Bank of America Issues Positive Forecast for TPG (NASDAQ:TPG) Stock Price

TPG (NASDAQ:TPG) had its target price upped by Bank of America from $65.00 to $69.00 in a report released on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. raised their price target on shares of TPG from $56.00 to $65.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. BMO Capital Markets started coverage on shares of TPG in a research note on Friday. They set an “outperform” rating and a $65.00 price target for the company. Evercore ISI raised their price target on shares of TPG from $52.00 to $60.00 and gave the stock an “in-line” rating in a research note on Friday, August 8th. Wells Fargo & Company raised their price target on shares of TPG from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Finally, BNP Paribas Exane upgraded shares of TPG from a “neutral” rating to an “outperform” rating and set a $69.00 price target for the company in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $62.07.

TPG Trading Up 3.8%

NASDAQ:TPG opened at $58.51 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $22.11 billion, a price-to-earnings ratio of -307.95, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. TPG has a 52 week low of $37.52 and a 52 week high of $72.98. The firm has a 50-day moving average price of $60.30 and a two-hundred day moving average price of $53.21.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.45 by $0.24. The firm had revenue of $495.12 million during the quarter, compared to analyst estimates of $470.57 million. TPG had a net margin of 1.60% and a return on equity of 25.79%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. On average, equities analysts expect that TPG will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were issued a $0.59 dividend. This is a boost from TPG’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.36 annualized dividend and a yield of 4.0%. TPG’s payout ratio is -1,242.11%.

Insider Buying and Selling

In related news, Director Deborah M. Messemer sold 1,796 shares of the firm’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total value of $101,150.72. Following the completion of the transaction, the director directly owned 16,807 shares of the company’s stock, valued at approximately $946,570.24. This trade represents a 9.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 69.98% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in TPG by 132.3% in the 1st quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $30,000 after purchasing an additional 369 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in TPG in the 2nd quarter valued at $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in TPG by 268.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock valued at $38,000 after purchasing an additional 524 shares during the period. GAMMA Investing LLC boosted its holdings in TPG by 55.7% in the 2nd quarter. GAMMA Investing LLC now owns 945 shares of the company’s stock valued at $50,000 after purchasing an additional 338 shares during the period. Finally, MAI Capital Management boosted its holdings in TPG by 572.3% in the 2nd quarter. MAI Capital Management now owns 1,190 shares of the company’s stock valued at $62,000 after purchasing an additional 1,013 shares during the period. 94.03% of the stock is owned by institutional investors.

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.