TPG (NASDAQ:TPG) Stock Rating Upgraded by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. upgraded TPG's stock rating from "neutral" to "overweight," with a new price target of $78.00, indicating potential upside of 33.31% from its current price.
• Other analysts have joined in, with BNP Paribas giving TPG a "strong-buy" rating and Zacks Research also upgrading it to "strong-buy," reflecting positive sentiment in the market.
• TPG reported $0.69 earnings per share for the last quarter, exceeding expectations, and revenues increased by 8.9% year-over-year, signaling strong financial performance.

TPG (NASDAQ:TPG - Get Free Report) was upgraded by investment analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a report issued on Monday,Benzinga reports. The firm currently has a $78.00 price objective on the stock, up from their prior price objective of $65.00. JPMorgan Chase & Co.'s price target points to a potential upside of 33.31% from the company's current price.

Other analysts have also recently issued research reports about the stock. BNP Paribas raised shares of TPG to a "strong-buy" rating in a research note on Wednesday, July 30th. Zacks Research upgraded shares of TPG from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 8th. Wells Fargo & Company boosted their price target on shares of TPG from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Wolfe Research began coverage on shares of TPG in a research report on Friday, June 20th. They issued an "outperform" rating and a $60.00 price target on the stock. Finally, Citigroup boosted their price target on shares of TPG from $56.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, July 10th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $64.14.

TPG Stock Performance

NASDAQ:TPG opened at $58.51 on Monday. The firm's 50-day moving average is $60.30 and its 200-day moving average is $53.24. TPG has a 52-week low of $37.52 and a 52-week high of $72.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $22.11 billion, a price-to-earnings ratio of -307.95, a PEG ratio of 1.22 and a beta of 1.53.

TPG (NASDAQ:TPG - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.24. The company had revenue of $495.12 million for the quarter, compared to the consensus estimate of $470.57 million. TPG had a net margin of 1.60% and a return on equity of 25.79%. The business's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 EPS. Equities research analysts anticipate that TPG will post 2.52 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total transaction of $101,150.72. Following the completion of the transaction, the director owned 16,807 shares in the company, valued at approximately $946,570.24. This represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 69.98% of the company's stock.

Institutional Trading of TPG

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP lifted its stake in shares of TPG by 132.3% during the 1st quarter. Allworth Financial LP now owns 648 shares of the company's stock worth $30,000 after buying an additional 369 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in TPG during the 2nd quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in TPG by 268.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company's stock worth $38,000 after buying an additional 524 shares during the period. GAMMA Investing LLC lifted its position in shares of TPG by 55.7% in the 2nd quarter. GAMMA Investing LLC now owns 945 shares of the company's stock worth $50,000 after purchasing an additional 338 shares during the period. Finally, MAI Capital Management lifted its position in shares of TPG by 572.3% in the 2nd quarter. MAI Capital Management now owns 1,190 shares of the company's stock worth $62,000 after purchasing an additional 1,013 shares during the period. 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.

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