TPG Inc. (NASDAQ:TPG) Receives Average Rating of “Moderate Buy” from Brokerages

TPG Inc. (NASDAQ:TPG) has been assigned an average recommendation of “Moderate Buy” from the nineteen brokerages that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $66.7857.

Several brokerages have commented on TPG. TD Cowen raised their target price on TPG from $58.00 to $60.00 and gave the stock a “hold” rating in a research note on Wednesday. UBS Group set a $78.00 price objective on shares of TPG in a research note on Monday, October 6th. Morgan Stanley upped their target price on shares of TPG from $58.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. BNP Paribas Exane raised shares of TPG from a “neutral” rating to an “outperform” rating and set a $69.00 price target for the company in a report on Wednesday, July 30th. Finally, BMO Capital Markets began coverage on shares of TPG in a research report on Friday, October 3rd. They set an “outperform” rating and a $65.00 price target for the company.

TPG Price Performance

Shares of NASDAQ:TPG opened at $55.13 on Friday. TPG has a fifty-two week low of $37.52 and a fifty-two week high of $72.98. The company’s 50-day moving average is $58.12 and its 200 day moving average is $55.09. The company has a market capitalization of $20.83 billion, a P/E ratio of 612.56, a price-to-earnings-growth ratio of 1.01 and a beta of 1.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.40 and a current ratio of 0.35.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The company had revenue of $596.50 million for the quarter, compared to analysts’ expectations of $510.32 million. TPG had a return on equity of 25.79% and a net margin of 2.83%.The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. On average, equities research analysts forecast that TPG will post 2.52 earnings per share for the current year.

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 14th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, November 14th. TPG’s dividend payout ratio (DPR) is currently 2,622.22%.

Hedge Funds Weigh In On TPG

Institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in TPG by 27.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,250 shares of the company’s stock worth $1,396,000 after acquiring an additional 6,267 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in TPG by 62.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company’s stock worth $360,000 after purchasing an additional 2,913 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of TPG in the 1st quarter worth about $540,000. Richard Bernstein Advisors LLC bought a new position in shares of TPG during the 1st quarter valued at about $2,915,000. Finally, Allworth Financial LP increased its position in shares of TPG by 132.3% during 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 last quarter. Institutional investors own 94.03% of the company’s stock.

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.