TPG (NASDAQ:TPG) Stock Price Expected to Rise, Evercore ISI Analyst Says

TPG (NASDAQ:TPG - Free Report) had its target price lifted by Evercore ISI from $49.00 to $52.00 in a research note published on Thursday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

TPG has been the topic of several other research reports. The Goldman Sachs Group reduced their price objective on shares of TPG from $70.00 to $63.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley reiterated an "equal weight" rating and issued a $47.00 target price (down from $80.00) on shares of TPG in a report on Monday, April 14th. Citigroup decreased their price target on shares of TPG from $72.00 to $56.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company upped their price objective on shares of TPG from $56.00 to $58.00 and gave the company an "overweight" rating in a research report on Friday, May 23rd. Finally, Wolfe Research initiated coverage on TPG in a research note on Friday, June 20th. They set an "outperform" rating and a $60.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.77.

TPG Trading Down 0.6%

TPG stock traded down $0.33 during trading hours on Thursday, reaching $55.67. 1,030,108 shares of the company's stock traded hands, compared to its average volume of 1,358,116. The firm has a market capitalization of $20.57 billion, a price-to-earnings ratio of -168.68, a PEG ratio of 1.15 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.18 and a current ratio of 0.18. TPG has a fifty-two week low of $37.52 and a fifty-two week high of $72.98. The firm's 50 day moving average is $50.39 and its 200-day moving average is $53.56.

TPG (NASDAQ:TPG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The company had revenue of $476.26 million during the quarter, compared to analyst estimates of $459.75 million. TPG had a net margin of 0.90% and a return on equity of 24.47%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. On average, analysts predict that TPG will post 2.52 earnings per share for the current year.

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $0.41 per share. The ex-dividend date was Monday, May 19th. This represents a $1.64 dividend on an annualized basis and a yield of 2.95%. TPG's payout ratio is currently -496.97%.

Insider Buying and Selling

In related news, major shareholder Samantha Holloway sold 21,000,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total transaction of $977,970,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 69.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TPG

Several hedge funds and other institutional investors have recently bought and sold shares of TPG. Allworth Financial LP grew its holdings in shares of TPG by 132.3% during the first quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $30,000 after buying an additional 369 shares during the last quarter. Versant Capital Management Inc boosted its position in TPG by 12,263.6% in the first quarter. Versant Capital Management Inc now owns 1,360 shares of the company's stock worth $65,000 after purchasing an additional 1,349 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in TPG during the fourth quarter valued at about $67,000. Comerica Bank increased its stake in shares of TPG by 71.4% during the 4th quarter. Comerica Bank now owns 1,080 shares of the company's stock worth $68,000 after purchasing an additional 450 shares during the last quarter. Finally, Signaturefd LLC raised its stake in shares of TPG by 27.0% in the first quarter. Signaturefd LLC now owns 1,443 shares of the company's stock valued at $68,000 after buying an additional 307 shares during the period. 94.03% of the stock is owned by institutional investors.

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.