Brokerages Set TPG Inc. (NASDAQ:TPG) Price Target at $57.67

Shares of TPG Inc. (NASDAQ:TPG) have received a consensus rating of “Hold” from the thirteen analysts that are presently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $58.83.

A number of research firms recently issued reports on TPG. Wells Fargo & Company increased their target price on shares of TPG from $67.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. TD Cowen dropped their price objective on shares of TPG from $62.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. BMO Capital Markets lifted their target price on shares of TPG from $45.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday, November 5th. Morgan Stanley increased their price target on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their price objective on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th.

TPG Stock Performance

Shares of TPG opened at $70.18 on Friday. TPG has a 1 year low of $34.07 and a 1 year high of $70.67. The company’s 50 day simple moving average is $63.01 and its 200 day simple moving average is $51.27. The company has a market capitalization of $25.61 billion, a price-to-earnings ratio of -206.41, a PEG ratio of 1.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. TPG had a net margin of 0.69% and a return on equity of 23.45%. The company had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. During the same quarter in the prior year, the company posted $0.56 EPS. On average, sell-side analysts predict that TPG will post 1.95 EPS for the current year.

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 2.17%. The ex-dividend date of this dividend is Thursday, November 14th. TPG’s payout ratio is -447.05%.

Hedge Funds Weigh In On TPG

Several hedge funds and other institutional investors have recently made changes to their positions in TPG. Geode Capital Management LLC grew its position in TPG by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock valued at $83,023,000 after buying an additional 102,663 shares in the last quarter. Barclays PLC lifted its stake in shares of TPG by 14,739.3% in the 3rd quarter. Barclays PLC now owns 602,029 shares of the company’s stock worth $34,652,000 after acquiring an additional 597,972 shares during the period. EP Wealth Advisors LLC bought a new position in shares of TPG in the third quarter valued at approximately $461,000. State Street Corp increased its stake in shares of TPG by 5.0% during the third quarter. State Street Corp now owns 1,421,981 shares of the company’s stock valued at $81,849,000 after acquiring an additional 67,597 shares during the period. Finally, Quarry LP raised its holdings in TPG by 136.2% during the third quarter. Quarry LP now owns 3,201 shares of the company’s stock worth $184,000 after purchasing an additional 1,846 shares in the last quarter. 86.79% of the stock is currently owned by institutional investors and hedge funds.

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.