TPG (NASDAQ:TPG) Given New $62.00 Price Target at Evercore ISI

TPG (NASDAQ:TPG) had its price objective boosted by Evercore ISI from $55.00 to $62.00 in a research report sent to investors on Thursday morning, MarketBeat reports. They currently have an in-line rating on the stock.

A number of other brokerages also recently commented on TPG. Wolfe Research reissued an “outperform” rating and issued a $80.00 price target on shares of TPG in a report on Wednesday, January 7th. JPMorgan Chase & Co. cut their target price on TPG from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of TPG in a research note on Monday, December 29th. Bank of America lifted their price target on shares of TPG from $65.00 to $69.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $80.00 price target on shares of TPG in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.75.

TPG Price Performance

TPG opened at $63.02 on Thursday. TPG has a twelve month low of $37.52 and a twelve month high of $70.38. The firm has a market cap of $23.83 billion, a price-to-earnings ratio of 700.22, a PEG ratio of 0.97 and a beta of 1.51. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $63.10 and a 200 day simple moving average of $59.96.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.02). The firm had revenue of $509.40 million during the quarter, compared to analyst estimates of $510.32 million. TPG had a return on equity of 25.79% and a net margin of 2.83%.The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.45 EPS. Equities research analysts expect that TPG will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 14th were given a dividend of $0.45 per share. The ex-dividend date was Friday, November 14th. This represents a $1.80 annualized dividend and a dividend yield of 2.9%. TPG’s dividend payout ratio is currently 2,000.00%.

Institutional Investors Weigh In On TPG

A number of hedge funds and other institutional investors have recently modified their holdings of TPG. Public Employees Retirement System of Ohio grew its position in TPG by 52.2% during the second quarter. Public Employees Retirement System of Ohio now owns 40,825 shares of the company’s stock worth $2,141,000 after buying an additional 13,998 shares in the last quarter. Clear Harbor Asset Management LLC lifted its position in shares of TPG by 84.9% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 142,372 shares of the company’s stock valued at $8,179,000 after acquiring an additional 65,387 shares during the period. Cerity Partners LLC grew its holdings in shares of TPG by 195.1% during the 3rd quarter. Cerity Partners LLC now owns 206,266 shares of the company’s stock worth $11,850,000 after purchasing an additional 136,374 shares in the last quarter. Boston Partners bought a new position in shares of TPG in the second quarter worth $8,461,000. Finally, New York State Common Retirement Fund raised its stake in TPG by 42.1% in the second quarter. New York State Common Retirement Fund now owns 69,162 shares of the company’s stock valued at $3,628,000 after purchasing an additional 20,500 shares in the last quarter. 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.