Citigroup Boosts TPG (NASDAQ:TPG) Price Target to $60.00

TPG (NASDAQ:TPG - Free Report) had its price target upped by Citigroup from $56.00 to $60.00 in a report issued on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

TPG has been the topic of a number of other research reports. Wells Fargo & Company boosted their price target on shares of TPG from $56.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. TD Cowen dropped their target price on shares of TPG from $65.00 to $42.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Evercore ISI boosted their target price on shares of TPG from $49.00 to $52.00 and gave the company an "in-line" rating in a research report on Thursday. Morgan Stanley reiterated an "equal weight" rating and set a $47.00 target price (down previously from $80.00) on shares of TPG in a research report on Monday, April 14th. Finally, Bank of America decreased their price target on shares of TPG from $72.00 to $68.00 and set a "buy" rating for the company in a research note on Friday, April 4th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, TPG currently has an average rating of "Moderate Buy" and an average price target of $59.77.

TPG Trading Down 0.6%

TPG traded down $0.35 during trading on Thursday, reaching $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 one year low of $37.52 and a one year high of $72.98. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $20.56 billion, a PE ratio of -168.61, a price-to-earnings-growth ratio of 1.19 and a beta of 1.55. The firm has a fifty day moving average price of $50.55 and a two-hundred day moving average price of $53.42.

TPG (NASDAQ:TPG - Get Free Report) last posted its 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). 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 the consensus estimate of $459.75 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The company's revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts forecast that TPG will post 2.52 earnings per share for the current fiscal year.

TPG Cuts Dividend

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

Insider Activity

In other news, major shareholder Samantha Holloway sold 21,000,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total value of $977,970,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 69.98% of the company's stock.

Institutional Investors Weigh In On TPG

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Treasurer of the State of North Carolina raised its stake in shares of TPG by 0.6% during the fourth 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 raised its stake in shares of TPG by 27.0% during the first quarter. Signaturefd LLC now owns 1,443 shares of the company's stock worth $68,000 after acquiring an additional 307 shares in the last quarter. Allworth Financial LP raised its stake 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 acquiring an additional 369 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of TPG by 43.8% during the second quarter. Parallel Advisors LLC now owns 1,380 shares of the company's stock worth $72,000 after acquiring an additional 420 shares in the last quarter. Finally, Comerica Bank raised its stake in shares of TPG by 71.4% during the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock worth $68,000 after acquiring an additional 450 shares in the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

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.