Wells Fargo & Company Forecasts Strong Price Appreciation for TPG (NASDAQ:TPG) Stock

TPG (NASDAQ:TPG) had its target price raised by Wells Fargo & Company from $58.00 to $62.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 11.43% from the stock’s current price.

Several other equities analysts also recently issued reports on TPG. Bank of America cut their price objective on TPG from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Wolfe Research started coverage on shares of TPG in a research report on Friday, June 20th. They set an “outperform” rating and a $60.00 price target on the stock. 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. The Goldman Sachs Group reduced their target price on shares of TPG from $70.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Finally, Citigroup boosted their price objective on shares of TPG from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.77.

TPG Trading Down 0.6%

Shares of TPG opened at $55.64 on Friday. The stock has a 50 day simple moving average of $50.55 and a 200-day simple moving average of $53.42. 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 has a market cap of $20.56 billion, a PE ratio of -168.61, a PEG ratio of 1.19 and a beta of 1.55. TPG has a 1 year low of $37.52 and a 1 year high of $72.98.

TPG (NASDAQ:TPG) last issued its earnings results on Wednesday, May 7th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $476.26 million during the quarter, compared to analyst estimates of $459.75 million. TPG had a net margin of 0.90% and a return on equity of 24.47%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. On average, sell-side analysts predict that TPG will post 2.52 EPS for the current fiscal year.

Insider Activity at TPG

In related news, major shareholder Samantha Holloway sold 21,000,000 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total value of $977,970,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 69.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in TPG by 3,858.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,979 shares of the company’s stock worth $104,000 after purchasing an additional 1,929 shares during the period. Jackson Square Capital LLC acquired a new position in shares of TPG during the second quarter worth about $363,000. Parallel Advisors LLC raised its position in TPG by 43.8% in the 2nd quarter. Parallel Advisors LLC now owns 1,380 shares of the company’s stock valued at $72,000 after buying an additional 420 shares during the last quarter. Strs Ohio bought a new stake in TPG in the 1st quarter valued at approximately $1,057,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in TPG by 156.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company’s stock worth $22,941,000 after acquiring an additional 294,941 shares during the last quarter. 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.