TPG (NASDAQ:TPG) Reaches New 12-Month High – Here’s What Happened

Shares of TPG Inc. (NASDAQ:TPG) hit a new 52-week high during trading on Tuesday . The company traded as high as $70.38 and last traded at $69.8310, with a volume of 636588 shares traded. The stock had previously closed at $67.65.

Analysts Set New Price Targets

TPG has been the subject of several analyst reports. Citigroup dropped their price target on shares of TPG from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, October 13th. TD Cowen upped their price objective on TPG from $58.00 to $60.00 and gave the company a “hold” rating in a report on Wednesday, November 5th. UBS Group reissued a “buy” rating on shares of TPG in a research note on Wednesday. Cowen reaffirmed a “hold” rating on shares of TPG in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. cut their price objective on TPG from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.25.

TPG Stock Up 1.5%

The business’s fifty day moving average is $61.10 and its two-hundred day moving average is $59.08. The stock has a market cap of $25.32 billion, a price-to-earnings ratio of 744.00, a PEG ratio of 0.96 and a beta of 1.51. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47.

TPG (NASDAQ:TPG) last issued its earnings results on Tuesday, November 4th. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.02). TPG had a net margin of 2.83% and a return on equity of 25.79%. The firm had revenue of $509.40 million during the quarter, compared to analyst estimates of $510.32 million. During the same period last year, the business earned $0.45 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. Equities analysts forecast that TPG Inc. 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, December 1st. Shareholders of record on Friday, November 14th were paid a $0.45 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.7%. TPG’s dividend payout ratio (DPR) is currently 2,000.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in TPG by 0.5% during the third quarter. Vanguard Group Inc. now owns 12,386,633 shares of the company’s stock worth $711,612,000 after purchasing an additional 56,490 shares during the last quarter. Capital International Investors raised its holdings in TPG by 3.5% during the third quarter. Capital International Investors now owns 11,682,464 shares of the company’s stock worth $671,158,000 after purchasing an additional 392,336 shares in the last quarter. Darlington Partners Capital Management LP purchased a new stake in shares of TPG during the 2nd quarter worth approximately $258,581,000. Bank of America Corp DE lifted its position in shares of 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 buying an additional 1,501,808 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of TPG by 30.8% in the 2nd quarter. Geode Capital Management LLC now owns 3,529,402 shares of the company’s stock valued at $185,136,000 after buying an additional 831,865 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

TPG Company Profile

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.