Morgan Stanley Increases TPG (NASDAQ:TPG) Price Target to $73.00

TPG (NASDAQ:TPG) had its target price hoisted by analysts at Morgan Stanley from $55.00 to $73.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target would indicate a potential upside of 20.58% from the company’s previous close.

A number of other analysts have also recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of TPG from $60.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen lowered their target price on TPG from $44.00 to $42.00 and set a “hold” rating for the company in a report on Monday, July 8th. JPMorgan Chase & Co. lifted their price target on TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their price target on TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.55.

TPG Price Performance

TPG stock opened at $60.54 on Thursday. The company’s 50-day moving average price is $52.82 and its two-hundred day moving average price is $46.79. TPG has a 12 month low of $26.62 and a 12 month high of $61.41. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37. The firm has a market cap of $22.08 billion, a P/E ratio of -432.43, a P/E/G ratio of 0.98 and a beta of 1.53.

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

Insider Buying and Selling at TPG

In other news, Director Deborah M. Messemer sold 4,089 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $46.55, for a total value of $190,342.95. Following the transaction, the director now owns 17,536 shares in the company, valued at approximately $816,300.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 76.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Creative Planning grew its stake in TPG by 55.5% during the third quarter. Creative Planning now owns 10,784 shares of the company’s stock worth $621,000 after purchasing an additional 3,851 shares during the period. Ritholtz Wealth Management acquired a new position in TPG in the third quarter valued at approximately $222,000. Ghisallo Capital Management LLC bought a new position in shares of TPG during the 2nd quarter worth approximately $5,181,000. Algert Global LLC acquired a new stake in shares of TPG during the 2nd quarter worth approximately $290,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of TPG by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,773 shares of the company’s stock valued at $820,000 after acquiring an additional 2,313 shares in the last quarter. 86.79% of the stock is owned by 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.