TPG (NASDAQ:TPG) Price Target Raised to $52.00

TPG (NASDAQ:TPG - Free Report) had its target price increased by Evercore ISI from $49.00 to $52.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an in-line rating on the stock.

TPG has been the subject of a number of other research reports. Wells Fargo & Company lifted their price target on TPG from $56.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Morgan Stanley reaffirmed an "equal weight" rating and set a $47.00 price target (down previously from $80.00) on shares of TPG in a research report on Monday, April 14th. TD Cowen lowered their price target on TPG from $65.00 to $42.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Bank of America lowered their price target on TPG from $72.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Finally, The Goldman Sachs Group lowered their price target on TPG from $70.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, TPG currently has an average rating of "Moderate Buy" and a consensus target price of $59.77.

TPG Stock Down 0.6%

TPG stock traded down $0.35 on Thursday, hitting $55.64. 1,384,019 shares of the company's stock were exchanged, compared to its average volume of 1,360,504. TPG has a 12-month low of $37.52 and a 12-month high of $72.98. The firm has a 50 day moving average price of $50.55 and a two-hundred day moving average price of $53.34. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a market cap of $20.72 billion, a P/E ratio of -168.61, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55.

TPG (NASDAQ:TPG - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). TPG had a return on equity of 24.47% and a net margin of 0.90%. The business had revenue of $476.26 million for the quarter, compared to analysts' expectations of $459.75 million. During the same quarter last year, the firm earned $0.49 earnings per share. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that TPG will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $0.41 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.64 annualized dividend and a dividend yield of 2.95%. TPG's dividend payout ratio (DPR) is presently -496.97%.

Insider Activity

In related news, major shareholder Samantha Holloway sold 21,000,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total value of $977,970,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 76.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TPG

A number of large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in TPG by 3,858.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,979 shares of the company's stock worth $104,000 after purchasing an additional 1,929 shares during the period. Jackson Square Capital LLC acquired a new position in TPG in the 2nd quarter worth about $363,000. Parallel Advisors LLC raised its holdings in TPG by 43.8% in the 2nd quarter. Parallel Advisors LLC now owns 1,380 shares of the company's stock worth $72,000 after purchasing an additional 420 shares during the period. Strs Ohio acquired a new position in TPG in the 1st quarter worth about $1,057,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in TPG by 156.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company's stock worth $22,941,000 after purchasing an additional 294,941 shares during the period. Institutional investors and hedge funds own 94.03% of the company's stock.

TPG Company Profile

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.