TPG (NASDAQ:TPG) Price Target Raised to $57.00

TPG (NASDAQ:TPG) had its price target lifted by Keefe, Bruyette & Woods from $53.00 to $57.00 in a report released on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other equities analysts also recently issued reports on the company. UBS Group upped their price target on TPG from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings cut TPG from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, July 31st. Wall Street Zen upgraded TPG from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. BMO Capital Markets reduced their target price on TPG from $52.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Finally, TD Cowen decreased their price target on TPG from $48.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.33.

TPG Price Performance

TPG opened at $48.99 on Wednesday. The firm has a market capitalization of $18.83 billion, a PE ratio of 74.23, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.31 and a quick ratio of 0.33. The business’s 50-day moving average is $42.74 and its two-hundred day moving average is $44.57. TPG has a 1 year low of $36.95 and a 1 year high of $70.38.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. TPG had a net margin of 4.67% and a return on equity of 28.10%. The business had revenue of $628.19 million during the quarter, compared to analyst estimates of $596.79 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was up 23.9% on a year-over-year basis. Research analysts anticipate that TPG will post 2.84 earnings per share for the current fiscal year.

TPG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, August 14th. TPG’s dividend payout ratio is presently 357.58%.

Institutional Trading of TPG

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CX Institutional lifted its holdings in TPG by 481.4% in the second quarter. CX Institutional now owns 657 shares of the company’s stock valued at $27,000 after acquiring an additional 544 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of TPG in the fourth quarter valued at about $38,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of TPG by 268.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock valued at $38,000 after buying an additional 524 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of TPG by 2,496.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 675 shares of the company’s stock worth $43,000 after buying an additional 649 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of TPG by 252.7% in the third quarter. PNC Financial Services Group Inc. now owns 790 shares of the company’s stock worth $45,000 after buying an additional 566 shares in the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

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.