TPG (NASDAQ:TPG) Price Target Increased to $60.00 by Analysts at Evercore ISI

TPG (NASDAQ:TPG) had its target price increased by Evercore ISI from $46.00 to $60.00 in a report published on Monday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

TPG has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Morgan Stanley lifted their target price on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen dropped their target price on TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, July 8th. The Goldman Sachs Group raised their price target on shares of TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their price objective on shares of TPG from $60.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.25.

TPG Price Performance

TPG stock opened at $65.08 on Monday. The firm has a 50-day moving average of $54.30 and a two-hundred day moving average of $47.28. The firm has a market capitalization of $23.74 billion, a PE ratio of -185.94, a P/E/G ratio of 0.94 and a beta of 1.53. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. TPG has a one year low of $26.62 and a one year high of $65.25.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. TPG had a net margin of 1.08% and a return on equity of 24.27%. The business had revenue of $744.19 million during the quarter, compared to the consensus estimate of $449.34 million. During the same quarter in the prior year, the firm earned $0.26 EPS. On average, analysts forecast that TPG will post 1.99 earnings per share for the current year.

TPG Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.42 per share. This is an increase from TPG’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.68 annualized dividend and a yield of 2.58%. TPG’s dividend payout ratio is presently -479.99%.

Institutional Investors Weigh In On TPG

Several hedge funds have recently modified their holdings of TPG. Vanguard Group Inc. raised its stake in TPG by 21.6% during the 1st quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock valued at $328,826,000 after purchasing an additional 1,305,799 shares during the last quarter. Millennium Management LLC increased its holdings in shares of TPG by 32.4% during the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock worth $156,188,000 after purchasing an additional 922,571 shares during the period. Thrivent Financial for Lutherans raised its position in shares of TPG by 902.4% during the second quarter. Thrivent Financial for Lutherans now owns 418,608 shares of the company’s stock valued at $17,352,000 after buying an additional 376,848 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of TPG by 5.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock valued at $278,161,000 after buying an additional 366,306 shares during the period. Finally, Capital International Investors grew its position in TPG by 9.6% during the first quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock worth $172,581,000 after buying an additional 336,665 shares in the last quarter. 86.79% of the stock is owned by institutional investors.

TPG Company Profile

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.