Citigroup Cuts TPG (NASDAQ:TPG) Price Target to $65.00

Key Points

• Citigroup has reduced its price target for TPG from $70.00 to $65.00, while maintaining a "buy" rating, indicating a potential upside of 15.88% from its current price.
• Other analysts have mixed views: Zacks cut TPG from "strong-buy" to "hold," while BNP Paribas upgraded it to "outperform" with a target of $69.00.
• TPG's stock rose 2.2% on Monday, trading at $56.09, with a market capitalization of $21.20 billion.

TPG (NASDAQ:TPG - Get Free Report) had its price objective reduced by analysts at Citigroup from $70.00 to $65.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 15.88% from the stock's current price.

Other equities research analysts have also recently issued reports about the stock. Zacks Research cut shares of TPG from a "strong-buy" rating to a "hold" rating in a report on Wednesday, October 8th. BNP Paribas Exane raised shares of TPG from a "neutral" rating to an "outperform" rating and set a $69.00 target price for the company in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised shares of TPG from a "neutral" rating to an "overweight" rating and upped their target price for the company from $65.00 to $78.00 in a report on Monday, October 6th. BNP Paribas raised shares of TPG to a "strong-buy" rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets initiated coverage on shares of TPG in a report on Friday, October 3rd. They set an "outperform" rating and a $65.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, TPG currently has an average rating of "Moderate Buy" and an average price target of $64.50.

TPG Trading Up 2.2%

TPG stock traded up $1.18 during mid-day trading on Monday, hitting $56.09. The company's stock had a trading volume of 1,030,958 shares, compared to its average volume of 1,678,446. The firm has a market capitalization of $21.20 billion, a PE ratio of -296.81, a price-to-earnings-growth ratio of 0.99 and a beta of 1.53. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45. TPG has a 1 year low of $37.52 and a 1 year high of $72.98. The stock's fifty day moving average is $60.27 and its two-hundred day moving average is $53.46.

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

Insider Transactions at TPG

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total value of $101,150.72. Following the completion of the transaction, the director directly owned 16,807 shares of the company's stock, valued at approximately $946,570.24. This trade represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 76.48% of the company's stock.

Institutional Trading of TPG

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

TPG Company Profile

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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