TPG (NASDAQ:TPG) Price Target Lowered to $66.00 at Wells Fargo & Company

TPG (NASDAQ:TPG) had its price objective trimmed by Wells Fargo & Company from $78.00 to $66.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also weighed in on TPG. Keefe, Bruyette & Woods increased their price target on shares of TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Evercore ISI increased their price objective on TPG from $65.00 to $66.00 and gave the company an “in-line” rating in a report on Wednesday, February 12th. BMO Capital Markets increased their price objective on TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. 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 five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $63.18.

TPG Stock Performance

TPG stock opened at $50.49 on Thursday. The firm has a market cap of $18.65 billion, a PE ratio of -114.75, a P/E/G ratio of 0.80 and a beta of 1.54. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average of $58.94 and a 200-day moving average of $61.72. TPG has a 12-month low of $39.18 and a 12-month high of $72.98.

TPG (NASDAQ:TPG) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. As a group, sell-side analysts expect that TPG will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a $0.53 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.12 annualized dividend and a yield of 4.20%. This is an increase from TPG’s previous quarterly dividend of $0.38. TPG’s dividend payout ratio (DPR) is currently -481.82%.

Insider Activity

In related news, Director Deborah M. Messemer sold 1,695 shares of TPG stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $61.91, for a total transaction of $104,937.45. Following the completion of the sale, the director now owns 15,841 shares of the company’s stock, valued at approximately $980,716.31. This trade represents a 9.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 76.48% of the stock is owned by company insiders.

Institutional Investors Weigh In On TPG

Large investors have recently added to or reduced their stakes in the business. ORG Wealth Partners LLC bought a new stake in shares of TPG during the 4th quarter valued at about $33,000. Fourth Dimension Wealth LLC purchased a new position in TPG in the 4th quarter worth approximately $67,000. Comerica Bank raised its position in shares of TPG by 71.4% during the 4th quarter. Comerica Bank now owns 1,080 shares of the company’s stock valued at $68,000 after buying an additional 450 shares in the last quarter. R Squared Ltd bought a new stake in shares of TPG during the 4th quarter worth $97,000. Finally, KBC Group NV grew its position in TPG by 25.1% in the third quarter. KBC Group NV now owns 2,405 shares of the company’s stock worth $138,000 after acquiring an additional 482 shares in the last quarter. Institutional investors own 94.03% of the company’s stock.

About TPG

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.