TPG (NASDAQ:TPG) Price Target Raised to $60.00

TPG (NASDAQ:TPG) had its price objective boosted by BMO Capital Markets from $45.00 to $60.00 in a research note issued to investors on Tuesday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Other equities research analysts also recently issued research reports about the company. TD Cowen dropped their target price on TPG from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Deutsche Bank Aktiengesellschaft boosted their target price on TPG from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company boosted their target price on TPG from $67.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their target price on TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $57.50.

TPG Trading Down 2.0 %

Shares of TPG opened at $66.43 on Tuesday. The stock has a fifty day moving average price of $59.65 and a two-hundred day moving average price of $49.64. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25. TPG has a 52-week low of $30.54 and a 52-week high of $69.86. The company has a market cap of $24.24 billion, a price-to-earnings ratio of -195.38, a PEG ratio of 0.98 and a beta of 1.49.

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, meeting the consensus estimate of $0.45. TPG had a return on equity of 23.57% and a net margin of 0.69%. The firm had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. During the same quarter in the previous year, the company posted $0.56 EPS. Analysts predict that TPG will post 1.96 EPS for the current fiscal year.

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.29%. TPG’s dividend payout ratio (DPR) is presently -494.10%.

Institutional Investors Weigh In On TPG

A number of institutional investors have recently made changes to their positions in TPG. Vanguard Group Inc. grew its stake in TPG by 21.6% in the first quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock valued at $328,826,000 after acquiring an additional 1,305,799 shares during the period. Massachusetts Financial Services Co. MA grew its stake in TPG by 5.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock valued at $278,161,000 after acquiring an additional 366,306 shares during the period. Capital International Investors grew its stake in TPG by 9.6% in the first 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 during the period. Millennium Management LLC grew 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 period. Finally, American Century Companies Inc. grew its stake in TPG by 13.9% in the second quarter. American Century Companies Inc. now owns 1,240,450 shares of the company’s stock valued at $51,417,000 after acquiring an additional 151,317 shares during the period. 86.79% of the stock is owned by institutional investors and hedge funds.

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.