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

TPG (NASDAQ:TPG - Free Report) had its price objective boosted by Citigroup from $56.00 to $60.00 in a research note released on Thursday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Bank of America cut their target price on shares of TPG from $72.00 to $68.00 and set a "buy" rating on the stock in a research report on Friday, April 4th. Evercore ISI boosted their price objective on shares of TPG from $49.00 to $52.00 and gave the stock an "in-line" rating in a research note on Thursday. UBS Group reduced their price objective on shares of TPG from $72.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wolfe Research started coverage on TPG in a research report on Friday, June 20th. They set an "outperform" rating and a $60.00 price objective for the company. Finally, Morgan Stanley restated an "equal weight" rating and set a $47.00 price objective (down from $80.00) on shares of TPG in a research report on Monday, April 14th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, TPG currently has an average rating of "Moderate Buy" and an average target price of $59.77.

TPG Price Performance

Shares of NASDAQ TPG traded down $0.26 during trading hours on Thursday, hitting $55.73. 402,337 shares of the stock were exchanged, compared to its average volume of 1,354,327. 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 company has a market cap of $20.60 billion, a PE ratio of -168.87, a price-to-earnings-growth ratio of 1.15 and a beta of 1.55. The company's fifty day simple moving average is $50.39 and its two-hundred day simple moving average is $53.56. TPG has a 1-year low of $37.52 and a 1-year high of $72.98.

TPG (NASDAQ:TPG - Get Free Report) last issued 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 net margin of 0.90% and a return on equity of 24.47%. The company had revenue of $476.26 million during the quarter, compared to analyst estimates of $459.75 million. During the same quarter in the prior year, the business earned $0.49 EPS. The business's quarterly revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts predict that TPG will post 2.52 EPS for the current year.

TPG Cuts Dividend

The business 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 2.94%. The ex-dividend date of this dividend was Monday, May 19th. TPG's payout ratio is -496.97%.

Insider Activity at TPG

In related news, major shareholder Samantha Holloway sold 21,000,000 shares of the 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 document filed with the SEC, which is accessible through this link. 69.98% of the stock is owned by insiders.

Institutional Investors Weigh In On TPG

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its position in shares of TPG by 132.3% in the 1st quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $30,000 after purchasing an additional 369 shares during the period. Versant Capital Management Inc lifted its position in shares of TPG by 12,263.6% in the 1st 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 period. Fourth Dimension Wealth LLC purchased a new stake in shares of TPG in the 4th quarter worth about $67,000. Comerica Bank lifted its position in shares of TPG by 71.4% in 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 period. Finally, Signaturefd LLC lifted its position in shares of TPG by 27.0% in the 1st quarter. Signaturefd LLC now owns 1,443 shares of the company's stock worth $68,000 after purchasing an additional 307 shares during the period. Hedge funds and other 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.