TPG (NASDAQ:TPG) Price Target Raised to $67.00 at Wells Fargo & Company

TPG (NASDAQ:TPG) had its price objective increased by analysts at Wells Fargo & Company from $60.00 to $67.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 13.37% from the company’s current price.

Several other research analysts have also weighed in on TPG. TD Cowen lowered their target price on shares of TPG from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their price target on TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.64.

TPG Stock Performance

NASDAQ:TPG traded up $0.30 during trading hours on Wednesday, hitting $59.10. 98,241 shares of the company were exchanged, compared to its average volume of 838,205. The company’s 50 day moving average price is $52.13 and its 200-day moving average price is $46.50. The stock has a market capitalization of $21.56 billion, a price-to-earnings ratio of -422.11, a PEG ratio of 0.98 and a beta of 1.53. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.25 and a quick ratio of 0.25. TPG has a 52-week low of $26.62 and a 52-week high of $61.41.

TPG (NASDAQ:TPG) last posted its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. The firm had revenue of $744.19 million during the quarter, compared to analysts’ expectations of $449.34 million. TPG had a net margin of 1.08% and a return on equity of 24.27%. During the same period in the previous year, the business posted $0.26 EPS. As a group, research analysts forecast that TPG will post 2 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Deborah M. Messemer sold 4,089 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $46.55, for a total transaction of $190,342.95. Following the transaction, the director now owns 17,536 shares of the company’s stock, valued at $816,300.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 76.48% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in TPG by 21.6% during the first quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock valued at $328,826,000 after purchasing an additional 1,305,799 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of TPG by 5.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock valued at $278,161,000 after buying an additional 366,306 shares during the last quarter. Capital International Investors lifted its position in shares of TPG by 9.6% in the first quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock valued at $172,581,000 after buying an additional 336,665 shares during the last quarter. Millennium Management LLC lifted its position in shares of TPG by 32.4% in the second quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock valued at $156,188,000 after buying an additional 922,571 shares during the last quarter. Finally, Putnam Investments LLC lifted its position in shares of TPG by 8.6% in the fourth quarter. Putnam Investments LLC now owns 2,362,082 shares of the company’s stock valued at $101,971,000 after buying an additional 187,183 shares during the last quarter. 86.79% of the stock is currently owned by institutional investors.

TPG Company Profile

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.