Wall Street Zen cut shares of TPG (NASDAQ:TPG – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.
Several other equities research analysts have also issued reports on TPG. Barclays increased their target price on shares of TPG from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Citizens Jmp dropped their price target on shares of TPG from $75.00 to $68.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft set a $55.00 price objective on shares of TPG in a research note on Monday, May 4th. BMO Capital Markets lowered their target price on shares of TPG from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Finally, TD Cowen lowered their target price on shares of TPG from $48.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.40.
View Our Latest Stock Report on TPG
TPG Price Performance
TPG (NASDAQ:TPG – Get Free Report) last issued its earnings results on Friday, May 1st. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. The firm had revenue of $557.18 million for the quarter, compared to the consensus estimate of $608.07 million. TPG had a net margin of 3.81% and a return on equity of 28.13%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Analysts expect that TPG will post 2.85 EPS for the current fiscal year.
TPG Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were given a dividend of $0.59 per share. The ex-dividend date was Monday, May 11th. This represents a $2.36 annualized dividend and a dividend yield of 5.4%. TPG’s dividend payout ratio (DPR) is presently 1,072.73%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in TPG. CX Institutional increased its holdings in shares of TPG by 481.4% in the second quarter. CX Institutional now owns 657 shares of the company’s stock worth $27,000 after purchasing an additional 544 shares during the last quarter. International Assets Investment Management LLC bought a new stake in TPG in the 4th quarter worth approximately $38,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in TPG by 268.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock worth $38,000 after acquiring an additional 524 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of TPG by 2,496.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 675 shares of the company’s stock worth $43,000 after acquiring an additional 649 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of TPG by 252.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 790 shares of the company’s stock worth $45,000 after acquiring an additional 566 shares in the last quarter. Institutional investors own 94.03% of the company’s stock.
TPG Company Profile
TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.
TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.
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