Deborah Messemer, CEO of TPG Inc. (NASDAQ:TPG), sold shares of the company’s Class A common stock, according to a recent filing with the SEC. The investment firm, with a market capitalization of $23 billion, has seen its shares rise more than 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, for a total of $104,930. After the sale, Messemer holds 15,841 shares of the company. Shares were sold in multiple transactions at prices ranging from $61.73 to $62.42. InvestingPro analysis shows that the stock is currently trading at a high multiple, with additional insights available in a comprehensive Pro Research Report covering TPG among the top 1,400+ US stocks.
In other recent news, TPG Inc. reported GAAP net income of $9 million and after-tax earnings of $189 million, or $0.45 per share. The firm’s total assets under management rose to $239 billion, an incredible 76% year-over-year increase. TPG also announced a dividend of $0.38 per share. In management news, Kathy Elsesser has joined the TPG board as an independent director, bringing with her a wealth of experience gained over three decades at Goldman Sachs. This appointment is part of TPG’s strategic transition towards a board with a majority of independent directors.
TPG Rise Climate, an arm of TPG, is reportedly in talks to acquire Altus Power, signaling a potential expansion of the company’s climate investment portfolio. In analyst notes, TD Cowen maintained a Hold rating on TPG, but cut its price target from $62.00 to $58.00 due to expected higher investment costs. Conversely, BMO Capital maintained its market perform rating while raising its price target to $60 from $45, citing improving transaction activity across asset classes.
Among other recent developments, TPG is poised to launch the TPG Private Equity Opportunities vehicle next year and predicts a spike in management fee growth in 2025. The company’s strategic moves also include the acquisition of DIRECTV and the planned acquisition of EchoStar’s DISH business.
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