TPG (NASDAQ:TPG) Coverage Initiated by Analysts at Barclays

Barclays started coverage on shares of TPG (NASDAQ:TPG) in a research note published on Wednesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $78.00 target price on the stock.

TPG has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price target on shares of TPG from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Evercore ISI lifted their target price on shares of TPG from $55.00 to $62.00 and gave the stock an “in-line” rating in a report on Thursday, January 22nd. TD Cowen reissued a “hold” rating on shares of TPG in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of TPG in a report on Monday, December 29th. Finally, Zacks Research cut TPG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.69.

TPG Price Performance

Shares of TPG traded down $0.99 during mid-day trading on Wednesday, hitting $58.38. 545,079 shares of the company traded hands, compared to its average volume of 1,820,278. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of 647.64, a PEG ratio of 0.91 and a beta of 1.51. The business has a 50-day moving average of $63.48 and a 200 day moving average of $60.17. TPG has a one year low of $37.52 and a one year high of $70.38.

TPG (NASDAQ:TPG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The firm had revenue of $509.40 million during the quarter, compared to the consensus estimate of $510.32 million. TPG had a net margin of 2.83% and a return on equity of 25.79%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 earnings per share. As a group, equities analysts expect that TPG will post 2.52 earnings per share for the current fiscal year.

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.80 annualized dividend and a dividend yield of 3.1%. TPG’s dividend payout ratio is currently 2,000.00%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank lifted its position in shares of TPG by 43.1% in the first quarter. Comerica Bank now owns 1,545 shares of the company’s stock worth $73,000 after purchasing an additional 465 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of TPG by 86.3% during the 1st quarter. Royal Bank of Canada now owns 7,901 shares of the company’s stock worth $375,000 after buying an additional 3,659 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in TPG by 4,109.1% during the first quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock worth $27,083,000 after acquiring an additional 557,438 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in TPG by 156.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company’s stock valued at $22,941,000 after purchasing an additional 294,941 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position 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 worth $104,000 after purchasing an additional 1,929 shares during the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.

About TPG

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.