South Street Advisors LLC Has $20.67 Million Stake in TPG Inc. $TPG

South Street Advisors LLC trimmed its position in shares of TPG Inc. (NASDAQ:TPG) by 7.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 323,825 shares of the company’s stock after selling 27,523 shares during the period. TPG accounts for approximately 2.9% of South Street Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. South Street Advisors LLC’s holdings in TPG were worth $20,673,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management bought a new position in TPG in the 3rd quarter worth $24,334,000. Fortress Investment Group LLC bought a new position in TPG in the 3rd quarter worth $17,167,000. Private Wealth Partners LLC raised its holdings in TPG by 88.2% in the 3rd quarter. Private Wealth Partners LLC now owns 113,880 shares of the company’s stock worth $6,542,000 after acquiring an additional 53,375 shares during the period. Hudson Bay Capital Management LP bought a new position in TPG in the 3rd quarter worth $2,059,000. Finally, Franklin Resources Inc. raised its holdings in TPG by 18.9% in the 3rd quarter. Franklin Resources Inc. now owns 2,672,272 shares of the company’s stock worth $153,522,000 after acquiring an additional 425,223 shares during the period. 94.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TPG shares. Weiss Ratings lowered shares of TPG from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 20th. Barclays increased their price objective on TPG from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Citizens Jmp upgraded TPG from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research note on Monday, February 9th. TD Cowen dropped their price objective on TPG from $48.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Finally, Evercore set a $47.00 price objective on TPG in a research note on Tuesday, April 21st. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $61.75.

TPG Price Performance

Shares of TPG stock opened at $41.86 on Friday. TPG Inc. has a 1 year low of $36.95 and a 1 year high of $70.38. The firm’s 50 day moving average is $41.70 and its 200-day moving average is $51.55. The firm has a market capitalization of $16.09 billion, a price-to-earnings ratio of 190.28, a PEG ratio of 0.75 and a beta of 1.47. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.63.

TPG (NASDAQ:TPG) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.09. The business had revenue of $557.18 million for the quarter, compared to analysts’ expectations of $608.07 million. TPG had a return on equity of 28.13% and a net margin of 3.81%.The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 earnings per share. Sell-side analysts forecast that TPG Inc. will post 2.86 EPS for the current fiscal year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were issued a $0.59 dividend. The ex-dividend date was Monday, May 11th. This represents a $2.36 annualized dividend and a yield of 5.6%. TPG’s dividend payout ratio (DPR) is currently 1,072.73%.

About TPG

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.