TPG (NASDAQ:TPG) Price Target Raised to $63.00 at TD Cowen

TPG (NASDAQ:TPG) had its target price lifted by TD Cowen from $60.00 to $63.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the stock.

TPG has been the subject of several other reports. BMO Capital Markets started coverage on shares of TPG in a report on Friday, October 3rd. They issued an “outperform” rating and a $65.00 price objective for the company. Cowen restated a “hold” rating on shares of TPG in a research report on Wednesday. UBS Group lifted their price target on TPG from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley increased their price objective on TPG from $58.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Finally, Zacks Research lowered TPG from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.58.

TPG Trading Up 0.5%

Shares of TPG opened at $65.75 on Wednesday. The business has a 50-day moving average of $62.05 and a 200 day moving average of $59.51. TPG has a fifty-two week low of $37.52 and a fifty-two week high of $70.38. The firm has a market cap of $24.86 billion, a P/E ratio of 730.56, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.35 and a current ratio of 0.35.

TPG (NASDAQ:TPG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). The business had revenue of $509.40 million for the quarter, compared to analysts’ expectations of $510.32 million. TPG had a net margin of 2.83% and a return on equity of 25.79%. TPG’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. As a group, research analysts forecast that TPG will post 2.52 EPS for the current year.

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 14th were issued a $0.45 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. TPG’s dividend payout ratio (DPR) is presently 2,000.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in TPG during the second quarter valued at approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of TPG by 268.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock valued at $38,000 after buying an additional 524 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of TPG by 252.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 790 shares of the company’s stock worth $45,000 after acquiring an additional 566 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of TPG by 55.7% during the 2nd quarter. GAMMA Investing LLC now owns 945 shares of the company’s stock worth $50,000 after acquiring an additional 338 shares during the last quarter. Finally, Optiver Holding B.V. purchased a new position in TPG in the third quarter worth $51,000. 94.03% of the stock is currently owned by institutional investors.

About TPG

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.