TPG (NASDAQ:TPG) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of TPG (NASDAQ:TPG) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. upgraded TPG from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $65.00 to $78.00 in a research report on Monday, October 6th. UBS Group set a $78.00 target price on TPG in a research report on Monday. Evercore ISI upped their price target on TPG from $52.00 to $60.00 and gave the stock an “in-line” rating in a research note on Friday, August 8th. BMO Capital Markets assumed coverage on TPG in a research note on Friday, October 3rd. They set an “outperform” rating and a $65.00 price target for the company. Finally, Bank of America upped their price target on TPG from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.14.

TPG Stock Performance

NASDAQ TPG opened at $54.91 on Wednesday. The business’s 50-day moving average price is $60.27 and its 200 day moving average price is $53.42. TPG has a twelve month low of $37.52 and a twelve month high of $72.98. The company has a market capitalization of $20.75 billion, a PE ratio of -289.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.53. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.45.

TPG (NASDAQ:TPG) last released its earnings results on Wednesday, August 6th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $470.57 million. During the same period in the prior year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, research analysts predict that TPG will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 18th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.3%. This is an increase from TPG’s previous quarterly dividend of $0.41. The ex-dividend date was Monday, August 18th. TPG’s payout ratio is -1,242.11%.

Insider Activity

In other news, Director Deborah M. Messemer sold 1,796 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $56.32, for a total value of $101,150.72. Following the completion of the sale, the director owned 16,807 shares in the company, valued at approximately $946,570.24. This trade represents a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 69.98% of the company’s stock.

Institutional Investors Weigh In On TPG

Hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in TPG by 27.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,250 shares of the company’s stock valued at $1,396,000 after purchasing an additional 6,267 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. bought a new position in TPG during the 1st quarter worth approximately $237,000. Cresset Asset Management LLC bought a new position in TPG during the 1st quarter worth approximately $216,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in TPG by 62.3% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,590 shares of the company’s stock worth $360,000 after buying an additional 2,913 shares during the last quarter. 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 worth $104,428,000 after buying an additional 481,418 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.