Harvest Fund Management Co. Ltd Increases Stake in TPG Inc. (NASDAQ:TPG)

Harvest Fund Management Co. Ltd raised its stake in shares of TPG Inc. (NASDAQ:TPG) by 803.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,677 shares of the company’s stock after purchasing an additional 9,495 shares during the period. Harvest Fund Management Co. Ltd’s holdings in TPG were worth $615,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in TPG by 21.6% during the 1st quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock worth $328,826,000 after purchasing an additional 1,305,799 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in TPG by 5.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock worth $278,161,000 after acquiring an additional 366,306 shares during the period. Millennium Management LLC grew its stake in TPG by 32.4% during the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock worth $156,188,000 after buying an additional 922,571 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of TPG by 13.9% during the second quarter. American Century Companies Inc. now owns 1,240,450 shares of the company’s stock valued at $51,417,000 after buying an additional 151,317 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of TPG by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 770,998 shares of the company’s stock valued at $44,379,000 after purchasing an additional 31,638 shares in the last quarter. Hedge funds and other institutional investors own 86.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TPG. TD Cowen dropped their price target on shares of TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Wells Fargo & Company upped their price objective on shares of TPG from $67.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. The Goldman Sachs Group lifted their target price on shares of TPG from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of TPG from $67.00 to $69.00 and gave the company a “buy” rating in a report on Monday, November 11th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, TPG presently has an average rating of “Hold” and an average target price of $58.83.

TPG Trading Down 0.1 %

Shares of TPG stock opened at $71.19 on Wednesday. The stock’s fifty day simple moving average is $63.58 and its 200 day simple moving average is $51.75. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.39. TPG Inc. has a 12 month low of $34.07 and a 12 month high of $72.98.

TPG (NASDAQ:TPG) last released its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $855.40 million for the quarter, compared to analysts’ expectations of $449.98 million. TPG had a return on equity of 23.45% and a net margin of 0.69%. During the same quarter in the previous year, the business posted $0.56 EPS. As a group, equities research analysts expect that TPG Inc. will post 1.95 earnings per share for the current fiscal year.

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.14%. TPG’s payout ratio is -447.05%.

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.