TPG (NASDAQ:TPG) Given New $61.00 Price Target at TD Cowen

TPG (NASDAQ:TPG) had its price objective upped by TD Cowen from $60.00 to $61.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings downgraded TPG from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. Citigroup reiterated an “outperform” rating on shares of TPG in a report on Thursday, July 9th. Citizens Jmp lowered their price objective on TPG from $75.00 to $68.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Wells Fargo & Company lifted their price objective on TPG from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Wall Street Zen raised TPG from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.07.

TPG Stock Performance

Shares of TPG stock opened at $46.68 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.31 and a quick ratio of 0.31. The firm has a market cap of $17.94 billion, a P/E ratio of 53.66, a P/E/G ratio of 0.90 and a beta of 1.49. The firm has a 50 day simple moving average of $47.00 and a 200 day simple moving average of $45.88. TPG has a fifty-two week low of $36.95 and a fifty-two week high of $70.38.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.02. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $624.66 million. TPG had a return on equity of 29.24% and a net margin of 5.32%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. Sell-side analysts predict that TPG will post 2.78 earnings per share for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 9th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, November 9th. This is a negative change from TPG’s previous quarterly dividend of $0.59. TPG’s dividend payout ratio is presently 357.58%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Junto Capital Management LP bought a new position in TPG during the second quarter worth about $82,794,000. Engineers Gate Manager LP grew its position in shares of TPG by 147.4% during the 2nd quarter. Engineers Gate Manager LP now owns 342,327 shares of the company’s stock worth $13,881,000 after buying an additional 203,956 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of TPG during the 2nd quarter worth about $1,720,000. Jackson Brooke LLC bought a new stake in shares of TPG in the 2nd quarter valued at about $92,395,080. Finally, Caz Investments LP bought a new stake in shares of TPG in the 2nd quarter valued at about $26,358,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

Key TPG News

Here are the key news stories impacting TPG this week:

• Positive Sentiment: Analysts raised targets: TD Cowen, RBC, Wells Fargo and Barclays all increased their price targets, with ratings ranging from “equal weight” to “buy” and “outperform.” The new targets imply approximately 11% to 46% upside, supporting the bullish case for TPG. TD Cowen analyst action
• Positive Sentiment: Quarterly earnings exceeded expectations: TPG reported third-quarter EPS of $0.65 versus the $0.63 consensus estimate. Revenue reached $1.22 billion, up 25.3% year over year and well above the reported $624.7 million estimate, while EPS increased from $0.53 a year earlier. TPG Q3 earnings report
• Positive Sentiment: Fundraising outlook remains strong: TPG reportedly expects to raise a record $55 billion this year, which could expand fee-generating assets and improve long-term earnings visibility. TPG fundraising outlook
• Neutral Sentiment: TPG is reportedly considering a roughly $5 billion acquisition of Ark Data Centres and has launched a $10 billion climate fund. These initiatives could create new growth opportunities but also involve significant capital deployment and execution risk. TPG Ark Data Centres talks
• Negative Sentiment: Dividend was reduced: TPG declared a quarterly dividend of $0.55 per share, down 6.8% from $0.59 previously. The cut may concern income-focused investors despite the approximately 4.6% indicated yield. TPG dividend announcement

TPG Company Profile

TPG Inc is a global alternative asset management firm that invests across a range of strategies, including private equity, growth equity, impact investing, real estate, infrastructure, credit and secondaries. The company partners with businesses and management teams to provide capital, strategic guidance and operational support.

TPG manages investment funds for institutional investors and other clients, with a focus on sectors such as technology, healthcare, consumer products and services, financial services, and business services.