Wells Fargo & Company Forecasts Strong Price Appreciation for TPG (NASDAQ:TPG) Stock

TPG (NASDAQ:TPG - Get Free Report) had its price objective raised by stock analysts at Wells Fargo & Company from $56.00 to $58.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 21.87% from the stock's previous close.

Several other equities research analysts have also recently issued reports on the company. Bank of America cut their target price on TPG from $72.00 to $68.00 and set a "buy" rating for the company in a research note on Friday, April 4th. TD Cowen cut their price objective on TPG from $65.00 to $42.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley reiterated an "equal weight" rating and set a $47.00 price target (down from $80.00) on shares of TPG in a research report on Monday, April 14th. Citigroup dropped their price target on shares of TPG from $72.00 to $56.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Finally, JMP Securities reiterated a "market perform" rating on shares of TPG in a report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, TPG presently has a consensus rating of "Hold" and a consensus target price of $60.25.

TPG Trading Down 1.1%

TPG stock traded down $0.55 during midday trading on Friday, hitting $47.59. 1,296,186 shares of the stock were exchanged, compared to its average volume of 1,246,276. TPG has a fifty-two week low of $37.52 and a fifty-two week high of $72.98. The stock has a market capitalization of $17.58 billion, a price-to-earnings ratio of -108.16, a PEG ratio of 0.80 and a beta of 1.58. The stock's 50-day simple moving average is $46.92 and its 200 day simple moving average is $57.20. The company has a current ratio of 0.18, a quick ratio of 0.25 and a debt-to-equity ratio of 0.36.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The firm had revenue of $476.26 million for the quarter, compared to analyst estimates of $459.75 million. TPG had a return on equity of 24.66% and a net margin of 0.67%. The firm's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 EPS. On average, equities analysts anticipate that TPG will post 2.52 EPS for the current year.

Insider Buying and Selling

In other TPG news, General Counsel Bradford Berenson sold 2,509 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total transaction of $125,550.36. Following the completion of the transaction, the general counsel now owns 290,841 shares in the company, valued at $14,553,683.64. The trade was a 0.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Samantha Holloway sold 21,000,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total transaction of $977,970,000.00. The disclosure for this sale can be found here. 69.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TPG

A number of institutional investors and hedge funds have recently modified their holdings of the company. Treasurer of the State of North Carolina boosted its position in shares of TPG by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,946 shares of the company's stock worth $2,322,000 after acquiring an additional 230 shares in the last quarter. Signaturefd LLC boosted its holdings in 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 purchasing an additional 307 shares in the last quarter. Shoker Investment Counsel Inc. boosted its holdings in TPG by 10.4% in the fourth quarter. Shoker Investment Counsel Inc. now owns 3,889 shares of the company's stock valued at $244,000 after purchasing an additional 366 shares in the last quarter. Allworth Financial LP boosted its holdings in TPG by 132.3% in the first quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $30,000 after purchasing an additional 369 shares in the last quarter. Finally, Comerica Bank boosted its holdings in TPG by 71.4% in the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock valued at $68,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds 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.