TPG Inc. (NASDAQ:TPG) Raises Dividend to $0.59 Per Share

Key Points

• TPG Inc. has raised its quarterly dividend to $0.59 per share, marking a 43.9% increase from the previous dividend of $0.41.
• The company reported a profit of $0.69 per share for the latest quarter, exceeding analysts' expectations and reflecting an 8.9% increase in year-over-year revenue.
• TPG's average target price among analysts is $60.43, with ratings ranging from buy to hold.

TPG Inc. (NASDAQ:TPG - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, RTT News reports. Shareholders of record on Monday, August 18th will be paid a dividend of 0.59 per share on Tuesday, September 2nd. This represents a c) annualized dividend and a yield of 4.0%. This is a 43.9% increase from TPG's previous quarterly dividend of $0.41.

TPG has a payout ratio of 57.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect TPG to earn $3.18 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 51.6%.

TPG Trading Up 3.0%

NASDAQ TPG traded up $1.69 during trading hours on Wednesday, hitting $58.97. 526,618 shares of the company were exchanged, compared to its average volume of 1,661,413. The stock has a 50-day moving average price of $53.10 and a 200 day moving average price of $52.52. 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 has a 52 week low of $37.52 and a 52 week high of $72.98. The stock has a market cap of $21.96 billion, a PE ratio of -178.00, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56.

TPG (NASDAQ:TPG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.24. TPG had a return on equity of 24.47% and a net margin of 0.90%. During the same quarter in the previous year, the company earned $0.49 EPS. The firm's revenue was up 8.9% on a year-over-year basis. Analysts forecast that TPG will post 2.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TPG shares. TD Cowen reduced their price objective on TPG from $65.00 to $42.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company upped their target price on TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Wolfe Research initiated coverage on TPG in a research note on Friday, June 20th. They set an "outperform" rating and a $60.00 target price on the stock. Evercore ISI upped their target price on TPG from $49.00 to $52.00 and gave the company an "in-line" rating in a research note on Thursday, July 10th. Finally, Citigroup upped their target price on TPG from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, TPG presently has an average rating of "Moderate Buy" and an average target price of $60.43.

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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