TPG Inc. (NASDAQ:TPG – Get Free Report)’s stock price reached a new 52-week high on Tuesday after Evercore ISI raised their price target on the stock from $46.00 to $60.00. Evercore ISI currently has an in-line rating on the stock. TPG traded as high as $61.48 and last traded at $61.35, with a volume of 261364 shares trading hands. The stock had previously closed at $60.41.
Several other brokerages also recently weighed in on TPG. Morgan Stanley increased their target price on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group increased their price target on TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. increased their price target on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen decreased their price objective 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, Wells Fargo & Company increased their price objective on TPG from $60.00 to $67.00 and gave the company an “overweight” rating in a research 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. According to MarketBeat.com, TPG presently has an average rating of “Hold” and a consensus price target of $52.25.
Institutional Trading of TPG
TPG Price Performance
The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average is $53.53 and its 200 day moving average is $47.05. The company has a market cap of $22.24 billion, a P/E ratio of -435.57, a PEG ratio of 0.97 and a beta of 1.53.
TPG (NASDAQ:TPG – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.06. The company had revenue of $744.19 million during the quarter, compared to the consensus estimate of $449.34 million. TPG had a return on equity of 24.27% and a net margin of 1.08%. During the same quarter in the prior year, the company earned $0.26 EPS. As a group, sell-side analysts anticipate that TPG Inc. will post 1.99 EPS for the current year.
TPG Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.42 per share. This is a positive change from TPG’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, August 16th. This represents a $1.68 annualized dividend and a dividend yield of 2.76%. TPG’s payout ratio is presently -1,200.00%.
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.
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