Brokerages Set TPG Inc. (NASDAQ:TPG) Price Target at $58.83

Shares of TPG Inc. (NASDAQ:TPG) have received a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $60.08.

A number of equities analysts have issued reports on the company. The Goldman Sachs Group increased their price target on TPG from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. TD Cowen dropped their price target on shares of TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Evercore ISI raised their price objective on shares of TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Wells Fargo & Company boosted their target price on shares of TPG from $68.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, November 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of TPG by 5.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock valued at $278,161,000 after buying an additional 366,306 shares during the last quarter. Millennium Management LLC lifted its stake in TPG by 32.4% in the second quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock valued at $156,188,000 after acquiring an additional 922,571 shares during the last quarter. Franklin Resources Inc. grew its position in TPG by 10.1% in the third quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company’s stock worth $161,921,000 after acquiring an additional 244,373 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of TPG by 146.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company’s stock worth $96,166,000 after purchasing an additional 992,818 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of TPG by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock valued at $83,023,000 after purchasing an additional 102,663 shares in the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

TPG Price Performance

Shares of NASDAQ TPG opened at $67.13 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a market capitalization of $24.50 billion, a PE ratio of -197.44, a P/E/G ratio of 1.11 and a beta of 1.46. TPG has a 1-year low of $38.20 and a 1-year high of $72.98. The business’s fifty day moving average price is $66.72 and its two-hundred day moving average price is $54.50.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (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 business had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. During the same period in the previous year, the firm posted $0.56 earnings per share. On average, research analysts expect that TPG will post 1.95 EPS for the current year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.52 annualized dividend and a yield of 2.26%. TPG’s dividend payout ratio (DPR) is presently -447.05%.

TPG Company Profile

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.