TPG (NASDAQ:TPG) Given New $83.00 Price Target at Wells Fargo & Company

TPG (NASDAQ:TPG) had its price target raised by Wells Fargo & Company from $68.00 to $83.00 in a report released on Thursday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

TPG has been the subject of a number of other research reports. Morgan Stanley lifted their price objective on shares of TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. TD Cowen decreased their price target on shares of TPG from $62.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. BMO Capital Markets boosted their price objective on shares of TPG from $45.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group raised their target price on shares of TPG from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on TPG from $67.00 to $69.00 and gave the company a “buy” rating in a report on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $60.08.

TPG Stock Performance

Shares of TPG stock opened at $66.88 on Thursday. TPG has a one year low of $38.20 and a one year high of $72.98. The company’s 50-day simple moving average is $66.58 and its 200-day simple moving average is $54.23. 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 announced its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $855.40 million for the quarter, compared to analysts’ expectations of $449.98 million. TPG had a return on equity of 23.45% and a net margin of 0.69%. During the same quarter in the prior year, the firm posted $0.56 earnings per share. As a group, research analysts forecast that TPG will post 1.95 earnings per share for the current year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Thursday, November 14th. TPG’s dividend payout ratio (DPR) is -447.05%.

Institutional Trading of TPG

Several hedge funds have recently added to or reduced their stakes in TPG. Lord Abbett & CO. LLC increased its stake in TPG by 146.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company’s stock valued at $96,166,000 after buying an additional 992,818 shares during the period. Franklin Resources Inc. boosted its holdings in shares of TPG by 10.1% in the third quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company’s stock valued at $161,921,000 after acquiring an additional 244,373 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of TPG by 7.7% during the third quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock valued at $83,023,000 after acquiring an additional 102,663 shares during the period. Barclays PLC raised its holdings in TPG by 14,739.3% during the third quarter. Barclays PLC now owns 602,029 shares of the company’s stock worth $34,652,000 after purchasing an additional 597,972 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new stake in TPG in the third quarter worth approximately $461,000. Institutional investors own 94.03% 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.