TPG (NASDAQ:TPG) PT Raised to $60.00

TPG (NASDAQ:TPG) had its target price hoisted by equities researchers at The Goldman Sachs Group from $53.00 to $60.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 6.31% from the company’s previous close.

A number of other equities analysts have also weighed in on TPG. TD Cowen lowered their target price on TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Wells Fargo & Company assumed coverage on TPG in a research report on Thursday. They set an “overweight” rating and a $60.00 target price on the stock. Finally, JPMorgan Chase & Co. upped their target price on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.25.

TPG Stock Up 4.6 %

TPG stock opened at $56.44 on Friday. The stock’s 50 day moving average is $47.98 and its 200 day moving average is $44.87. The company has a quick ratio of 0.25, a current 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 $56.82.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.06. TPG had a return on equity of 24.27% and a net margin of 1.08%. The firm had revenue of $744.19 million for the quarter, compared to analyst estimates of $449.34 million. During the same period in the previous year, the firm earned $0.26 earnings per share. On average, research analysts anticipate that TPG will post 2.01 EPS for the current fiscal year.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,089 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $46.55, for a total transaction of $190,342.95. Following the transaction, the director now owns 17,536 shares of the company’s stock, valued at approximately $816,300.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 76.48% of the company’s stock.

Institutional Trading of TPG

A number of institutional investors have recently added to or reduced their stakes in TPG. Vanguard Group Inc. raised its holdings in shares of TPG by 21.6% in the 1st quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock valued at $328,826,000 after acquiring an additional 1,305,799 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of TPG by 5.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock valued at $278,161,000 after acquiring an additional 366,306 shares in the last quarter. Capital International Investors raised its holdings in shares of TPG by 9.6% in the 1st quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock valued at $172,581,000 after acquiring an additional 336,665 shares in the last quarter. Millennium Management LLC raised its holdings in shares of TPG by 32.4% in the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock valued at $156,188,000 after acquiring an additional 922,571 shares in the last quarter. Finally, Putnam Investments LLC raised its holdings in shares of TPG by 8.6% in the 4th quarter. Putnam Investments LLC now owns 2,362,082 shares of the company’s stock valued at $101,971,000 after acquiring an additional 187,183 shares in the last quarter. Hedge funds and other institutional investors own 86.79% 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.