Evercore ISI Forecasts Strong Price Appreciation for TPG (NASDAQ:TPG) Stock

Key Points

• Evercore ISI raised its price target for TPG from $52.00 to $60.00, reflecting a "moderate buy" consensus with a potential downside of 0.58% from its previous close.
• TPG shares opened at $60.35, with a market capitalization of $22.47 billion and a 52-week high of $72.98.
• Major shareholder Samantha Holloway sold 21 million shares of TPG stock for approximately $977.97 million, indicating significant insider activity in the company.

TPG (NASDAQ:TPG - Free Report) had its price objective raised by Evercore ISI from $52.00 to $60.00 in a report published on Friday,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other brokerages have also weighed in on TPG. BNP Paribas raised shares of TPG to a "strong-buy" rating in a report on Wednesday, July 30th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $47.00 price objective (down from $80.00) on shares of TPG in a research note on Monday, April 14th. Citigroup raised their price objective on shares of TPG from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Wolfe Research initiated coverage on shares of TPG in a research note on Friday, June 20th. They issued an "outperform" rating and a $60.00 price objective on the stock. Finally, Wells Fargo & Company raised their price objective on shares of TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.57.

TPG Price Performance

Shares of TPG stock traded up $1.51 during midday trading on Friday, reaching $61.70. The company had a trading volume of 1,724,272 shares, compared to its average volume of 1,835,038. The company has a current ratio of 0.40, a quick ratio of 0.18 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $22.98 billion, a price-to-earnings ratio of -324.74, a price-to-earnings-growth ratio of 1.57 and a beta of 1.56. The stock has a fifty day simple moving average of $53.87 and a 200 day simple moving average of $52.36. TPG has a 1-year low of $37.52 and a 1-year high of $72.98.

TPG (NASDAQ:TPG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.24. The business had revenue of $495.12 million during 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%. TPG's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. As a group, equities research analysts forecast that TPG will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th will be given a dividend of $0.59 per share. This is a positive change from TPG's previous quarterly dividend of $0.41. This represents a $2.36 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, August 18th. TPG's payout ratio is -863.16%.

Insiders Place Their Bets

In related news, Director Deborah M. Messemer sold 1,796 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total transaction of $101,150.72. Following the sale, the director directly owned 16,807 shares in the company, valued at $946,570.24. This trade represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Samantha Holloway sold 21,000,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total transaction of $977,970,000.00. The disclosure for this sale can be found here. Company insiders own 69.98% of the company's stock.

Institutional Investors Weigh In On TPG

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in shares of TPG by 69.1% during the first quarter. Wellington Management Group LLP now owns 10,693,179 shares of the company's stock worth $507,177,000 after acquiring an additional 4,369,618 shares during the period. Vanguard Group Inc. raised its holdings in shares of TPG by 12.5% during the first quarter. Vanguard Group Inc. now owns 9,303,272 shares of the company's stock worth $441,254,000 after acquiring an additional 1,037,225 shares during the period. Temasek Holdings Private Ltd increased its stake in TPG by 114.2% in the 1st quarter. Temasek Holdings Private Ltd now owns 8,529,631 shares of the company's stock valued at $404,560,000 after buying an additional 4,548,452 shares during the last quarter. Geode Capital Management LLC increased its stake in TPG by 30.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,529,402 shares of the company's stock valued at $185,136,000 after buying an additional 831,865 shares during the last quarter. Finally, Capital World Investors increased its stake in TPG by 484.6% in the 4th quarter. Capital World Investors now owns 3,065,321 shares of the company's stock valued at $192,625,000 after buying an additional 2,541,013 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.