Deborah Messemer, a director at TPG Inc. (NASDAQ:TPG), has sold shares of the company's Class A common stock, according to a recent SEC filing. The $23 billion market cap investment firm has seen its stock surge over 70% in the past year, according to InvestingPro data. The transaction, which occurred on January 14, involved the sale of 1,695 shares at a weighted average price of approximately $61.906 per share, totaling $104,930. Following the sale, Messemer holds 15,841 shares in the company. The shares were sold in multiple transactions at prices ranging from $61.73 to $62.42. InvestingPro analysis indicates the stock is currently trading at a high earnings multiple, with additional insights available in the comprehensive Pro Research Report covering TPG among 1,400+ top US stocks.
In other recent news, TPG Inc. reported a GAAP net income of $9 million and after-tax distributable earnings of $189 million, or $0.45 per share. The firm's total assets under management soared to $239 billion, a remarkable 76% increase year-over-year. TPG also announced a dividend of $0.38 per share. In governance news, Kathy Elsesser has joined the TPG board as an independent director, bringing with her a wealth of experience from over three decades at Goldman Sachs (NYSE:GS). This appointment is part of TPG's strategic transition towards a board with a majority of independent directors.
TPG Rise Climate, a branch of TPG, is reportedly in discussions to acquire Altus Power, signaling a potential expansion in the firm's climate investment portfolio. In analyst notes, TD (TSX:TD) Cowen maintained a Hold rating on TPG but reduced the price target from $62.00 to $58.00 due to anticipated higher investment expenditures. Conversely, BMO (TSX:BMO) Capital maintained a Market Perform rating while increasing its price target to $60 from $45, citing improving transaction activity across asset classes.
Among other recent developments, TPG is set to launch the TPG Private Equity Opportunities vehicle next year and anticipates a surge in management fee growth in 2025. The firm's strategic moves also include the acquisition of DIRECTV and the planned acquisition of EchoStar's DISH business.
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