Wells Fargo & Company Begins Coverage on TPG (NASDAQ:TPG)

Wells Fargo & Company began coverage on shares of TPG (NASDAQ:TPG) in a research report report published on Thursday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $60.00 price target on the stock.

A number of other equities research analysts have also weighed in on TPG. JPMorgan Chase & Co. boosted their price objective on shares of TPG from $44.00 to $49.00 and gave the company a neutral rating in a report on Wednesday, August 7th. TD Cowen cut their price objective on TPG from $44.00 to $42.00 and set a hold rating on the stock in a report on Monday, July 8th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $47.25.

TPG Stock Performance

Shares of NASDAQ TPG opened at $56.44 on Thursday. TPG has a fifty-two week low of $26.62 and a fifty-two week high of $56.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.25 and a quick ratio of 0.25. The business has a 50-day simple moving average of $47.98 and a two-hundred day simple moving average of $44.87.

TPG (NASDAQ:TPG) last released its earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. TPG had a net margin of 1.08% and a return on equity of 24.27%. The company had revenue of $744.19 million during the quarter, compared to analysts’ expectations of $449.34 million. During the same period last year, the business earned $0.26 EPS. On average, equities analysts forecast that TPG will post 2.01 EPS for the current year.

TPG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.42 dividend. 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 dividend on an annualized basis and a dividend yield of 2.98%. TPG’s dividend payout ratio is presently -1,199.91%.

Insider Buying and Selling

In other news, Director Deborah M. Messemer sold 4,089 shares of TPG stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $46.55, for a total transaction of $190,342.95. Following the completion of the transaction, the director now directly owns 17,536 shares of the company’s stock, valued at approximately $816,300.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 76.48% of the stock is owned by corporate insiders.

Institutional Trading of TPG

A number of hedge funds have recently added to or reduced their stakes in TPG. International Assets Investment Management LLC raised its holdings in TPG by 4,217.0% in the 4th quarter. International Assets Investment Management LLC now owns 25,902 shares of the company’s stock worth $1,118,000 after purchasing an additional 25,302 shares during the period. Truist Financial Corp purchased a new position in shares of TPG during the 4th quarter valued at approximately $203,000. Amalgamated Bank grew its stake in TPG by 32.9% in the 4th quarter. Amalgamated Bank now owns 18,801 shares of the company’s stock valued at $812,000 after acquiring an additional 4,659 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in TPG by 14.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,208 shares of the company’s stock worth $28,803,000 after acquiring an additional 84,891 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in TPG in the 4th quarter worth $294,000. 86.79% of the stock is owned by hedge funds and other institutional investors.

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.