TPG (NASDAQ:TPG) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research started coverage on shares of TPG (NASDAQ:TPG) in a research note released on Friday morning, MarketBeat.com reports. The firm issued an outperform rating and a $60.00 price target on the stock.

Several other equities analysts have also recently issued reports on the company. UBS Group decreased their price target on TPG from $72.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. TD Cowen lowered their price objective on shares of TPG from $65.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Bank of America dropped their target price on TPG from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Wells Fargo & Company boosted their price target on shares of TPG from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, May 23rd. Finally, Citigroup cut their price objective on TPG from $72.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.23.

TPG Stock Performance

TPG opened at $50.54 on Friday. The stock has a market cap of $18.68 billion, a PE ratio of -153.15, a P/E/G ratio of 1.06 and a beta of 1.55. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $48.09 and its 200-day simple moving average is $54.91. TPG has a 1 year low of $37.52 and a 1 year high of $72.98.

TPG (NASDAQ:TPG) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The company had revenue of $476.26 million during the quarter, compared to the consensus estimate of $459.75 million. TPG had a net margin of 0.90% and a return on equity of 24.47%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. Sell-side analysts forecast that TPG will post 2.52 EPS for the current year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $0.41 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.64 annualized dividend and a yield of 3.24%. TPG’s dividend payout ratio (DPR) is presently -496.97%.

Insider Activity

In other TPG news, major shareholder Samantha Holloway sold 21,000,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $46.57, for a total transaction of $977,970,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 69.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in TPG by 132.3% in the first quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $30,000 after buying an additional 369 shares in the last quarter. Versant Capital Management Inc raised its holdings in TPG by 12,263.6% in the 1st quarter. Versant Capital Management Inc now owns 1,360 shares of the company’s stock valued at $65,000 after buying an additional 1,349 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new stake in TPG during the 4th quarter worth approximately $67,000. Comerica Bank increased its position in TPG by 71.4% in the 4th quarter. Comerica Bank now owns 1,080 shares of the company’s stock valued at $68,000 after acquiring an additional 450 shares during the period. Finally, Signaturefd LLC raised its stake in shares of TPG by 27.0% during the first quarter. Signaturefd LLC now owns 1,443 shares of the company’s stock valued at $68,000 after acquiring an additional 307 shares during the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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.