TPG (NASDAQ:TPG) Hits New 52-Week High After Analyst Upgrade

TPG Inc. (NASDAQ:TPG)’s stock price reached a new 52-week high during mid-day trading on Monday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $67.00 to $69.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. TPG traded as high as $70.09 and last traded at $69.66, with a volume of 216054 shares trading hands. The stock had previously closed at $66.22.

A number of other brokerages have also recently issued reports on TPG. BMO Capital Markets boosted their price objective on TPG from $45.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Evercore ISI boosted their price target on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. The Goldman Sachs Group lifted their target price on TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Cowen decreased their price target on shares of TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a research note on Wednesday, November 6th. Finally, Morgan Stanley raised their price target on shares of TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $57.67.

Hedge Funds Weigh In On TPG

A number of institutional investors and hedge funds have recently bought and sold shares of TPG. International Assets Investment Management LLC acquired a new position in shares of TPG in the second quarter valued at approximately $25,000. Signaturefd LLC increased its position in TPG by 21.3% in the 3rd quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock valued at $62,000 after acquiring an additional 188 shares during the period. Covestor Ltd raised its stake in shares of TPG by 1,128.3% during the third quarter. Covestor Ltd now owns 1,867 shares of the company’s stock valued at $107,000 after acquiring an additional 1,715 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of TPG during the first quarter worth $112,000. Finally, KBC Group NV lifted its holdings in shares of TPG by 25.1% during the third quarter. KBC Group NV now owns 2,405 shares of the company’s stock worth $138,000 after purchasing an additional 482 shares during the period. Institutional investors and hedge funds own 86.79% of the company’s stock.

TPG Stock Down 1.6 %

The firm has a market capitalization of $24.68 billion, a price-to-earnings ratio of -198.94, a P/E/G ratio of 1.08 and a beta of 1.49. 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 stock has a fifty day moving average of $60.70 and a two-hundred day moving average of $50.23.

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 analysts’ consensus estimates of $0.45. TPG had a return on equity of 23.45% and a net margin of 0.69%. The company had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. During the same period last year, the company earned $0.56 earnings per share. Sell-side analysts anticipate that TPG Inc. will post 1.94 earnings per share for the current year.

TPG Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, November 14th. TPG’s dividend payout ratio is currently -447.06%.

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.