TPG (NASDAQ:TPG) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

TPG (NASDAQ:TPG) released its earnings results on Tuesday. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02), Zacks reports. TPG had a return on equity of 25.79% and a net margin of 1.60%.The business had revenue of $596.50 million for the quarter, compared to analysts’ expectations of $510.32 million. During the same quarter in the prior year, the business posted $0.45 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year.

TPG Stock Down 2.7%

TPG stock traded down $1.47 during midday trading on Tuesday, reaching $53.34. The company’s stock had a trading volume of 2,688,919 shares, compared to its average volume of 1,694,660. TPG has a fifty-two week low of $37.52 and a fifty-two week high of $72.98. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45. The company has a market cap of $20.16 billion, a P/E ratio of -280.74, a P/E/G ratio of 1.00 and a beta of 1.52. The business has a 50-day simple moving average of $58.67 and a 200-day simple moving average of $54.86.

TPG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were paid a $0.59 dividend. This is a boost from TPG’s previous quarterly dividend of $0.41. This represents a $2.36 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Monday, August 18th. TPG’s payout ratio is -1,242.11%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TPG shares. JPMorgan Chase & Co. upgraded shares of TPG from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $65.00 to $78.00 in a research report on Monday, October 6th. Bank of America boosted their price target on shares of TPG from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. BNP Paribas upgraded TPG to a “strong-buy” rating in a research report on Wednesday, July 30th. Evercore ISI boosted their target price on TPG from $52.00 to $60.00 and gave the stock an “in-line” rating in a research report on Friday, August 8th. Finally, Zacks Research cut TPG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.64.

Hedge Funds Weigh In On TPG

Several large investors have recently bought and sold shares of TPG. Darlington Partners Capital Management LP acquired a new position in TPG in the second quarter valued at $258,581,000. Balyasny Asset Management L.P. acquired a new position in TPG in the second quarter valued at $54,088,000. Goldman Sachs Group Inc. boosted its stake in TPG by 4,109.1% in the first quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock valued at $27,083,000 after acquiring an additional 557,438 shares in the last quarter. State Street Corp boosted its stake in shares of TPG by 33.1% during the second quarter. State Street Corp now owns 2,062,638 shares of the company’s stock worth $108,185,000 after buying an additional 512,834 shares during the period. Finally, Holocene Advisors LP acquired a new position in TPG in the 2nd quarter valued at about $26,017,000. Institutional investors and hedge funds 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.