Wells Fargo & Company Issues Positive Forecast for TPG (NASDAQ:TPG) Stock Price

TPG (NASDAQ:TPG - Get Free Report) had its price objective hoisted by equities research analysts at Wells Fargo & Company from $58.00 to $62.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 11.43% from the company's previous close.

Several other brokerages have also commented on TPG. UBS Group cut their price objective on TPG from $72.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Evercore ISI boosted their price objective on TPG from $49.00 to $52.00 and gave the stock an "in-line" rating in a report on Thursday. Wolfe Research assumed coverage on TPG in a report on Friday, June 20th. They set an "outperform" rating and a $60.00 price objective for the company. TD Cowen cut 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. Finally, Citigroup boosted their price objective on TPG from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.77.

TPG Stock Performance

TPG traded down $0.35 during trading hours on Friday, hitting $55.64. The stock had a trading volume of 1,384,019 shares, compared to its average volume of 1,358,742. The company's fifty day simple moving average is $50.55 and its 200 day simple moving average is $53.50. TPG has a 1 year low of $37.52 and a 1 year high of $72.98. The stock has a market cap of $20.56 billion, a PE ratio of -168.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.55. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.42.

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 net margin of 0.90% and a return on equity of 24.47%. The company had revenue of $476.26 million for the quarter, compared to analysts' expectations of $459.75 million. During the same period in the previous year, the firm earned $0.49 EPS. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts anticipate that TPG will post 2.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 69.98% of the company's stock.

Hedge Funds Weigh In On TPG

Several hedge funds have recently made changes to their positions in the business. Treasurer of the State of North Carolina grew its stake in TPG by 0.6% in 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 purchasing an additional 230 shares during the period. Signaturefd LLC increased its holdings in shares of TPG by 27.0% during the first quarter. Signaturefd LLC now owns 1,443 shares of the company's stock valued at $68,000 after acquiring an additional 307 shares in the last quarter. Allworth Financial LP increased its holdings in shares of TPG by 132.3% during the first quarter. Allworth Financial LP now owns 648 shares of the company's stock valued at $30,000 after acquiring an additional 369 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of TPG by 43.8% during the second quarter. Parallel Advisors LLC now owns 1,380 shares of the company's stock valued at $72,000 after acquiring an additional 420 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of TPG by 71.4% during the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock valued at $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.