TPG (NASDAQ:TPG) Price Target Raised to $73.00

TPG (NASDAQ:TPG) had its price objective increased by BMO Capital Markets from $60.00 to $73.00 in a report released on Thursday morning,Benzinga reports. They currently have a market perform rating on the stock.

A number of other brokerages also recently issued reports on TPG. The Goldman Sachs Group boosted their price target on TPG from $67.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Morgan Stanley boosted their target price on shares of TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price target on shares of TPG from $68.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, December 12th. Evercore ISI upped their price objective on shares of TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on TPG from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, TPG currently has a consensus rating of “Hold” and a consensus target price of $63.00.

TPG Trading Up 1.3 %

Shares of TPG stock opened at $64.82 on Thursday. The stock has a market cap of $23.66 billion, a PE ratio of -190.64, a price-to-earnings-growth ratio of 1.11 and a beta of 1.46. The firm has a fifty day moving average price of $67.11 and a 200 day moving average price of $54.96. TPG has a 1 year low of $38.20 and a 1 year high of $72.98. 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 released its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $855.40 million during the quarter, compared to analyst estimates of $449.98 million. TPG had a return on equity of 23.45% and a net margin of 0.69%. During the same quarter last year, the business posted $0.56 EPS. Equities research analysts predict that TPG will post 1.95 earnings per share for the current year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.34%. The ex-dividend date of this dividend was Thursday, November 14th. TPG’s payout ratio is -447.06%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of TPG by 5,656.0% in the third quarter. International Assets Investment Management LLC now owns 34,536 shares of the company’s stock valued at $1,988,000 after buying an additional 33,936 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in TPG in the 2nd quarter valued at about $1,057,000. Millennium Management LLC lifted its stake in TPG by 32.4% in the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock worth $156,188,000 after purchasing an additional 922,571 shares in the last quarter. Geode Capital Management LLC lifted its stake in TPG by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock worth $83,023,000 after purchasing an additional 102,663 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of TPG during the 2nd quarter worth approximately $606,000. Hedge funds and other institutional investors own 94.03% 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.