TPG (NASDAQ:TPG) Reaches New 1-Year Low After Analyst Downgrade

TPG Inc. (NASDAQ:TPG) reached a new 52-week low during trading on Friday after Bank of America lowered their price target on the stock from $72.00 to $68.00. Bank of America currently has a buy rating on the stock. TPG traded as low as $37.52 and last traded at $39.32, with a volume of 676412 shares traded. The stock had previously closed at $42.33.

A number of other research analysts have also recently weighed in on TPG. The Goldman Sachs Group lowered their target price on shares of TPG from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday. Evercore ISI boosted their price objective on TPG from $65.00 to $66.00 and gave the company an “in-line” rating in a research report on Wednesday, February 12th. Wells Fargo & Company cut their target price on TPG from $78.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. BMO Capital Markets boosted their price target on TPG from $60.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, TPG presently has a consensus rating of “Hold” and an average price target of $62.42.

Insider Buying and Selling at TPG

In other TPG news, General Counsel Bradford Berenson sold 2,509 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total transaction of $125,550.36. Following the sale, the general counsel now directly owns 290,841 shares in the company, valued at $14,553,683.64. This represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Deborah M. Messemer sold 1,695 shares of TPG stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $61.91, for a total value of $104,937.45. Following the completion of the transaction, the director now 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. 76.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On TPG

Several hedge funds and other institutional investors have recently made changes to their positions in TPG. Treasurer of the State of North Carolina grew its holdings in TPG by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,946 shares of the company’s stock valued at $2,322,000 after purchasing an additional 230 shares during the last quarter. Shoker Investment Counsel Inc. boosted its position in shares of TPG by 10.4% during the fourth quarter. Shoker Investment Counsel Inc. now owns 3,889 shares of the company’s stock valued at $244,000 after buying an additional 366 shares during the period. 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. Commonwealth Equity Services LLC raised its holdings in shares of TPG by 6.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 8,021 shares of the company’s stock worth $504,000 after buying an additional 498 shares during the period. Finally, ORG Wealth Partners LLC bought a new stake in shares of TPG during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 94.03% of the company’s stock.

TPG Trading Down 3.2 %

The stock has a fifty day moving average of $54.99 and a 200-day moving average of $61.48. The company has a market cap of $15.14 billion, a PE ratio of -93.16, a PEG ratio of 0.80 and a beta of 1.54. 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 earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. TPG had a net margin of 0.67% and a return on equity of 24.66%. Sell-side analysts anticipate that TPG Inc. will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a dividend of $0.53 per share. The ex-dividend date was Friday, February 21st. This is a positive change from TPG’s previous quarterly dividend of $0.38. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.17%. TPG’s dividend payout ratio (DPR) is -481.82%.

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.