TPG (NASDAQ:TPG) Announces Earnings Results, Beats Expectations By $0.10 EPS

TPG (NASDAQ:TPG) issued its quarterly earnings data on Tuesday. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.10, FiscalAI reports. The firm had revenue of $628.19 million during the quarter, compared to the consensus estimate of $596.80 million. TPG had a return on equity of 28.13% and a net margin of 3.81%.The business’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS.

TPG Price Performance

TPG stock opened at $48.87 on Tuesday. The stock has a market cap of $18.78 billion, a price-to-earnings ratio of 223.08, a P/E/G ratio of 0.81 and a beta of 1.44. TPG has a 12-month low of $36.95 and a 12-month high of $70.38. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.63. The business’s 50-day simple moving average is $42.20 and its 200 day simple moving average is $44.92.

Wall Street Analyst Weigh In

TPG has been the subject of a number of research reports. Keefe, Bruyette & Woods upgraded TPG to a “moderate buy” rating in a research note on Monday, July 20th. Citizens Jmp reduced their price target on shares of TPG from $75.00 to $68.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. Evercore set a $47.00 price objective on shares of TPG in a report on Tuesday, April 21st. UBS Group raised their price objective on shares of TPG from $54.00 to $59.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Finally, BMO Capital Markets dropped their target price on shares of TPG from $52.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.43.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TPG. Darlington Partners Capital Management LP acquired a new position in TPG during the second quarter valued at approximately $258,581,000. Bank of America Corp DE raised its holdings in TPG by 72.7% in the third quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock worth $204,960,000 after purchasing an additional 1,501,808 shares during the period. Morgan Stanley raised its holdings in TPG by 22.8% in the fourth quarter. Morgan Stanley now owns 2,384,592 shares of the company’s stock worth $152,232,000 after purchasing an additional 442,095 shares during the period. State Street Corp boosted its position in shares of TPG by 4.1% during the fourth quarter. State Street Corp now owns 2,325,301 shares of the company’s stock worth $148,447,000 after purchasing an additional 92,603 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of TPG by 16.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,742,456 shares of the company’s stock valued at $111,238,000 after buying an additional 240,613 shares during the period. Institutional investors own 94.03% of the company’s stock.

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.