Deutsche Bank Aktiengesellschaft Increases TPG (NASDAQ:TPG) Price Target to $67.00

TPG (NASDAQ:TPG) had its price target raised by Deutsche Bank Aktiengesellschaft from $65.00 to $67.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Morgan Stanley increased their price objective on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Evercore ISI lifted their target price on TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. TD Cowen lowered their price objective on 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 upped their target price on TPG from $60.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Seven equities research 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, TPG presently has an average rating of “Hold” and an average price target of $57.50.

TPG Stock Performance

Shares of TPG stock opened at $66.22 on Tuesday. The company’s 50 day moving average price is $59.96 and its two-hundred day moving average price is $49.80. The firm has a market capitalization of $24.16 billion, a P/E ratio of -194.76, a P/E/G ratio of 1.10 and a beta of 1.49. TPG has a fifty-two week low of $30.99 and a fifty-two week high of $69.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.25 and a quick ratio of 0.25.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. TPG had a return on equity of 23.45% and a net margin of 0.69%. The business had revenue of $855.40 million for the quarter, compared to analyst estimates of $449.98 million. During the same quarter in the previous year, the company posted $0.56 EPS. On average, equities analysts forecast that TPG will post 1.94 earnings per share for the current fiscal year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a $0.38 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.52 annualized dividend and a yield of 2.30%. TPG’s payout ratio is currently -447.06%.

Hedge Funds Weigh In On TPG

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in TPG by 21.6% during the first quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock worth $328,826,000 after buying an additional 1,305,799 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of TPG by 5.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock worth $278,161,000 after acquiring an additional 366,306 shares during the last quarter. Capital International Investors lifted its position in TPG by 9.6% in the 1st quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock valued at $172,581,000 after acquiring an additional 336,665 shares in the last quarter. Millennium Management LLC boosted its stake in TPG by 32.4% during the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock valued at $156,188,000 after purchasing an additional 922,571 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in TPG by 13.9% during the 2nd quarter. American Century Companies Inc. now owns 1,240,450 shares of the company’s stock worth $51,417,000 after purchasing an additional 151,317 shares in the last quarter. 86.79% of the stock is owned by institutional investors and hedge funds.

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.