The Goldman Sachs Group Has Lowered Expectations for TPG (NASDAQ:TPG) Stock Price

TPG (NASDAQ:TPG) had its price target dropped by equities research analysts at The Goldman Sachs Group from $70.00 to $63.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 53.70% from the stock’s current price.

Several other brokerages have also commented on TPG. BMO Capital Markets increased their price objective on TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Wells Fargo & Company decreased their price objective on shares of TPG from $78.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. JMP Securities restated a “market perform” rating on shares of TPG in a research note on Thursday, February 13th. Evercore ISI lifted their price objective on shares of TPG from $65.00 to $66.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 12th. Finally, Keefe, Bruyette & Woods upped their target price on TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.42.

TPG Stock Down 3.2 %

Shares of NASDAQ TPG opened at $40.99 on Thursday. TPG has a 52-week low of $37.52 and a 52-week high of $72.98. The firm has a market capitalization of $15.14 billion, a price-to-earnings ratio of -93.16, a PEG ratio of 0.80 and a beta of 1.54. The stock has a 50 day moving average price of $54.99 and a 200 day moving average price of $61.48. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.25 and a current ratio of 0.18.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. Sell-side analysts expect that TPG will post 2.52 earnings per share for the current year.

Insider Activity

In related news, General Counsel Bradford Berenson sold 2,509 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total transaction of $125,550.36. Following the completion of the sale, the general counsel now directly owns 290,841 shares of the company’s stock, valued at approximately $14,553,683.64. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deborah M. Messemer sold 1,695 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $61.91, for a total transaction of $104,937.45. Following the transaction, the director now directly owns 15,841 shares of the company’s stock, valued at approximately $980,716.31. This trade represents a 9.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 76.48% of the company’s stock.

Hedge Funds Weigh In On TPG

A number of hedge funds have recently made changes to their positions in TPG. Geode Capital Management LLC lifted its holdings in TPG by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock worth $83,023,000 after buying an additional 102,663 shares in the last quarter. Gunderson Capital Management Inc. purchased a new stake in TPG during the 4th quarter worth about $1,815,000. Highland Capital Management LLC boosted its position in shares of TPG by 21.2% during the 4th quarter. Highland Capital Management LLC now owns 51,267 shares of the company’s stock worth $3,222,000 after acquiring an additional 8,967 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of TPG by 2,515.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company’s stock valued at $104,296,000 after acquiring an additional 1,596,254 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of TPG by 2.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 322,991 shares of the company’s stock worth $18,591,000 after acquiring an additional 8,615 shares in the last quarter. Hedge funds and other institutional investors own 94.03% 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.