TPG (NASDAQ:TPG) Sets New 1-Year High – Still a Buy?

Shares of TPG Inc. (NASDAQ:TPG) hit a new 52-week high during trading on Friday . The company traded as high as $70.83 and last traded at $70.31, with a volume of 245205 shares traded. The stock had previously closed at $69.70.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TPG. TD Cowen dropped their price target on shares of TPG from $62.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. The Goldman Sachs Group increased their price objective on TPG from $67.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Wells Fargo & Company lifted their target price on TPG from $67.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price objective on TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Morgan Stanley boosted their price objective on shares of TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, TPG has a consensus rating of “Hold” and a consensus target price of $58.83.

TPG Stock Performance

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market capitalization of $25.79 billion, a PE ratio of -207.82, a P/E/G ratio of 1.16 and a beta of 1.49. The firm’s 50 day moving average is $63.30 and its two-hundred day moving average is $51.49.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. TPG had a return on equity of 23.45% and a net margin of 0.69%. The business had revenue of $855.40 million for the quarter, compared to analyst estimates of $449.98 million. During the same quarter in the prior year, the company earned $0.56 earnings per share. As a group, research analysts predict that TPG Inc. will post 1.95 earnings per share for the current year.

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, November 14th. TPG’s payout ratio is presently -447.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TPG. Vanguard Group Inc. lifted its position in shares of TPG by 21.6% during the 1st quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock worth $328,826,000 after buying an additional 1,305,799 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in TPG by 38.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 84,661 shares of the company’s stock valued at $3,785,000 after acquiring an additional 23,305 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in TPG in the first quarter valued at $112,000. Price T Rowe Associates Inc. MD grew its holdings in shares of TPG by 22.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 31,209 shares of the company’s stock worth $1,396,000 after purchasing an additional 5,773 shares during the last quarter. Finally, Grandeur Peak Global Advisors LLC increased its position in shares of TPG by 21.9% during the first quarter. Grandeur Peak Global Advisors LLC now owns 109,305 shares of the company’s stock worth $4,886,000 after purchasing an additional 19,616 shares in the last quarter. Hedge funds and other institutional investors own 86.79% of the company’s stock.

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.