TPG (NASDAQ:TPG) Given New $63.00 Price Target at The Goldman Sachs Group

TPG (NASDAQ:TPG) had its target price increased by investment analysts at The Goldman Sachs Group from $60.00 to $63.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 7.91% from the stock’s current price.

Several other brokerages also recently weighed in on TPG. Wells Fargo & Company initiated coverage on shares of TPG in a research note on Thursday, September 12th. They set an “overweight” rating and a $60.00 target price for the company. TD Cowen decreased their price objective on TPG from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Finally, JPMorgan Chase & Co. boosted their target price on TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. 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, TPG presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

TPG Stock Performance

NASDAQ:TPG traded down $0.09 during mid-day trading on Thursday, reaching $58.38. 95,171 shares of the stock were exchanged, compared to its average volume of 843,355. The stock has a market capitalization of $21.30 billion, a P/E ratio of -415.47, a P/E/G ratio of 0.99 and a beta of 1.52. TPG has a 1 year low of $26.62 and a 1 year high of $60.35. The company has a 50 day simple moving average of $51.32 and a 200-day simple moving average of $46.09. 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 (NASDAQ:TPG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. TPG had a net margin of 1.08% and a return on equity of 24.27%. The firm had revenue of $744.19 million during the quarter, compared to the consensus estimate of $449.34 million. During the same quarter in the prior year, the firm earned $0.26 EPS. Analysts anticipate that TPG will post 2.01 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Deborah M. Messemer sold 4,089 shares of TPG 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 completion of the transaction, the director now directly owns 17,536 shares of the company’s stock, valued at $816,300.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 76.48% of the company’s stock.

Hedge Funds Weigh In On TPG

Several hedge funds have recently added to or reduced their stakes in TPG. International Assets Investment Management LLC purchased a new stake in shares of TPG in the second quarter valued at about $25,000. YHB Investment Advisors Inc. acquired a new position in shares of TPG during the 1st quarter worth approximately $32,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in TPG in the 1st quarter valued at approximately $112,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in TPG during the 1st quarter valued at $151,000. Finally, MQS Management LLC purchased a new position in TPG during the first quarter worth $201,000. 86.79% of the stock is currently 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.