Highland Capital Management LLC Buys 1,246 Shares of TPG Inc. (NASDAQ:TPG)

Highland Capital Management LLC boosted its stake in shares of TPG Inc. (NASDAQ:TPG) by 0.8% during the fourth quarter, Holdings Channel reports. The fund owned 151,372 shares of the company’s stock after acquiring an additional 1,246 shares during the period. Highland Capital Management LLC’s holdings in TPG were worth $6,535,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TPG. JPMorgan Chase & Co. bought a new position in shares of TPG in the 1st quarter valued at about $763,000. Bank of New York Mellon Corp bought a new position in shares of TPG in the 1st quarter valued at about $474,000. Citigroup Inc. bought a new position in shares of TPG in the 1st quarter valued at about $33,000. PNC Financial Services Group Inc. bought a new position in shares of TPG in the 1st quarter valued at about $449,000. Finally, BlackRock Inc. bought a new position in shares of TPG in the 1st quarter valued at about $14,585,000. Institutional investors own 86.79% of the company’s stock.

Insiders Place Their Bets

In other TPG news, Director Kelvin L. Davis sold 822,017 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $41.64, for a total transaction of $34,228,787.88. Following the sale, the director now directly owns 844,584 shares of the company’s stock, valued at $35,168,477.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TPG news, Chairman James G. Coulter sold 16,949 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $41.64, for a total transaction of $705,756.36. Following the sale, the chairman now directly owns 386,936 shares of the company’s stock, valued at $16,112,015.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kelvin L. Davis sold 822,017 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $41.64, for a total transaction of $34,228,787.88. Following the sale, the director now directly owns 844,584 shares in the company, valued at $35,168,477.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,434,129 shares of company stock worth $101,357,132. Company insiders own 78.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of TPG from $46.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 15th. TD Cowen began coverage on shares of TPG in a research note on Thursday, January 4th. They set a “market perform” rating and a $38.00 price objective on the stock. TheStreet lowered shares of TPG from a “c” rating to a “d” rating in a research note on Monday, March 18th. BMO Capital Markets reissued a “market perform” rating and set a $42.00 price objective (up previously from $36.00) on shares of TPG in a research note on Wednesday, February 14th. Finally, Wells Fargo & Company lifted their price objective on shares of TPG from $38.00 to $43.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 14th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, TPG presently has a consensus rating of “Hold” and a consensus price target of $39.04.

TPG Price Performance

Shares of TPG stock opened at $44.98 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.16 and a current ratio of 0.16. The company’s 50 day moving average price is $43.53 and its two-hundred day moving average price is $37.47. TPG Inc. has a 52 week low of $24.74 and a 52 week high of $47.20.

TPG (NASDAQ:TPG) last announced its earnings results on Tuesday, February 13th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.41 by $0.10. The firm had revenue of $529.90 million for the quarter, compared to the consensus estimate of $395.30 million. TPG had a net margin of 3.35% and a return on equity of 18.69%. The business’s quarterly revenue was up 51.3% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS. Equities research analysts forecast that TPG Inc. will post 2.13 earnings per share for the current year.

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $1.76 annualized dividend and a yield of 3.91%. TPG’s dividend payout ratio (DPR) is currently -4,398.90%.

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.