TPG (NASDAQ:TPG) Coverage Initiated at BMO Capital Markets

Key Points

• BMO Capital Markets has initiated coverage on TPG with an "outperform" rating and a price target of $65.00, indicating a potential upside of 15.31% from the previous close.
• TPG's recent earnings report revealed an EPS of $0.69, surpassing analysts' expectations significantly, and the company reported a revenue of $495.12 million, which was higher than the forecasted $470.57 million.
• The stock currently has a consensus rating of "Moderate Buy" with a target price averaging $62.00, supported by various analysts rating the stock as a "Strong Buy" or "Buy".

Research analysts at BMO Capital Markets assumed coverage on shares of TPG (NASDAQ:TPG - Get Free Report) in a research note issued on Friday,Benzinga reports. The firm set an "outperform" rating and a $65.00 price target on the stock. BMO Capital Markets' target price would suggest a potential upside of 15.31% from the stock's previous close.

Several other research analysts also recently weighed in on TPG. Citigroup lifted 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. BNP Paribas raised TPG to a "strong-buy" rating in a research note on Wednesday, July 30th. Wolfe Research began coverage on shares of TPG in a research report on Friday, June 20th. They issued an "outperform" rating and a $60.00 price objective on the stock. Evercore ISI lifted their price objective on TPG from $52.00 to $60.00 and gave the stock an "in-line" rating in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. increased their price objective on TPG from $56.00 to $65.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, TPG presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

TPG Stock Up 0.4%

Shares of NASDAQ:TPG opened at $56.37 on Friday. 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 twelve month low of $37.52 and a twelve month high of $72.98. The company has a market capitalization of $21.30 billion, a PE ratio of -296.68, a P/E/G ratio of 1.18 and a beta of 1.53. The firm has a 50 day simple moving average of $60.30 and a 200-day simple moving average of $53.14.

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

Insider Transactions at TPG

In other news, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction on 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 sale, the director 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 69.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TPG

Hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in TPG by 27.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,250 shares of the company's stock worth $1,396,000 after buying an additional 6,267 shares during the period. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of TPG in the 1st quarter valued at about $237,000. Cresset Asset Management LLC bought a new position in shares of TPG during the first quarter worth about $216,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in TPG by 62.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company's stock worth $360,000 after buying an additional 2,913 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in shares of TPG by 28.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,201,727 shares of the company's stock valued at $104,428,000 after acquiring an additional 481,418 shares during the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

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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