TPG (NASDAQ:TPG) Coverage Initiated by Analysts at Wells Fargo & Company

Key Points

• Wells Fargo initiated coverage of TPG with an “equal weight” rating and a $47 price target, implying 5.22% upside from the prior close.
• TPG has a consensus “Moderate Buy” rating from analysts, with 12 Buy ratings and five Holds and an average price target of $61.87.
• TPG exceeded quarterly earnings and revenue expectations, reporting $0.69 EPS and $628.19 million in revenue, while institutional investors own 94.03% of its shares.

Research analysts at Wells Fargo & Company started coverage on shares of TPG (NASDAQ:TPG - Get Free Report) in a research note issued on Friday, MarketBeat reports. The brokerage set an "equal weight" rating and a $47.00 price target on the stock. Wells Fargo & Company's price target would indicate a potential upside of 5.22% from the company's previous close.

A number of other equities analysts have also recently issued reports on the company. Royal Bank Of Canada increased their price target on TPG from $60.00 to $65.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. UBS Group boosted their target price on shares of TPG from $59.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. BMO Capital Markets dropped their target price on TPG from $52.00 to $50.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Citigroup reaffirmed an "outperform" rating on shares of TPG in a research report on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $62.00 price target on shares of TPG in a research report on Wednesday, August 5th. Twelve research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $61.87.

TPG Trading Down 0.1%

Shares of TPG stock opened at $44.67 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $17.17 billion, a price-to-earnings ratio of 67.68, a PEG ratio of 0.74 and a beta of 1.49. The firm's 50-day moving average price is $48.69 and its two-hundred day moving average price is $44.22. TPG has a 12-month low of $36.95 and a 12-month high of $70.38.

TPG (NASDAQ:TPG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. TPG had a net margin of 4.67% and a return on equity of 28.10%. The company had revenue of $628.19 million for the quarter, compared to the consensus estimate of $596.79 million. During the same period last year, the company posted $0.69 EPS. The firm's quarterly revenue was up 23.9% compared to the same quarter last year. On average, analysts forecast that TPG will post 2.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TPG

Several institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. lifted its position in shares of TPG by 3.0% during the 2nd quarter. QRG Capital Management Inc. now owns 8,145 shares of the company's stock valued at $330,000 after buying an additional 237 shares during the last quarter. Junto Capital Management LP purchased a new stake in TPG in the 2nd quarter worth about $82,794,000. Engineers Gate Manager LP raised its stake in TPG by 147.4% in the 2nd quarter. Engineers Gate Manager LP now owns 342,327 shares of the company's stock valued at $13,881,000 after acquiring an additional 203,956 shares during the period. NewEdge Advisors LLC raised its stake in TPG by 189.0% in the 2nd quarter. NewEdge Advisors LLC now owns 15,031 shares of the company's stock valued at $610,000 after acquiring an additional 9,830 shares during the period. Finally, Vulcan Value Partners LLC lifted its holdings in TPG by 18.9% during the second quarter. Vulcan Value Partners LLC now owns 2,361,862 shares of the company's stock valued at $95,774,000 after purchasing an additional 375,836 shares during the last quarter. Hedge funds and other institutional investors own 94.03% of the company's stock.

TPG Company Profile

TPG Inc is a global alternative asset management firm that invests across private equity, growth equity, impact investing, real estate, and credit strategies. The company manages capital on behalf of institutional investors, sovereign wealth funds, family offices, and other clients, with investments spanning a range of industries and stages of business development.

TPG operates through investment platforms that include TPG Capital, TPG Growth, TPG Rise, TPG Real Estate, and TPG Angelo Gordon.