JPMorgan Chase & Co. Raises TPG (NASDAQ:TPG) Price Target to $65.00

Key Points

• JPMorgan Chase & Co. has raised the price target for TPG from $56.00 to $65.00, indicating a potential upside of 8.05% based on the stock’s current price.
• TPG recently reported $0.69 EPS for the quarter, surpassing analysts' expectations of $0.45 EPS, with revenues also exceeding forecasts.
• Despite positive analyst ratings, TPG's shares traded down 0.1% to $60.16 on the day of the report, amidst various price target adjustments by other investment firms.

TPG (NASDAQ:TPG - Get Free Report) had its target price upped by equities researchers at JPMorgan Chase & Co. from $56.00 to $65.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 8.05% from the stock's current price.

TPG has been the subject of several other reports. Citigroup raised their price target on shares of TPG from $56.00 to $60.00 and gave the company a "buy" rating in a report on Thursday, July 10th. BNP Paribas upgraded shares of TPG to a "strong-buy" rating in a research report on Wednesday, July 30th. Morgan Stanley reissued an "equal weight" rating and set a $47.00 price target (down previously from $80.00) on shares of TPG in a research report on Monday, April 14th. BNP Paribas Exane upgraded 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. Finally, Evercore ISI increased their target price on TPG from $49.00 to $52.00 and gave the stock an "in-line" rating in a research report on Thursday, July 10th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $62.00.

TPG Trading Down 0.1%

Shares of TPG stock traded down $0.06 on Thursday, hitting $60.16. 2,303,741 shares of the company's stock traded hands, compared to its average volume of 1,683,506. The company has a fifty day moving average of $53.36 and a two-hundred day moving average of $52.57. TPG has a one year low of $37.52 and a one year high of $72.98. The company has a market capitalization of $22.40 billion, a price-to-earnings ratio of -182.30, a price-to-earnings-growth ratio of 1.46 and a beta of 1.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.18 and a quick ratio of 0.18.

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 the consensus estimate of $0.45 by $0.24. The company had revenue of $495.12 million for the quarter, compared to analysts' expectations of $470.57 million. TPG had a return on equity of 24.47% and a net margin of 0.90%. TPG's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share. As a group, sell-side analysts expect that TPG will post 2.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Samantha Holloway sold 21,000,000 shares of TPG 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total value of $101,150.72. Following the transaction, the director directly owned 16,807 shares in the company, valued at approximately $946,570.24. This represents a 9.65% decrease in their position. The disclosure for this sale can be found here. Company insiders own 69.98% of the company's stock.

Institutional Trading of TPG

Several institutional investors have recently added to or reduced their stakes in TPG. Allworth Financial LP raised its stake in shares of TPG by 132.3% in the 1st quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $30,000 after buying an additional 369 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in TPG in the second quarter worth about $37,000. GAMMA Investing LLC raised its position in TPG by 55.7% in the second quarter. GAMMA Investing LLC now owns 945 shares of the company's stock worth $50,000 after acquiring an additional 338 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of TPG by 12,263.6% during the 1st quarter. Versant Capital Management Inc now owns 1,360 shares of the company's stock valued at $65,000 after purchasing an additional 1,349 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of TPG in the 4th quarter worth approximately $67,000. 94.03% of the stock is 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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