Citigroup Has Lowered Expectations for TPG (NASDAQ:TPG) Stock Price

TPG (NASDAQ:TPG) had its target price reduced by Citigroup from $72.00 to $56.00 in a report published on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on TPG. The Goldman Sachs Group lowered their price target on TPG from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. BMO Capital Markets upped their price objective on shares of TPG from $60.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their target price on shares of TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Evercore ISI increased their price target on shares of TPG from $65.00 to $66.00 and gave the stock an “in-line” rating in a report on Wednesday, February 12th. Finally, JMP Securities restated a “market perform” rating on shares of TPG in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.85.

TPG Trading Down 4.6 %

NASDAQ:TPG opened at $39.68 on Tuesday. The company has a market capitalization of $14.66 billion, a PE ratio of -90.18, a P/E/G ratio of 0.80 and a beta of 1.58. TPG has a 52-week low of $37.52 and a 52-week high of $72.98. The stock’s 50 day moving average price is $53.40 and its 200 day moving average price is $61.13. 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 announced its earnings results on Tuesday, February 11th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. TPG had a net margin of 0.67% and a return on equity of 24.66%. On average, research analysts anticipate that TPG will post 2.52 EPS for the current year.

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.34%. This is a boost from TPG’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 21st. TPG’s dividend payout ratio (DPR) is -481.82%.

Insider Transactions at TPG

In other news, Director Deborah M. Messemer sold 1,695 shares of the firm’s 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 sale, the director now owns 15,841 shares in the company, valued at $980,716.31. This trade represents a 9.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Bradford Berenson sold 2,509 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total value of $125,550.36. Following the completion of the transaction, the general counsel now owns 290,841 shares of the company’s stock, valued at $14,553,683.64. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 76.48% of the company’s stock.

Institutional Trading of TPG

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPG. Capital World Investors boosted its position in shares of TPG by 484.6% in the fourth quarter. Capital World Investors now owns 3,065,321 shares of the company’s stock worth $192,625,000 after acquiring an additional 2,541,013 shares during the last quarter. Norges Bank purchased a new position in TPG during the fourth quarter worth approximately $100,675,000. JPMorgan Chase & Co. boosted its holdings in shares of TPG by 2,515.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company’s stock valued at $104,296,000 after purchasing an additional 1,596,254 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in shares of 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. Finally, Millennium Management LLC increased its holdings in shares of TPG by 66.8% during the 4th quarter. Millennium Management LLC now owns 2,243,815 shares of the company’s stock worth $141,001,000 after buying an additional 898,943 shares during the last quarter. Hedge funds and other 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.