TPG Inc. (NASDAQ:TPG) Sees Significant Decline in Short Interest

TPG Inc. (NASDAQ:TPG) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 4,090,000 shares, a decline of 26.0% from the November 15th total of 5,530,000 shares. Based on an average daily volume of 1,050,000 shares, the days-to-cover ratio is currently 3.9 days. Approximately 5.0% of the company’s shares are short sold.

Hedge Funds Weigh In On TPG

Several large investors have recently bought and sold shares of TPG. Lord Abbett & CO. LLC boosted its stake in shares of TPG by 146.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company’s stock worth $96,166,000 after buying an additional 992,818 shares during the last quarter. Millennium Management LLC lifted its holdings in TPG by 32.4% during the second quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock worth $156,188,000 after acquiring an additional 922,571 shares during the period. Barclays PLC boosted its position in TPG by 14,739.3% in the third quarter. Barclays PLC now owns 602,029 shares of the company’s stock worth $34,652,000 after purchasing an additional 597,972 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in TPG by 902.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 418,608 shares of the company’s stock valued at $17,352,000 after purchasing an additional 376,848 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of TPG by 5.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock valued at $278,161,000 after purchasing an additional 366,306 shares during the last quarter. 94.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TPG shares. Morgan Stanley increased their price target on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their target price on shares of TPG from $68.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI raised their price target on shares of TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. TD Cowen reduced their price objective on shares of TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group increased their price objective on shares of TPG from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, TPG presently has an average rating of “Hold” and an average price target of $60.08.

TPG Stock Down 2.2 %

TPG stock traded down $1.49 during mid-day trading on Friday, reaching $66.88. The stock had a trading volume of 1,298,301 shares, compared to its average volume of 901,301. The firm has a market capitalization of $24.41 billion, a PE ratio of -196.71, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. TPG has a fifty-two week low of $38.20 and a fifty-two week high of $72.98. The stock’s 50-day simple moving average is $66.58 and its 200-day simple moving average is $54.16. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25.

TPG (NASDAQ:TPG) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. TPG had a net margin of 0.69% and a return on equity of 23.45%. The business had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. During the same quarter last year, the firm posted $0.56 EPS. On average, sell-side analysts forecast that TPG will post 1.95 EPS for the current fiscal year.

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th were issued a $0.38 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.27%. TPG’s dividend payout ratio is presently -447.06%.

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.