By otakuyassine3@gmail.com 
Renaissance Capital LLC lessened its position in shares of TPG Inc. (NASDAQ:TPG – Free Report) by 3.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 87,914 shares of the company’s stock after selling 2,704 shares during the period. TPG makes up approximately 3.6% of Renaissance Capital LLC’s investment portfolio, making the stock its 10th largest position. Renaissance Capital LLC’s holdings in TPG were worth $5,525,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in TPG. Sei Investments Co. acquired a new position in TPG in the 2nd quarter valued at about $337,000. The Manufacturers Life Insurance Company grew its holdings in TPG by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,773 shares of the company’s stock valued at $820,000 after buying an additional 2,313 shares during the period. Algert Global LLC acquired a new position in shares of TPG during the 2nd quarter valued at about $290,000. Creative Planning increased its stake in shares of TPG by 25.0% during the 2nd quarter. Creative Planning now owns 6,933 shares of the company’s stock valued at $287,000 after acquiring an additional 1,388 shares during the last quarter. Finally, Ritholtz Wealth Management acquired a new position in shares of TPG during the 3rd quarter valued at about $222,000. Institutional investors and hedge funds own 94.03% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently commented on the stock. TD Cowen dropped their price objective on shares of TPG from $62.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on shares of TPG from $83.00 to $78.00 and set an “overweight” rating for the company in a research note on Tuesday, January 14th. Morgan Stanley upped their price objective on shares of TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group upped their price objective 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, Keefe, Bruyette & Woods upped their price objective on shares of TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $63.00.
Read Our Latest Analysis on TPG
TPG Stock Down 2.6 %
Shares of NASDAQ:TPG opened at $65.47 on Tuesday. 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 52-week low of $39.18 and a 52-week high of $72.98. The company has a 50 day moving average of $66.50 and a two-hundred day moving average of $60.30. The company has a market capitalization of $23.89 billion, a price-to-earnings ratio of -192.55, a price-to-earnings-growth ratio of 0.93 and a beta of 1.49.
TPG (NASDAQ:TPG – Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The company had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.45%. During the same quarter last year, the company earned $0.56 earnings per share. As a group, analysts forecast that TPG Inc. will post 1.95 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Deborah M. Messemer sold 1,695 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $61.91, for a total transaction of $104,937.45. Following the completion of the transaction, the director now directly owns 15,841 shares in the company, valued at approximately $980,716.31. This represents a 9.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 76.48% of the company’s stock.
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.
Featured Articles
Want to see what other hedge funds are holding TPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TPG Inc. (NASDAQ:TPG – Free Report).
Receive News & Ratings for TPG Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for TPG and related companies with MarketBeat.com’s FREE daily email newsletter.