TPG (NASDAQ:TPG) Rating Increased to Strong-Buy at BMO Capital Markets

TPG (NASDAQ:TPG) was upgraded by BMO Capital Markets to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Several other brokerages have also commented on TPG. JPMorgan Chase & Co. upped their price objective on shares of TPG from $56.00 to $65.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Wolfe Research initiated coverage on shares of TPG in a report on Friday, June 20th. They issued an “outperform” rating and a $60.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of TPG from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, July 11th. BNP Paribas upgraded shares of TPG to a “strong-buy” rating in a report on Wednesday, July 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of TPG in a report on Saturday, September 27th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, TPG currently has an average rating of “Moderate Buy” and a consensus price target of $62.07.

TPG Stock Performance

NASDAQ:TPG opened at $58.51 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $22.11 billion, a price-to-earnings ratio of -307.95, a PEG ratio of 1.18 and a beta of 1.53. The company’s 50-day moving average is $60.30 and its two-hundred day moving average is $53.21. TPG has a 1-year low of $37.52 and a 1-year high of $72.98.

TPG (NASDAQ:TPG) last posted its earnings results on Wednesday, August 6th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.24. The company had revenue of $495.12 million for the quarter, compared to analyst estimates of $470.57 million. TPG had a net margin of 1.60% and a return on equity of 25.79%. TPG’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. Analysts forecast that TPG will post 2.52 EPS for the current year.

Insiders Place Their Bets

In related news, Director Deborah M. Messemer sold 1,796 shares of the company’s stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total transaction of $101,150.72. Following the sale, the director directly owned 16,807 shares of the company’s stock, valued at $946,570.24. This represents a 9.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 69.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TPG

Large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. increased its stake in TPG by 27.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,250 shares of the company’s stock worth $1,396,000 after buying an additional 6,267 shares during the period. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of TPG in the 1st quarter valued at approximately $237,000. Cresset Asset Management LLC purchased a new stake in shares of TPG in the 1st quarter valued at approximately $216,000. Sumitomo Mitsui Trust Group Inc. increased its position in shares of TPG by 62.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company’s stock valued at $360,000 after purchasing an additional 2,913 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of TPG by 28.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,201,727 shares of the company’s stock valued at $104,428,000 after purchasing an additional 481,418 shares during the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

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.