TPG (NASDAQ:TPG) Price Target Raised to $62.00 at Wells Fargo & Company

TPG (NASDAQ:TPG) had its price objective lifted by Wells Fargo & Company from $58.00 to $62.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

TPG has been the topic of several other reports. TD Cowen cut their target price on TPG from $65.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Citigroup upped their target price on TPG from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley reissued an “equal weight” rating and issued a $47.00 target price (down from $80.00) on shares of TPG in a research report on Monday, April 14th. Wolfe Research assumed coverage on TPG in a research report on Friday, June 20th. They issued an “outperform” rating and a $60.00 target price on the stock. Finally, Evercore ISI upped their target price on TPG from $49.00 to $52.00 and gave the company an “in-line” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.77.

TPG Stock Performance

Shares of TPG stock opened at $55.64 on Friday. The business’s fifty day simple moving average is $50.55 and its 200-day simple moving average is $53.50. The company has a market cap of $20.56 billion, a PE ratio of -168.61, a PEG ratio of 1.20 and a beta of 1.55. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.42. TPG has a 12-month low of $37.52 and a 12-month high of $72.98.

TPG (NASDAQ:TPG) last released its earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). TPG had a net margin of 0.90% and a return on equity of 24.47%. The firm had revenue of $476.26 million during the quarter, compared to analyst estimates of $459.75 million. During the same period in the previous year, the company earned $0.49 earnings per share. TPG’s revenue was up 6.1% on a year-over-year basis. Analysts expect that TPG will post 2.52 earnings per share for the current fiscal year.

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Monday, May 19th. TPG’s payout ratio is -496.97%.

Insider Buying and Selling

In other news, major shareholder Samantha Holloway sold 21,000,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total transaction of $977,970,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 69.98% of the company’s stock.

Institutional Investors Weigh In On TPG

Several hedge funds have recently modified their holdings of the company. Treasurer of the State of North Carolina boosted its stake in shares of TPG by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,946 shares of the company’s stock worth $2,322,000 after acquiring an additional 230 shares in the last quarter. Signaturefd LLC boosted its stake in shares of TPG by 27.0% during the 1st quarter. Signaturefd LLC now owns 1,443 shares of the company’s stock worth $68,000 after acquiring an additional 307 shares in the last quarter. Allworth Financial LP boosted its stake in shares of TPG by 132.3% during the 1st quarter. Allworth Financial LP now owns 648 shares of the company’s stock worth $30,000 after acquiring an additional 369 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of TPG by 43.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,380 shares of the company’s stock worth $72,000 after acquiring an additional 420 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of TPG by 71.4% during the 4th quarter. Comerica Bank now owns 1,080 shares of the company’s stock worth $68,000 after acquiring an additional 450 shares in the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

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.