TPG (NASDAQ:TPG) Reaches New 52-Week High – Here’s What Happened

TPG Inc. (NASDAQ:TPG)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $67.26 and last traded at $67.21, with a volume of 401461 shares traded. The stock had previously closed at $66.68.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Morgan Stanley upped their target price on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price objective on TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upped their price objective on shares of TPG from $60.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. TD Cowen cut their target price on TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Finally, Evercore ISI increased their price target on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Seven investment 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, the company presently has a consensus rating of “Hold” and an average target price of $52.25.

TPG Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25. The stock’s 50 day moving average is $55.91 and its 200 day moving average is $47.92.

TPG (NASDAQ:TPG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The firm had revenue of $744.19 million during the quarter, compared to analyst estimates of $449.34 million. TPG had a return on equity of 24.27% and a net margin of 1.08%. During the same period last year, the company earned $0.26 earnings per share. As a group, research analysts forecast that TPG Inc. will post 1.96 EPS for the current year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from TPG’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 2.51%. TPG’s dividend payout ratio is currently -479.99%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in TPG during the second quarter valued at $25,000. Signaturefd LLC boosted its position in shares of TPG by 21.3% during the 3rd quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock valued at $62,000 after acquiring an additional 188 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of TPG during the first quarter worth about $112,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of TPG in the first quarter worth approximately $151,000. Finally, Ritholtz Wealth Management purchased a new stake in TPG in the third quarter valued at approximately $222,000. 86.79% of the stock is currently owned by hedge funds and other institutional investors.

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.