.40 million during the quarter, compared to the consensus estimate of $510.32 million. TPG had a net margin of 2.83% and a return on equity of 25.79%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.45 EPS. As a group, sell-side analysts predict that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, November 14th. TPG’s payout ratio is currently 2,000.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. BMO Capital Markets started coverage on shares of TPG in a research report on Friday, October 3rd. They issued an “outperform” rating and a $65.00 price target for the company. The Goldman Sachs Group increased their target price on TPG from $61.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. BNP Paribas raised TPG to a “strong-buy” rating in a research note on Wednesday, July 30th. Zacks Research cut TPG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th. Finally, Evercore ISI lifted their price objective on TPG from $52.00 to $60.00 and gave the company an “in-line” rating in a report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.62.

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.