TPG (NASDAQ:TPG) Price Target Raised to $62.00

by · The Cerbat Gem

TPG (NASDAQ:TPG – Free Report) had its target price increased by Evercore ISI from $55.00 to $62.00 in a report issued on Thursday morning, Marketbeat reports. They currently have an in-line rating on the stock.

TPG has been the topic of a number of other reports. Bank of America increased their target price on TPG from $65.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. BMO Capital Markets initiated coverage on TPG in a research note on Friday, October 3rd. They issued an “outperform” rating and a $65.00 target price on the stock. UBS Group increased their price target on shares of TPG from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Wolfe Research reissued an “outperform” rating and set a $80.00 price objective on shares of TPG in a report on Wednesday, January 7th. Finally, Morgan Stanley boosted their target price on TPG from $58.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.75.

View Our Latest Research Report on TPG

TPG Stock Performance

Shares of TPG stock opened at $62.35 on Thursday. The firm has a 50 day moving average of $63.19 and a 200-day moving average of $60.07. The company has a market cap of $23.57 billion, a price-to-earnings ratio of 692.78, a price-to-earnings-growth ratio of 0.95 and a beta of 1.51. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. TPG has a 52 week low of $37.52 and a 52 week high of $70.38.

TPG (NASDAQ:TPG – Get Free Report) last released its earnings results on Tuesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The company had revenue of $509.40 million for the quarter, compared to analyst estimates of $510.32 million. TPG had a net margin of 2.83% and a return on equity of 25.79%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, equities analysts forecast that TPG will post 2.52 earnings per share for the current year.

TPG Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, November 14th. TPG’s dividend payout ratio (DPR) is 2,000.00%.

Institutional Investors Weigh In On TPG

A number of institutional investors and hedge funds have recently made changes to their positions in TPG. CWM LLC grew its holdings in shares of TPG by 19.5% during the third quarter. CWM LLC now owns 1,227 shares of the company’s stock worth $70,000 after purchasing an additional 200 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of TPG by 12.1% during the 2nd quarter. Osaic Holdings Inc. now owns 2,173 shares of the company’s stock valued at $114,000 after purchasing an additional 234 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of TPG by 3.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,828 shares of the company’s stock valued at $411,000 after buying an additional 238 shares in the last quarter. Lazard Asset Management LLC lifted its position in TPG by 3.1% in the 2nd quarter. Lazard Asset Management LLC now owns 7,828 shares of the company’s stock worth $410,000 after buying an additional 238 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of TPG by 3.0% in the 2nd quarter. QRG Capital Management Inc. now owns 8,251 shares of the company’s stock worth $433,000 after acquiring an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

TPG Company Profile

(Get Free Report)

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.

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