TPG (NASDAQ:TPG) Lowered to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded TPG from a "strong-buy" to a "hold" rating, reflecting a shift in investment sentiment.
• Despite the downgrade, other firms like Goldman Sachs and Citigroup have reaffirmed buy ratings and raised price targets for TPG, indicating mixed analyst opinions.
• TPG reported earnings of $0.69 per share, surpassing estimates and showing an increase in revenue compared to the previous year, demonstrating strong financial performance.

TPG (NASDAQ:TPG - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group boosted their price target on TPG from $61.00 to $69.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Weiss Ratings reissued a "hold (c-)" rating on shares of TPG in a research note on Wednesday. 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. Citigroup lifted their price objective on TPG from $56.00 to $60.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, UBS Group set a $78.00 price objective on TPG in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.14.

TPG Stock Performance

Shares of TPG stock opened at $58.18 on Wednesday. The stock has a market capitalization of $21.98 billion, a PE ratio of -306.21, a price-to-earnings-growth ratio of 1.11 and a beta of 1.53. TPG has a 52-week low of $37.52 and a 52-week high of $72.98. The stock's 50-day moving average price is $60.29 and its 200 day moving average price is $53.40. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45.

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

Insiders Place Their Bets

In related news, Director Deborah M. Messemer sold 1,796 shares of the company's stock in a transaction 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 approximately $946,570.24. This represents a 9.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 69.98% of the company's stock.

Hedge Funds Weigh In On TPG

Large investors have recently modified their holdings of the stock. Allworth Financial LP lifted its position in shares of TPG by 132.3% during the first quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $30,000 after purchasing an additional 369 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of TPG during the second quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TPG by 268.7% during the second 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 during the last quarter. GAMMA Investing LLC lifted its position in shares of TPG by 55.7% during the second quarter. GAMMA Investing LLC now owns 945 shares of the company's stock worth $50,000 after purchasing an additional 338 shares during the last quarter. Finally, MAI Capital Management lifted its holdings in TPG by 572.3% in the second quarter. MAI Capital Management now owns 1,190 shares of the company's stock worth $62,000 after acquiring an additional 1,013 shares during 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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