TPG (NASDAQ:TPG) Hits New 12-Month High After Analyst Upgrade

TPG Inc. (NASDAQ:TPG)’s stock price reached a new 52-week high on Tuesday after Evercore ISI raised their price target on the stock from $46.00 to $60.00. Evercore ISI currently has an in-line rating on the stock. TPG traded as high as $61.48 and last traded at $61.35, with a volume of 261364 shares trading hands. The stock had previously closed at $60.41.

Several other brokerages also recently weighed in on TPG. Morgan Stanley increased their target price on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group increased their price target on TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price target on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen decreased their price objective on TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Finally, Wells Fargo & Company increased their price objective on TPG from $60.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, TPG presently has an average rating of “Hold” and a consensus price target of $52.25.

Institutional Trading of TPG

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew 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 buying an additional 1,305,799 shares during the period. Millennium Management LLC boosted its stake in 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 acquiring an additional 922,571 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of TPG by 902.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 418,608 shares of the company’s stock valued at $17,352,000 after acquiring an additional 376,848 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of TPG by 5.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock worth $278,161,000 after purchasing an additional 366,306 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of TPG by 9.6% in the 1st quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock worth $172,581,000 after purchasing an additional 336,665 shares during the period. Institutional investors and hedge funds own 86.79% of the company’s stock.

TPG Price Performance

The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average is $53.53 and its 200 day moving average is $47.05. The company has a market cap of $22.24 billion, a P/E ratio of -435.57, a PEG ratio of 0.97 and a beta of 1.53.

TPG (NASDAQ:TPG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.06. The company had revenue of $744.19 million during the quarter, compared to the consensus estimate of $449.34 million. TPG had a return on equity of 24.27% and a net margin of 1.08%. During the same quarter in the prior year, the company earned $0.26 EPS. As a group, sell-side analysts anticipate that TPG Inc. will post 1.99 EPS for the current year.

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.42 per share. This is a positive change from TPG’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, August 16th. This represents a $1.68 annualized dividend and a dividend yield of 2.76%. TPG’s payout ratio is presently -1,200.00%.

About TPG

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.