TPG (NASDAQ:TPG) Reaches New 52-Week High Following Analyst Upgrade

TPG Inc. (NASDAQ:TPG)’s share price reached a new 52-week high during mid-day trading on Friday after The Goldman Sachs Group raised their price target on the stock from $60.00 to $63.00. The Goldman Sachs Group currently has a buy rating on the stock. TPG traded as high as $60.35 and last traded at $60.24, with a volume of 193410 shares traded. The stock had previously closed at $58.89.

Several other equities research analysts also recently weighed in on TPG. 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. Wells Fargo & Company began coverage on shares of TPG in a research report on Thursday, September 12th. They issued an “overweight” rating and a $60.00 price objective for the company. Finally, TD Cowen reduced their target price on shares of TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Monday, July 8th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Insider Transactions at TPG

In other news, Director Deborah M. Messemer sold 4,089 shares of TPG stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $46.55, for a total value of $190,342.95. Following the completion of the transaction, the director now owns 17,536 shares in the company, valued at approximately $816,300.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 76.48% of the company’s stock.

Institutional Trading of TPG

A number of institutional investors and hedge funds have recently modified their holdings of TPG. Ghisallo Capital Management LLC bought a new position in shares of TPG during the second quarter valued at approximately $5,181,000. Creative Planning lifted its stake in TPG by 25.0% in the second quarter. Creative Planning now owns 6,933 shares of the company’s stock valued at $287,000 after buying an additional 1,388 shares during the last quarter. Algert Global LLC acquired a new position in shares of TPG during the second quarter valued at $290,000. The Manufacturers Life Insurance Company grew its position in shares of TPG by 13.2% during the second quarter. The Manufacturers Life Insurance Company now owns 19,773 shares of the company’s stock worth $820,000 after acquiring an additional 2,313 shares during the last quarter. Finally, Millennium Management LLC increased 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 worth $156,188,000 after acquiring an additional 922,571 shares during the period. 86.79% of the stock is owned by institutional investors and hedge funds.

TPG Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25. The stock’s fifty day moving average is $51.52 and its two-hundred day moving average is $46.18. The firm has a market cap of $22.03 billion, a price-to-earnings ratio of -420.64, a PEG ratio of 0.99 and a beta of 1.53.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The business had revenue of $744.19 million during the quarter, compared to analyst estimates of $449.34 million. TPG had a return on equity of 24.27% and a net margin of 1.08%. During the same period in the prior year, the company posted $0.26 EPS. On average, analysts expect that TPG Inc. will post 2.01 earnings per share for the current fiscal year.

TPG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Friday, August 16th. This is a positive change from TPG’s previous quarterly dividend of $0.41. TPG’s dividend payout ratio is currently -1,200.00%.

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.