TPG (NASDAQ:TPG) Issues Quarterly Earnings Results

Key Points

• TPG exceeded quarterly expectations, reporting earnings per share of $0.69 versus the $0.59 consensus estimate and revenue of $628.19 million versus $596.80 million. Revenue increased 23.9% year over year.
• TPG shares opened at $48.87, with a 52-week range of $36.95 to $70.38 and a market capitalization of approximately $18.78 billion.
• Analysts maintain a “Moderate Buy” consensus rating, with 11 Buy, four Hold and one Sell recommendation and an average price target of $60.43. Institutional investors own 94.03% of the company’s stock.

TPG (NASDAQ:TPG - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.10, FiscalAI reports. The company had revenue of $628.19 million during the quarter, compared to the consensus estimate of $596.80 million. TPG had a return on equity of 28.13% and a net margin of 3.81%.The company's quarterly revenue was up 23.9% on a year-over-year basis. During the same quarter last year, the company earned $0.69 EPS.

TPG Stock Performance

Shares of NASDAQ:TPG opened at $48.87 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.33 and a quick ratio of 0.33. The business's fifty day moving average price is $42.20 and its two-hundred day moving average price is $44.92. TPG has a fifty-two week low of $36.95 and a fifty-two week high of $70.38. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of 223.08, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TPG. Citigroup reiterated an "outperform" rating on shares of TPG in a research note on Thursday, July 9th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $61.00 price objective on shares of TPG in a report on Tuesday, May 5th. TD Cowen decreased their target price on shares of TPG from $48.00 to $45.00 and set a "hold" rating on the stock in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of TPG in a research note on Monday, May 4th. Finally, Evercore set a $47.00 price target on shares of TPG in a research report on Tuesday, April 21st. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $60.43.

Institutional Investors Weigh In On TPG

Several institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of TPG by 268.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company's stock worth $38,000 after purchasing an additional 524 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in TPG by 252.7% in the third quarter. PNC Financial Services Group Inc. now owns 790 shares of the company's stock valued at $45,000 after buying an additional 566 shares in the last quarter. Quadrant Capital Group LLC boosted its position in TPG by 31.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,132 shares of the company's stock valued at $72,000 after buying an additional 273 shares in the last quarter. Comerica Bank grew its stake in TPG by 43.1% during the first quarter. Comerica Bank now owns 1,545 shares of the company's stock worth $73,000 after buying an additional 465 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in TPG by 12.1% during the second quarter. Osaic Holdings Inc. now owns 2,173 shares of the company's stock worth $114,000 after buying an additional 234 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company's stock.

TPG Company Profile

TPG Inc NASDAQ: TPG is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.

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