TPG (NASDAQ:TPG) Price Target Raised to $66.00

TPG (NASDAQ:TPG) had its price objective increased by Evercore ISI from $65.00 to $66.00 in a report released on Wednesday,Benzinga reports. They currently have an in-line rating on the stock.

Several other brokerages have also commented on TPG. BMO Capital Markets lifted their price objective on TPG from $60.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company cut their price objective on TPG from $83.00 to $78.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. TD Cowen cut their price objective on TPG from $62.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. The Goldman Sachs Group lifted their price objective on TPG from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods lifted their price objective on TPG from $62.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, TPG presently has a consensus rating of “Hold” and an average price target of $63.08.

TPG Stock Up 1.5 %

Shares of NASDAQ:TPG opened at $59.38 on Wednesday. TPG has a 12-month low of $39.18 and a 12-month high of $72.98. The stock has a fifty day simple moving average of $65.08 and a two-hundred day simple moving average of $60.97. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $21.67 billion, a price-to-earnings ratio of -174.64, a PEG ratio of 0.88 and a beta of 1.49.

TPG (NASDAQ:TPG) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.10. TPG had a return on equity of 23.45% and a net margin of 0.69%. On average, research analysts anticipate that TPG will post 1.95 earnings per share for the current fiscal year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 21st will be given a $0.53 dividend. This is an increase from TPG’s previous quarterly dividend of $0.38. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, February 21st. TPG’s payout ratio is currently -447.05%.

Insider Buying and Selling

In other TPG news, Director Deborah M. Messemer sold 1,695 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $61.91, for a total transaction of $104,937.45. Following the sale, the director now directly owns 15,841 shares in the company, valued at $980,716.31. This represents a 9.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 76.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Freestone Grove Partners LP bought a new position in shares of TPG during the fourth quarter valued at approximately $16,458,000. Comerica Bank grew its stake in shares of TPG by 71.4% during the fourth quarter. Comerica Bank now owns 1,080 shares of the company’s stock valued at $68,000 after buying an additional 450 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its stake in shares of TPG by 351.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 119,520 shares of the company’s stock valued at $7,511,000 after buying an additional 93,022 shares during the last quarter. Northern Trust Corp grew its stake in shares of TPG by 4.2% during the fourth quarter. Northern Trust Corp now owns 534,487 shares of the company’s stock valued at $33,587,000 after buying an additional 21,737 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new position in shares of TPG during the fourth quarter valued at approximately $661,000. Institutional investors own 94.03% of the company’s stock.

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.