TPG (NASDAQ:TPG) Shares Down 9.2% – Here’s What Happened

Shares of TPG Inc. (NASDAQ:TPG) dropped 9.2% during trading on Thursday . The company traded as low as $43.39 and last traded at $43.5270. Approximately 794,926 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 3,182,066 shares. The stock had previously closed at $47.94.

Analysts Set New Price Targets

A number of research analysts recently commented on TPG shares. UBS Group cut their target price on TPG from $83.00 to $60.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. decreased their target price on shares of TPG from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. The Goldman Sachs Group reissued a “buy” rating and issued a $80.00 price target on shares of TPG in a research report on Tuesday, January 6th. Wolfe Research reiterated an “outperform” rating and issued a $80.00 price objective on shares of TPG in a research note on Wednesday, January 7th. Finally, Morgan Stanley set a $67.00 target price on TPG in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.29.

TPG Stock Down 0.2%

The company has a market cap of $16.83 billion, a P/E ratio of 101.16, a PEG ratio of 0.66 and a beta of 1.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.35. The business’s 50 day moving average price is $60.56 and its 200-day moving average price is $59.59.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.20. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $548.40 million. TPG had a return on equity of 26.02% and a net margin of 3.95%.The business’s revenue was up 35.6% on a year-over-year basis. During the same period last year, the firm posted $0.62 EPS. On average, analysts anticipate that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 19th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 5.5%. The ex-dividend date is Thursday, February 19th. This is a boost from TPG’s previous quarterly dividend of $0.45. TPG’s dividend payout ratio is 554.55%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. CWM LLC boosted its position in TPG by 19.5% in the 3rd quarter. CWM LLC now owns 1,227 shares of the company’s stock valued at $70,000 after buying an additional 200 shares during the last quarter. Osaic Holdings Inc. increased its position in TPG by 12.1% in the second quarter. Osaic Holdings Inc. now owns 2,173 shares of the company’s stock worth $114,000 after purchasing an additional 234 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in TPG by 3.1% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,828 shares of the company’s stock worth $411,000 after purchasing an additional 238 shares during the last quarter. Lazard Asset Management LLC lifted its position in TPG by 3.1% during the 2nd quarter. Lazard Asset Management LLC now owns 7,828 shares of the company’s stock valued at $410,000 after purchasing an additional 238 shares during the period. Finally, Strategic Wealth Partners Ltd. grew its position in shares of TPG by 2.5% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 10,253 shares of the company’s stock worth $589,000 after buying an additional 253 shares during the period. Institutional investors own 94.03% of the company’s stock.

TPG Company Profile

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.