TPG (NASDAQ:TPG) PT Raised to $60.00

TPG (NASDAQ:TPG) had its price objective upped by The Goldman Sachs Group from $53.00 to $60.00 in a report released on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. increased their target price on TPG from $44.00 to $49.00 and gave the company a neutral rating in a research note on Wednesday, August 7th. TD Cowen cut their price target on shares of TPG from $44.00 to $42.00 and set a hold rating for the company in a research report on Monday, July 8th. Finally, Wells Fargo & Company began coverage on shares of TPG in a research report on Thursday, September 12th. They set an overweight rating and a $60.00 price target for the company. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $47.25.

TPG Trading Up 1.3 %

Shares of TPG stock opened at $57.18 on Friday. The company’s fifty day simple moving average is $47.98 and its two-hundred day simple moving average is $44.88. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.25 and a quick ratio of 0.25. TPG has a 1 year low of $26.62 and a 1 year high of $57.93. The stock has a market capitalization of $20.85 billion, a price-to-earnings ratio of -408.57, a PEG ratio of 0.92 and a beta of 1.52.

TPG (NASDAQ:TPG) last issued its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $744.19 million for the quarter, compared to analysts’ expectations of $449.34 million. TPG had a net margin of 1.08% and a return on equity of 24.27%. During the same quarter in the previous year, the firm posted $0.26 EPS. As a group, analysts anticipate that TPG will post 2.01 earnings per share for the current year.

TPG Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.68 annualized dividend and a dividend yield of 2.94%. This is an increase from TPG’s previous quarterly dividend of $0.41. TPG’s dividend payout ratio (DPR) is -1,200.00%.

Insider Activity at TPG

In other TPG news, Director Deborah M. Messemer sold 4,089 shares of TPG stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $46.55, for a total value of $190,342.95. Following the completion of the sale, the director now owns 17,536 shares of the company’s stock, valued at approximately $816,300.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 76.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Ghisallo Capital Management LLC purchased a new position in shares of TPG during the 2nd quarter worth $5,181,000. Creative Planning boosted its holdings in TPG by 25.0% in the 2nd quarter. Creative Planning now owns 6,933 shares of the company’s stock worth $287,000 after buying an additional 1,388 shares during the period. Algert Global LLC bought a new position in TPG in the 2nd quarter worth $290,000. The Manufacturers Life Insurance Company boosted its holdings in TPG by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,773 shares of the company’s stock worth $820,000 after buying an additional 2,313 shares during the period. Finally, Millennium Management LLC boosted its holdings in TPG by 32.4% in the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock worth $156,188,000 after buying an additional 922,571 shares during the period. Hedge funds and other institutional investors own 86.79% 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.