TPG (NASDAQ:TPG) Announces Quarterly Earnings Results

TPG (NASDAQ:TPG) issued its earnings results on Wednesday. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06, Briefing.com reports. The company had revenue of $512.30 million during the quarter, compared to analysts’ expectations of $452.87 million. TPG had a net margin of 3.35% and a return on equity of 18.69%. The business’s revenue for the quarter was up 64.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 EPS.

TPG Trading Down 1.4 %

Shares of NASDAQ:TPG traded down $0.59 during trading on Thursday, reaching $42.93. The stock had a trading volume of 943,206 shares, compared to its average volume of 771,127. TPG has a 52 week low of $24.74 and a 52 week high of $47.20. The firm’s fifty day moving average is $44.37 and its 200 day moving average is $40.38. The stock has a market cap of $15.66 billion, a price-to-earnings ratio of -1,074.75, a P/E/G ratio of 0.75 and a beta of 1.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.16 and a current ratio of 0.16.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $0.41 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.82%. TPG’s dividend payout ratio (DPR) is currently -4,400.00%.

Insider Activity at TPG

In other news, CAO Martin Davidson sold 39,317 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $41.64, for a total value of $1,637,159.88. Following the transaction, the chief accounting officer now directly owns 30,991 shares of the company’s stock, valued at approximately $1,290,465.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TPG news, Chairman James G. Coulter sold 16,949 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $41.64, for a total value of $705,756.36. Following the completion of the sale, the chairman now owns 386,936 shares of the company’s stock, valued at $16,112,015.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Martin Davidson sold 39,317 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $41.64, for a total value of $1,637,159.88. Following the completion of the transaction, the chief accounting officer now owns 30,991 shares in the company, valued at $1,290,465.24. The disclosure for this sale can be found here. Insiders have sold a total of 2,434,129 shares of company stock worth $101,357,132 over the last quarter. Company insiders own 78.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of TPG in a research note on Tuesday, April 9th. The Goldman Sachs Group reissued a “buy” rating on shares of TPG in a report on Monday, April 1st. UBS Group lifted their price target on shares of TPG from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, April 12th. Morgan Stanley raised their target price on shares of TPG from $31.00 to $40.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Finally, TheStreet cut TPG from a “c” rating to a “d” rating in a research note on Monday, March 18th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.25.

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.