TPG (NASDAQ:TPG) Hits New 12-Month High Following Analyst Upgrade

TPG Inc. (NASDAQ:TPG)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Evercore ISI raised their price target on the stock from $46.00 to $60.00. Evercore ISI currently has an in-line rating on the stock. TPG traded as high as $61.48 and last traded at $61.35, with a volume of 261364 shares trading hands. The stock had previously closed at $60.41.

Other equities analysts have also issued research reports about the company. Morgan Stanley lifted their price target on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group boosted their target price on TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company raised their price target on shares of TPG from $60.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. TD Cowen lowered their price objective 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, JPMorgan Chase & Co. raised their target price 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. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, TPG currently has an average rating of “Hold” and an average price target of $52.25.

Institutional Trading of TPG

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Capital LLC boosted its stake in shares of TPG by 20.0% in the 3rd quarter. Renaissance Capital LLC now owns 90,618 shares of the company’s stock valued at $5,216,000 after purchasing an additional 15,131 shares during the last quarter. Creative Planning boosted its position in TPG by 55.5% during the third quarter. Creative Planning now owns 10,784 shares of the company’s stock valued at $621,000 after acquiring an additional 3,851 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in TPG during the 3rd quarter worth about $222,000. Ghisallo Capital Management LLC acquired a new position in shares of TPG in the 2nd quarter valued at about $5,181,000. Finally, Algert Global LLC bought a new stake in shares of TPG during the 2nd quarter valued at about $290,000. Institutional investors and hedge funds own 86.79% of the company’s stock.

TPG Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25. The firm has a 50 day moving average of $53.90 and a 200 day moving average of $47.15.

TPG (NASDAQ:TPG) last released its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $744.19 million for 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 quarter in the previous year, the company earned $0.26 EPS. As a group, research analysts predict that TPG Inc. will post 1.99 EPS for the current fiscal year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, August 16th. This is an increase from TPG’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 2.70%. TPG’s dividend payout ratio (DPR) is currently -479.99%.

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.