TPG (NASDAQ:TPG) Hits New 1-Year Low on Analyst Downgrade

TPG Inc. (NASDAQ:TPG) hit a new 52-week low on Friday after Bank of America lowered their price target on the stock from $72.00 to $68.00. Bank of America currently has a buy rating on the stock. TPG traded as low as $37.52 and last traded at $39.32, with a volume of 676412 shares changing hands. The stock had previously closed at $42.33.

TPG has been the subject of a number of other research reports. Wells Fargo & Company reduced their price objective on TPG from $78.00 to $66.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. The Goldman Sachs Group reduced their price target on TPG from $70.00 to $63.00 and set a “buy” rating for the company in a report on Thursday. Keefe, Bruyette & Woods upped their price target on shares of TPG from $62.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. Evercore ISI raised their price objective on shares of TPG from $65.00 to $66.00 and gave the company an “in-line” rating in a research note on Wednesday, February 12th. Finally, JMP Securities reiterated a “market perform” rating on shares of TPG in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, TPG currently has a consensus rating of “Hold” and a consensus price target of $62.42.

Insider Buying and Selling

In related news, General Counsel Bradford Berenson sold 2,509 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total transaction of $125,550.36. Following the completion of the sale, the general counsel now directly owns 290,841 shares in the company, valued at approximately $14,553,683.64. The trade was a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah M. Messemer sold 1,695 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $61.91, for a total transaction of $104,937.45. Following the sale, the director now directly owns 15,841 shares of the company’s stock, valued at approximately $980,716.31. This represents a 9.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 76.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TPG

A number of institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its position in TPG by 19.2% in the third quarter. The Manufacturers Life Insurance Company now owns 23,575 shares of the company’s stock worth $1,357,000 after buying an additional 3,802 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in TPG by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 322,991 shares of the company’s stock worth $18,591,000 after acquiring an additional 8,615 shares in the last quarter. Edgestream Partners L.P. bought a new stake in TPG during the 3rd quarter worth approximately $342,000. State Street Corp lifted its holdings in TPG by 5.0% during the third quarter. State Street Corp now owns 1,421,981 shares of the company’s stock valued at $81,849,000 after purchasing an additional 67,597 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in shares of TPG in the third quarter worth approximately $461,000. 94.03% of the stock is owned by institutional investors.

TPG Trading Down 3.2 %

The stock has a market capitalization of $15.14 billion, a PE ratio of -93.16, a PEG ratio of 0.80 and a beta of 1.58. The stock’s 50 day moving average price is $54.99 and its 200-day moving average price is $61.51. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36.

TPG (NASDAQ:TPG) last issued its earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.10. TPG had a net margin of 0.67% and a return on equity of 24.66%. On average, sell-side analysts expect that TPG Inc. will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.12 annualized dividend and a dividend yield of 5.17%. This is a boost from TPG’s previous quarterly dividend of $0.38. TPG’s dividend payout ratio (DPR) is currently -481.82%.

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.