TPG (NASDAQ:TPG) Price Target Cut to $78.00 by Analysts at Wells Fargo & Company

TPG (NASDAQ:TPG) had its target price cut by Wells Fargo & Company from $83.00 to $78.00 in a research note published on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of TPG from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Morgan Stanley upped their price objective on TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Keefe, Bruyette & Woods lifted their target price on TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. BMO Capital Markets boosted their price target on TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group raised their price objective on TPG from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, TPG has an average rating of “Hold” and a consensus target price of $62.58.

TPG Trading Up 2.0 %

Shares of TPG stock opened at $63.10 on Tuesday. The stock has a market capitalization of $23.03 billion, a P/E ratio of -185.58, a P/E/G ratio of 1.11 and a beta of 1.49. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average is $66.57 and its 200 day moving average is $57.76. TPG has a 12-month low of $38.20 and a 12-month high of $72.98.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. The company had revenue of $855.40 million during the quarter, compared to analyst estimates of $449.98 million. TPG had a return on equity of 23.45% and a net margin of 0.69%. During the same quarter in the previous year, the company posted $0.56 earnings per share. Research analysts expect that TPG will post 1.95 earnings per share for the current year.

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Thursday, November 14th. TPG’s dividend payout ratio is presently -447.06%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TPG. ORG Wealth Partners LLC bought a new stake in shares of TPG in the 4th quarter worth about $33,000. Signaturefd LLC grew its stake in TPG by 21.3% in the third quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock valued at $62,000 after purchasing an additional 188 shares during the last quarter. Covestor Ltd lifted its position in TPG by 1,128.3% during the third quarter. Covestor Ltd now owns 1,867 shares of the company’s stock valued at $107,000 after acquiring an additional 1,715 shares during the last quarter. KBC Group NV grew its stake in TPG by 25.1% during the 3rd quarter. KBC Group NV now owns 2,405 shares of the company’s stock worth $138,000 after buying an additional 482 shares during the last quarter. Finally, Quarry LP grew its stake in shares of TPG by 136.2% during the third quarter. Quarry LP now owns 3,201 shares of the company’s stock worth $184,000 after acquiring an additional 1,846 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

About TPG

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.