TD Cowen Cuts TPG (NASDAQ:TPG) Price Target to $58.00

TPG (NASDAQ:TPG) had its price target cut by TD Cowen from $62.00 to $58.00 in a research note published on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets boosted their price objective on shares of TPG from $45.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on TPG from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley lifted their target price on shares of TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Evercore ISI boosted their price target on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.50.

TPG Trading Down 0.3 %

NASDAQ TPG traded down $0.21 during trading on Wednesday, hitting $66.22. The stock had a trading volume of 541,450 shares, compared to its average volume of 872,395. The company has a market capitalization of $24.16 billion, a PE ratio of -194.76, a PEG ratio of 1.10 and a beta of 1.49. The firm has a 50 day moving average price of $59.96 and a 200 day moving average price of $49.80. TPG has a twelve month low of $30.99 and a twelve month high of $69.86. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.39.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. TPG had a return on equity of 23.45% and a net margin of 0.69%. The company 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 earnings per share. As a group, equities research analysts forecast that TPG will post 1.94 earnings per share for the current year.

TPG Cuts Dividend

The company also recently announced 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. This represents a $1.52 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Thursday, November 14th. TPG’s dividend payout ratio is -447.06%.

Hedge Funds Weigh In On TPG

Several institutional investors have recently added to or reduced their stakes in TPG. International Assets Investment Management LLC acquired a new stake in shares of TPG in the 2nd quarter worth $25,000. Signaturefd LLC increased 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 worth $62,000 after purchasing an additional 188 shares during the last quarter. Covestor Ltd boosted its holdings in TPG by 1,128.3% during the 3rd quarter. Covestor Ltd now owns 1,867 shares of the company’s stock valued at $107,000 after acquiring an additional 1,715 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in TPG during the 1st quarter worth $112,000. Finally, KBC Group NV raised its stake in TPG by 25.1% in the third quarter. KBC Group NV now owns 2,405 shares of the company’s stock valued at $138,000 after buying an additional 482 shares in the last quarter. 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.