The Goldman Sachs Group Issues Positive Forecast for TPG (NASDAQ:TPG) Stock Price

Key Points

• The Goldman Sachs Group has raised its target price for TPG (NASDAQ:TPG) stock from $61.00 to $69.00, indicating a potential upside of 14.81%.
• TPG recently reported quarterly earnings of $0.69 per share, exceeding analyst estimates by $0.24, alongside a revenue of $495.12 million.
• Currently, TPG has mixed analyst ratings with a consensus rating of Moderate Buy and an average target price of $62.00, reflecting the varied outlook among different research firms.

TPG (NASDAQ:TPG - Get Free Report) had its target price hoisted by equities research analysts at The Goldman Sachs Group from $61.00 to $69.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. The Goldman Sachs Group's target price indicates a potential upside of 14.81% from the stock's current price.

Several other research analysts have also weighed in on the company. TD Cowen dropped their target price on TPG from $65.00 to $42.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. UBS Group lowered their target price on TPG from $72.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wolfe Research started coverage on TPG in a research report on Friday, June 20th. They set an "outperform" rating and a $60.00 price objective on the stock. Wells Fargo & Company lifted their target price on TPG from $58.00 to $62.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Evercore ISI increased their price objective on TPG from $49.00 to $52.00 and gave the stock an "in-line" rating in a research note on Thursday, July 10th. Seven research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.00.

TPG Trading Down 0.2%

NASDAQ:TPG traded down $0.12 on Thursday, reaching $60.10. 1,851,044 shares of the company's stock were exchanged, compared to its average volume of 1,682,915. The firm has a market capitalization of $22.38 billion, a price-to-earnings ratio of -181.70, a price-to-earnings-growth ratio of 1.46 and a beta of 1.56. TPG has a 52-week low of $37.52 and a 52-week high of $72.98. The business has a fifty day moving average of $53.36 and a 200-day moving average of $52.57. 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 posted its quarterly 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 business had revenue of $495.12 million for the quarter, compared to analyst estimates of $470.57 million. TPG had a return on equity of 24.47% and a net margin of 0.90%. The business's revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. As a group, analysts expect that TPG will post 2.52 earnings per share for the current year.

Insider Transactions at TPG

In related news, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 16,807 shares of the company's stock, valued at $946,570.24. This represents a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Samantha Holloway sold 21,000,000 shares of the company'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 Trading of TPG

A number of institutional investors have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in TPG in the 2nd quarter worth $37,000. Bank of New York Mellon Corp increased its holdings in shares of TPG by 17.0% during the second quarter. Bank of New York Mellon Corp now owns 511,975 shares of the company's stock valued at $26,853,000 after acquiring an additional 74,410 shares in the last quarter. Amalgamated Bank lifted its position in shares of TPG by 103.4% during the 2nd quarter. Amalgamated Bank now owns 9,549 shares of the company's stock valued at $501,000 after buying an additional 4,855 shares in the last quarter. Private Wealth Partners LLC raised its holdings in shares of TPG by 303.4% during the 2nd quarter. Private Wealth Partners LLC now owns 60,505 shares of the company's stock worth $3,173,000 after acquiring an additional 45,505 shares during the period. Finally, Teacher Retirement System of Texas grew its position in TPG by 74.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 19,893 shares of the company's stock valued at $1,043,000 after acquiring an additional 8,504 shares in the last quarter. Institutional investors own 94.03% of the company's stock.

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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