Bank of America Issues Positive Forecast for TPG (NASDAQ:TPG) Stock Price

TPG (NASDAQ:TPG) had its price target hoisted by Bank of America from $65.00 to $69.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the stock.

TPG has been the subject of a number of other reports. Zacks Research raised shares of TPG from a “hold” rating to a “strong-buy” rating in a report on Monday, September 8th. Wolfe Research initiated coverage on shares of TPG in a report on Friday, June 20th. They set an “outperform” rating and a $60.00 price objective for the company. Evercore ISI boosted their price target on shares of TPG from $52.00 to $60.00 and gave the stock an “in-line” rating in a research note on Friday, August 8th. Wells Fargo & Company boosted their price target on shares of TPG from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Finally, BNP Paribas Exane raised shares of TPG from a “neutral” rating to an “outperform” rating and set a $69.00 price target for the company in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.07.

TPG Stock Performance

NASDAQ TPG opened at $58.51 on Friday. TPG has a 52-week low of $37.52 and a 52-week high of $72.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $22.11 billion, a P/E ratio of -307.95, a P/E/G ratio of 1.18 and a beta of 1.53. The company has a fifty day moving average of $60.30 and a 200-day moving average of $53.21.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.24. TPG had a net margin of 1.60% and a return on equity of 25.79%. The company had revenue of $495.12 million during the quarter, compared to the consensus estimate of $470.57 million. During the same period in the previous year, the firm posted $0.49 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts predict that TPG will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.59 dividend. The ex-dividend date was Monday, August 18th. This is a positive change from TPG’s previous quarterly dividend of $0.41. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.0%. TPG’s dividend payout ratio is presently -1,242.11%.

Insider Activity

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total value of $101,150.72. Following the transaction, the director owned 16,807 shares in the company, valued at approximately $946,570.24. The trade was a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 69.98% of the company’s stock.

Hedge Funds Weigh In On TPG

A number of hedge funds have recently modified their holdings of TPG. Darlington Partners Capital Management LP purchased a new position in shares of TPG in the second quarter valued at about $258,581,000. Temasek Holdings Private Ltd increased its position in shares of TPG by 114.2% during the first quarter. Temasek Holdings Private Ltd now owns 8,529,631 shares of the company’s stock valued at $404,560,000 after buying an additional 4,548,452 shares during the period. Wellington Management Group LLP increased its position in shares of TPG by 69.1% during the first quarter. Wellington Management Group LLP now owns 10,693,179 shares of the company’s stock valued at $507,177,000 after buying an additional 4,369,618 shares during the period. Vulcan Value Partners LLC purchased a new position in shares of TPG during the first quarter valued at about $86,332,000. Finally, Norges Bank purchased a new position in shares of TPG during the second quarter valued at about $83,794,000. Hedge funds and other 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.