The Goldman Sachs Group Increases TPG (NASDAQ:TPG) Price Target to $60.00

TPG (NASDAQ:TPG) had its target price lifted by equities researchers at The Goldman Sachs Group from $53.00 to $60.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 6.31% from the company’s current price.

Several other equities analysts have also commented on the company. TD Cowen reduced 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. Wells Fargo & Company started coverage on TPG in a research report on Thursday. They set an “overweight” rating and a $60.00 price target on the stock. Finally, JPMorgan Chase & Co. raised 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. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.25.

TPG Price Performance

Shares of TPG stock opened at $56.44 on Friday. 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 50-day moving average price is $47.98 and its 200-day moving average price is $44.87. TPG has a 12 month low of $26.62 and a 12 month high of $56.82.

TPG (NASDAQ:TPG) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. The firm had revenue of $744.19 million for the quarter, compared to analyst estimates of $449.34 million. TPG had a return on equity of 24.27% and a net margin of 1.08%. During the same period in the prior year, the company earned $0.26 EPS. Analysts expect that TPG will post 2.01 EPS for the current year.

Insider Activity at TPG

In related news, Director Deborah M. Messemer sold 4,089 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $46.55, for a total transaction of $190,342.95. Following the transaction, the director now owns 17,536 shares in the company, valued at $816,300.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 76.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ghisallo Capital Management LLC purchased a new position in shares of TPG during the 2nd quarter worth approximately $5,181,000. Creative Planning grew its holdings in shares of TPG by 25.0% during the 2nd quarter. Creative Planning now owns 6,933 shares of the company’s stock worth $287,000 after acquiring an additional 1,388 shares during the period. Algert Global LLC purchased a new position in shares of TPG during the 2nd quarter worth approximately $290,000. The Manufacturers Life Insurance Company grew its holdings in shares of TPG by 13.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,773 shares of the company’s stock worth $820,000 after acquiring an additional 2,313 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of TPG by 32.4% during the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock worth $156,188,000 after acquiring an additional 922,571 shares during the period. Hedge funds and other institutional investors own 86.79% of the company’s stock.

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.