BNP Paribas Upgrades TPG (NASDAQ:TPG) to Strong-Buy

Key Points

• BNP Paribas has upgraded TPG's stock to a "strong-buy" rating, while other analysts have given mixed ratings ranging from hold to buy, with an average price target of $60.43.
• TPG's recent earnings report revealed an EPS of $0.48, missing estimates, but the company experienced a 6.1% increase in revenue year-over-year.
• Insider trading activity shows significant stock sales, including a major shareholder selling 21 million shares valued at nearly $978 million.

TPG (NASDAQ:TPG - Get Free Report) was upgraded by equities researchers at BNP Paribas to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. TD Cowen cut their price target on shares of TPG from $65.00 to $42.00 and set a "hold" rating on the stock in a report on Wednesday, April 9th. Bank of America lowered their price objective on TPG from $72.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Evercore ISI upped their price objective on TPG from $49.00 to $52.00 and gave the stock an "in-line" rating in a research report on Thursday, July 10th. BNP Paribas Exane upgraded TPG from a "neutral" rating to an "outperform" rating and set a $69.00 price objective on the stock in a research report on Wednesday, July 30th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $47.00 price objective (down previously from $80.00) on shares of TPG in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.43.

TPG Stock Up 1.9%

NASDAQ:TPG traded up $1.04 during mid-day trading on Wednesday, reaching $56.88. The company's stock had a trading volume of 629,456 shares, compared to its average volume of 1,661,842. TPG has a 1 year low of $37.52 and a 1 year high of $72.98. The stock has a fifty day moving average of $52.72 and a 200-day moving average of $52.55. The firm has a market capitalization of $21.18 billion, a PE ratio of -172.35, a price-to-earnings-growth ratio of 1.42 and a beta of 1.56. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.42.

TPG (NASDAQ:TPG - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). TPG had a net margin of 0.90% and a return on equity of 24.47%. The firm had revenue of $476.26 million for the quarter, compared to analysts' expectations of $459.75 million. During the same period in the previous year, the company posted $0.49 earnings per share. The business's quarterly revenue was up 6.1% compared to the same quarter last year. Equities research analysts forecast that TPG will post 2.52 earnings per share for the current year.

Insider Buying and Selling at TPG

In related news, major shareholder Samantha Holloway sold 21,000,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total transaction of $977,970,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deborah M. Messemer sold 1,796 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total value of $101,150.72. Following the sale, the director directly owned 16,807 shares of the company's stock, valued at $946,570.24. The trade was a 9.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. 76.48% of the stock is owned by insiders.

Hedge Funds Weigh In On TPG

Several institutional 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 in the last quarter. GAMMA Investing LLC grew its position in TPG by 55.7% in the 2nd quarter. GAMMA Investing LLC now owns 945 shares of the company's stock valued at $50,000 after acquiring an additional 338 shares in the last quarter. Versant Capital Management Inc grew its position in TPG by 12,263.6% in the 1st quarter. Versant Capital Management Inc now owns 1,360 shares of the company's stock valued at $65,000 after acquiring an additional 1,349 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in TPG in the 4th quarter valued at about $67,000. Finally, Comerica Bank grew its position in TPG by 71.4% in the 4th quarter. Comerica Bank now owns 1,080 shares of the company's stock valued at $68,000 after acquiring an additional 450 shares in the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.

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.