Wells Fargo & Company Forecasts Strong Price Appreciation for TPG (NASDAQ:TPG) Stock

TPG (NASDAQ:TPG) had its price objective raised by Wells Fargo & Company from $67.00 to $68.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

TPG has been the subject of a number of other reports. Evercore ISI boosted their price target on shares of TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their price target on shares of TPG from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen cut their target price on shares of TPG from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of TPG from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $57.50.

TPG Trading Down 2.0 %

Shares of TPG stock opened at $66.43 on Tuesday. The company’s fifty day simple moving average is $59.65 and its two-hundred day simple moving average is $49.64. The stock has a market capitalization of $24.24 billion, a price-to-earnings ratio of -195.38, a PEG ratio of 0.98 and a beta of 1.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.25 and a quick ratio of 0.25. TPG has a 1 year low of $30.54 and a 1 year high of $69.86.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. The firm had revenue of $855.40 million during the quarter, compared to analyst estimates of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.57%. During the same period in the previous year, the business earned $0.56 EPS. As a group, analysts anticipate that TPG will post 1.96 earnings per share for the current year.

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.52 annualized dividend and a yield of 2.29%. TPG’s payout ratio is -494.10%.

Institutional Trading of TPG

Several institutional investors have recently added to or reduced their stakes in TPG. Swiss National Bank raised its stake in shares of TPG by 45.2% during the first quarter. Swiss National Bank now owns 155,100 shares of the company’s stock valued at $6,933,000 after acquiring an additional 48,300 shares during the last quarter. Capital International Investors boosted its holdings in shares of TPG by 9.6% during the first quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock worth $172,581,000 after purchasing an additional 336,665 shares during the period. Seven Eight Capital LP purchased a new stake in shares of TPG during the first quarter worth about $935,000. Vanguard Group Inc. boosted its holdings in shares of TPG by 21.6% during the first quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock worth $328,826,000 after purchasing an additional 1,305,799 shares during the period. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of TPG during the second quarter worth about $1,057,000. 86.79% of the stock is currently owned by hedge funds and other institutional investors.

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.