Bank of America Issues Positive Forecast for TPG (NASDAQ:TPG) Stock Price

Key Points

• Bank of America has raised its price target for TPG stock from $65.00 to $69.00, indicating a potential upside of 17.70% from its previous close, while maintaining a "buy" rating.
• TPG's recent quarterly earnings surpassed expectations, reporting $0.69 earnings per share against a consensus estimate of $0.45, along with revenues of $495.12 million.
• Current analyst ratings for TPG include two Strong Buy ratings, nine Buy ratings, and six Hold ratings, with a consensus average price target of $62.07.

TPG (NASDAQ:TPG - Get Free Report) had its price objective hoisted by Bank of America from $65.00 to $69.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's price target would suggest a potential upside of 17.70% from the company's previous close.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Friday, July 11th. BNP Paribas raised TPG to a "strong-buy" rating in a research report on Wednesday, July 30th. BMO Capital Markets began coverage on TPG in a research report on Friday. They set an "outperform" rating and a $65.00 price target on the stock. Wolfe Research assumed coverage on shares of TPG in a report on Friday, June 20th. They issued an "outperform" rating and a $60.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on TPG from $56.00 to $65.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.07.

TPG Stock Performance

TPG traded up $2.26 during trading hours on Friday, reaching $58.63. The company's stock had a trading volume of 593,805 shares, compared to its average volume of 1,681,760. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.40. TPG has a 52 week low of $37.52 and a 52 week high of $72.98. The firm has a market cap of $22.15 billion, a PE ratio of -308.43, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. The company's 50-day moving average is $60.30 and its 200-day moving average is $53.14.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.24. The firm had revenue of $495.12 million for the quarter, compared to analyst estimates of $470.57 million. TPG had a net margin of 1.60% and a return on equity of 25.79%. The business's quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, equities analysts forecast that TPG will post 2.52 EPS for the current year.

Insider Buying and Selling at TPG

In other news, Director Deborah M. Messemer sold 1,796 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total transaction of $101,150.72. Following the completion of the sale, the director owned 16,807 shares in the company, valued at approximately $946,570.24. This trade represents a 9.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 69.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On TPG

Several large investors have recently bought and sold shares of TPG. Allworth Financial LP grew its position in TPG by 132.3% in the 1st quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $30,000 after acquiring an additional 369 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of TPG in the 2nd quarter valued at $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of TPG by 268.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company's stock valued at $38,000 after purchasing an additional 524 shares during the period. GAMMA Investing LLC raised its stake in shares of TPG by 55.7% during the 2nd quarter. GAMMA Investing LLC now owns 945 shares of the company's stock worth $50,000 after buying an additional 338 shares during the last quarter. Finally, MAI Capital Management lifted its stake in shares of TPG by 572.3% during the 2nd quarter. MAI Capital Management now owns 1,190 shares of the company's stock worth $62,000 after purchasing an additional 1,013 shares during the period. 94.03% of the stock is currently owned by institutional investors.

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.

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