TPG (NASDAQ:TPG) Price Target Raised to $63.00

TPG (NASDAQ:TPG) had its target price lifted by TD Cowen from $60.00 to $63.00 in a report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other analysts have also recently commented on the stock. UBS Group increased their price target on shares of TPG from $82.00 to $83.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America upped their price objective on TPG from $65.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Morgan Stanley lifted their target price on TPG from $58.00 to $63.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. The Goldman Sachs Group restated a “buy” rating and set a $80.00 target price on shares of TPG in a research report on Tuesday, January 6th. Finally, Cowen reaffirmed a “hold” rating on shares of TPG in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.58.

TPG Price Performance

Shares of TPG stock opened at $67.14 on Wednesday. TPG has a 52 week low of $37.52 and a 52 week high of $70.38. The stock has a market capitalization of $25.38 billion, a PE ratio of 746.00, a PEG ratio of 1.03 and a beta of 1.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35. The stock’s fifty day moving average is $62.54 and its 200-day moving average is $59.67.

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). TPG had a return on equity of 25.79% and a net margin of 2.83%.The company had revenue of $509.40 million for the quarter, compared to analyst estimates of $510.32 million. During the same quarter last year, the company earned $0.45 EPS. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Equities research analysts expect that TPG will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.7%. TPG’s dividend payout ratio is 2,000.00%.

Institutional Investors Weigh In On TPG

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its holdings in shares of TPG by 52.2% during the second quarter. Public Employees Retirement System of Ohio now owns 40,825 shares of the company’s stock worth $2,141,000 after acquiring an additional 13,998 shares during the period. Clear Harbor Asset Management LLC raised its stake in shares of TPG by 84.9% in the 3rd quarter. Clear Harbor Asset Management LLC now owns 142,372 shares of the company’s stock valued at $8,179,000 after purchasing an additional 65,387 shares during the period. Cerity Partners LLC lifted its holdings in shares of TPG by 195.1% in the third quarter. Cerity Partners LLC now owns 206,266 shares of the company’s stock valued at $11,850,000 after purchasing an additional 136,374 shares in the last quarter. Boston Partners acquired a new position in shares of TPG during the second quarter worth about $8,461,000. Finally, New York State Common Retirement Fund grew its holdings in shares of TPG by 42.1% during the second quarter. New York State Common Retirement Fund now owns 69,162 shares of the company’s stock worth $3,628,000 after buying an additional 20,500 shares in the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.

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.