TPG (NASDAQ:TPG) Price Target Raised to $60.00

TPG (NASDAQ:TPG) had its price target increased by Evercore ISI from $46.00 to $60.00 in a research report report published on Monday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Several other analysts also recently weighed in on TPG. JPMorgan Chase & Co. upped their price target on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. TD Cowen reduced 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. Morgan Stanley boosted their target price on TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. The Goldman Sachs Group raised their target price on shares of TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company upped their price objective on TPG from $60.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.25.

TPG Stock Performance

Shares of TPG stock opened at $62.27 on Monday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $53.90 and a 200 day simple moving average of $47.15. TPG has a 12-month low of $26.62 and a 12-month high of $62.47.

TPG (NASDAQ:TPG) last released its earnings results 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. TPG had a return on equity of 24.27% and a net margin of 1.08%. The business had revenue of $744.19 million during the quarter, compared to the consensus estimate of $449.34 million. During the same period last year, the business posted $0.26 earnings per share. Sell-side analysts expect that TPG will post 1.99 earnings per share for the current fiscal year.

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.42 dividend. This is a positive change from TPG’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 2.70%. The ex-dividend date was Friday, August 16th. TPG’s dividend payout ratio (DPR) is presently -479.99%.

Institutional Investors Weigh In On TPG

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of TPG in the second quarter valued at $25,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of TPG during the 1st quarter worth $112,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in TPG in the first quarter valued at $151,000. MQS Management LLC acquired a new position in shares of TPG during the 1st quarter worth about $201,000. Finally, Virtu Financial LLC acquired a new stake in shares of TPG during the 4th quarter worth about $203,000. Hedge funds and other institutional investors own 86.79% of the company’s stock.

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.