TPG (NASDAQ:TPG) Upgraded to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of TPG (NASDAQ:TPG) from a neutral rating to an overweight rating in a report published on Monday, Marketbeat.com reports. The firm currently has $78.00 price target on the stock, up from their previous price target of $65.00.

Several other analysts also recently commented on the stock. Citigroup increased their price objective on shares of TPG from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. BNP Paribas Exane upgraded shares of TPG from a “neutral” rating to an “outperform” rating and set a $69.00 target price on the stock in a research note on Wednesday, July 30th. BNP Paribas raised shares of TPG to a “strong-buy” rating in a research report on Wednesday, July 30th. Wolfe Research began coverage on shares of TPG in a report on Friday, June 20th. They issued an “outperform” rating and a $60.00 price objective for the company. Finally, Bank of America upped their price objective on TPG from $65.00 to $69.00 and gave the company a “buy” rating in a research report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.14.

TPG Stock Up 0.0%

Shares of NASDAQ:TPG opened at $58.53 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45. The stock has a fifty day simple moving average of $60.31 and a two-hundred day simple moving average of $53.30. TPG has a 12-month low of $37.52 and a 12-month high of $72.98. The stock has a market capitalization of $22.12 billion, a price-to-earnings ratio of -308.05, a PEG ratio of 1.22 and a beta of 1.53.

TPG (NASDAQ:TPG) last released its earnings results on Wednesday, August 6th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.24. TPG had a return on equity of 25.79% and a net margin of 1.60%.The firm had revenue of $495.12 million for the quarter, compared to analysts’ expectations of $470.57 million. During the same period in the prior year, the firm posted $0.49 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, research analysts anticipate that TPG will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were given a $0.59 dividend. This is a boost from TPG’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, August 18th. This represents a $2.36 dividend on an annualized basis and a yield of 4.0%. TPG’s payout ratio is presently -1,242.11%.

Insiders Place Their Bets

In other news, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total transaction of $101,150.72. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 76.48% of the company’s stock.

Institutional Trading of TPG

A number of hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its holdings 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 acquiring an additional 369 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of TPG during the 2nd quarter valued at about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of TPG by 268.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock worth $38,000 after purchasing an additional 524 shares during the period. GAMMA Investing LLC boosted its holdings in shares of TPG by 55.7% in the second quarter. GAMMA Investing LLC now owns 945 shares of the company’s stock worth $50,000 after buying an additional 338 shares during the last quarter. Finally, MAI Capital Management grew its position in TPG by 572.3% during the second quarter. MAI Capital Management now owns 1,190 shares of the company’s stock valued at $62,000 after buying an additional 1,013 shares during the period. Hedge funds and other institutional investors 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.