TPG (NASDAQ:TPG) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of TPG (NASDAQ:TPG) from a hold rating to a sell rating in a research report released on Saturday.

TPG has been the subject of several other reports. Morgan Stanley set a $60.00 target price on TPG in a research report on Tuesday, April 21st. UBS Group boosted their price target on shares of TPG from $54.00 to $59.00 and gave the company a “buy” rating in a report on Monday, May 4th. Citigroup restated an “outperform” rating on shares of TPG in a research note on Thursday, July 9th. Evercore set a $47.00 price objective on shares of TPG in a report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft set a $55.00 target price on shares of TPG in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, TPG has a consensus rating of “Moderate Buy” and an average price target of $61.40.

TPG Stock Down 1.8%

NASDAQ TPG opened at $42.97 on Friday. TPG has a twelve month low of $36.95 and a twelve month high of $70.38. The stock has a market cap of $16.51 billion, a PE ratio of 195.33, a PEG ratio of 0.80 and a beta of 1.45. The firm has a 50-day simple moving average of $41.96 and a 200 day simple moving average of $46.55. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.33 and a current ratio of 0.33.

TPG (NASDAQ:TPG) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. The company had revenue of $557.18 million during the quarter, compared to the consensus estimate of $608.07 million. TPG had a return on equity of 28.13% and a net margin of 3.81%.The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $0.48 EPS. On average, research analysts forecast that TPG will post 2.85 EPS for the current year.

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Monday, May 11th. TPG’s dividend payout ratio is 1,072.73%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Darlington Partners Capital Management LP bought a new stake in shares of TPG during the second quarter worth $258,581,000. Millennium Management LLC lifted its position in TPG by 66.9% during the 4th quarter. Millennium Management LLC now owns 4,584,733 shares of the company’s stock worth $292,689,000 after buying an additional 1,837,799 shares in the last quarter. Norges Bank acquired a new position in TPG during the 4th quarter worth about $106,755,000. Bank of America Corp DE grew its holdings in TPG by 72.7% during the 3rd quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock worth $204,960,000 after acquiring an additional 1,501,808 shares during the last quarter. Finally, Temasek Holdings Private Ltd grew its holdings in TPG by 14.1% during the 1st quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company’s stock worth $406,239,000 after acquiring an additional 1,236,526 shares during the last quarter. 94.03% of the stock is owned by institutional investors.

About TPG

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.