Wall Street Zen upgraded shares of TPG (NASDAQ:TPG – Free Report) from a sell rating to a hold rating in a report published on Sunday morning.
Several other research firms have also commented on TPG. Citigroup restated an “outperform” rating on shares of TPG in a research report on Thursday, July 9th. TD Cowen cut their price objective on TPG from $48.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft set a $55.00 target price on TPG in a research note on Monday, May 4th. BMO Capital Markets lowered their target price on TPG from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Finally, Weiss Ratings raised TPG from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, TPG currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.
View Our Latest Analysis on TPG
TPG Stock Performance
TPG (NASDAQ:TPG – Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.09. The firm had revenue of $557.18 million during 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 firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. As a group, equities research analysts predict that TPG will post 2.83 EPS for the current year.
TPG Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Shareholders of record on Monday, May 11th were issued a dividend of $0.59 per share. The ex-dividend date was Monday, May 11th. This represents a $2.36 dividend on an annualized basis and a yield of 5.4%. TPG’s dividend payout ratio is 1,072.73%.
Hedge Funds Weigh In On TPG
Institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. increased its position in shares of TPG by 12.1% during the second quarter. Osaic Holdings Inc. now owns 2,173 shares of the company’s stock worth $114,000 after purchasing an additional 234 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of TPG by 3.1% in the 2nd quarter. Lazard Asset Management LLC now owns 7,828 shares of the company’s stock valued at $410,000 after purchasing an additional 238 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its position in shares of TPG by 2.5% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 10,253 shares of the company’s stock valued at $589,000 after purchasing an additional 253 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of TPG by 38.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 992 shares of the company’s stock valued at $57,000 after purchasing an additional 273 shares during the period. Finally, CWM LLC grew its stake in TPG by 22.2% during the 4th quarter. CWM LLC now owns 1,500 shares of the company’s stock worth $96,000 after buying an additional 273 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.
About TPG
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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