TPG (NASDAQ:TPG) Price Target Raised to $73.00

TPG (NASDAQ:TPG) had its target price increased by BMO Capital Markets from $60.00 to $73.00 in a research note released on Thursday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

A number of other brokerages have also issued reports on TPG. Deutsche Bank Aktiengesellschaft boosted their price target on TPG from $67.00 to $69.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company upped their target price on TPG from $68.00 to $83.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. The Goldman Sachs Group raised their price target on TPG from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Evercore ISI upped their price objective on shares of TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Finally, Morgan Stanley raised their target price on shares of TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Seven 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.00.

TPG Stock Performance

TPG stock opened at $64.82 on Thursday. TPG has a twelve month low of $38.20 and a twelve month high of $72.98. The firm has a market cap of $23.66 billion, a price-to-earnings ratio of -190.64, a PEG ratio of 1.11 and a beta of 1.46. The business’s fifty day simple moving average is $67.11 and its two-hundred day simple moving average is $54.96. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.39.

TPG (NASDAQ:TPG) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.45%. During the same quarter last year, the firm posted $0.56 EPS. Analysts predict that TPG will post 1.95 earnings per share for the current year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were paid a $0.38 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.52 annualized dividend and a yield of 2.34%. TPG’s dividend payout ratio (DPR) is -447.06%.

Hedge Funds Weigh In On TPG

Large investors have recently made changes to their positions in the business. Massachusetts Financial Services Co. MA grew its stake in TPG by 5.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock worth $278,161,000 after buying an additional 366,306 shares during the last quarter. Millennium Management LLC boosted its holdings in TPG by 32.4% in the second 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 in the last quarter. Franklin Resources Inc. grew its stake in shares of TPG by 10.1% during the third quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company’s stock worth $161,921,000 after acquiring an additional 244,373 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of TPG by 146.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company’s stock valued at $96,166,000 after acquiring an additional 992,818 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of TPG by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock valued at $83,023,000 after purchasing an additional 102,663 shares during the last quarter. 94.03% of the stock is owned by institutional investors and hedge funds.

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.