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

TPG (NASDAQ:TPG - Get Free Report) had its price target boosted by equities researchers at Wells Fargo & Company from $58.00 to $62.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 11.19% from the company's current price.

Several other research analysts have also issued reports on the company. UBS Group dropped their target price on TPG from $72.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. TD Cowen dropped their price objective on TPG from $65.00 to $42.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Wolfe Research began coverage on TPG in a research note on Friday, June 20th. They issued an "outperform" rating and a $60.00 target price on the stock. Bank of America decreased their target price on TPG from $72.00 to $68.00 and set a "buy" rating for the company in a research report on Friday, April 4th. Finally, Morgan Stanley restated an "equal weight" rating and issued a $47.00 price target (down from $80.00) on shares of TPG in a report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $59.77.

TPG Trading Up 0.2%

Shares of TPG stock traded up $0.12 on Friday, reaching $55.76. The company had a trading volume of 918,000 shares, compared to its average volume of 1,358,733. The firm's 50-day moving average price is $50.55 and its two-hundred day moving average price is $53.34. TPG has a 1 year low of $37.52 and a 1 year high of $72.98. The firm has a market cap of $20.61 billion, a price-to-earnings ratio of -168.97, a P/E/G ratio of 1.19 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.18 and a quick ratio of 0.18.

TPG (NASDAQ:TPG - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $476.26 million for the quarter, compared to the consensus estimate of $459.75 million. TPG had a net margin of 0.90% and a return on equity of 24.47%. The company's revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. As a group, research analysts predict that TPG will post 2.52 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Samantha Holloway sold 21,000,000 shares of TPG stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 69.98% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TPG. GAMMA Investing LLC lifted its position in TPG by 55.7% during the second quarter. GAMMA Investing LLC now owns 945 shares of the company's stock valued at $50,000 after acquiring an additional 338 shares during the last quarter. Clear Harbor Asset Management LLC lifted its holdings in shares of TPG by 38.8% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 76,985 shares of the company's stock valued at $4,038,000 after purchasing an additional 21,522 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of TPG by 3,858.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,979 shares of the company's stock valued at $104,000 after purchasing an additional 1,929 shares during the last quarter. Jackson Square Capital LLC acquired a new stake in shares of TPG in the 2nd quarter worth $363,000. Finally, Parallel Advisors LLC grew its stake in TPG by 43.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,380 shares of the company's stock worth $72,000 after buying an additional 420 shares during the last quarter. 94.03% of the stock is currently owned by hedge funds and other 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.