TPG (NASDAQ:TPG) Upgraded at Zacks Research

Zacks Research upgraded shares of TPG (NASDAQ:TPG) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other equities analysts have also recently weighed in on TPG. Citigroup raised their price target on TPG from $56.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, July 10th. BNP Paribas Exane raised shares of TPG from a “neutral” rating to an “outperform” rating and set a $69.00 target price for the company in a report on Wednesday, July 30th. The Goldman Sachs Group boosted their price target on shares of TPG from $61.00 to $69.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Evercore ISI upped their price target on shares of TPG from $52.00 to $60.00 and gave the company an “in-line” rating in a research note on Friday, August 8th. Finally, BNP Paribas raised shares of TPG to a “strong-buy” rating in a research note on Wednesday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.57.

TPG Stock Up 1.7%

Shares of TPG stock opened at $59.97 on Monday. The company’s fifty day simple moving average is $58.50 and its two-hundred day simple moving average is $52.06. TPG has a 52 week low of $37.52 and a 52 week high of $72.98. The stock has a market cap of $22.66 billion, a P/E ratio of -315.63, a PEG ratio of 1.23 and a beta of 1.56. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.24. The firm had revenue of $495.12 million during the quarter, compared to analyst estimates of $470.57 million. TPG had a return on equity of 25.79% and a net margin of 1.60%.The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. Analysts predict that TPG will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 3.9%. This is a boost from TPG’s previous quarterly dividend of $0.41. The ex-dividend date was Monday, August 18th. TPG’s dividend payout ratio (DPR) is presently -1,242.11%.

Insider Activity at TPG

In other news, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total value of $101,150.72. Following the sale, the director directly owned 16,807 shares in the company, valued at approximately $946,570.24. This represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 69.98% of the company’s stock.

Hedge Funds Weigh In On TPG

A number of large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in TPG by 27.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,250 shares of the company’s stock worth $1,396,000 after purchasing an additional 6,267 shares during the period. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of TPG during the first quarter valued at $237,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of TPG by 62.3% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company’s stock worth $360,000 after purchasing an additional 2,913 shares during the last quarter. Cresset Asset Management LLC purchased a new position in TPG in the 1st quarter worth about $216,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in TPG by 28.0% during 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 buying an additional 481,418 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

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.