TPG (NASDAQ:TPG) Research Coverage Started at Royal Bank Of Canada

Royal Bank Of Canada started coverage on shares of TPG (NASDAQ:TPG) in a research note published on Monday, MarketBeat.com reports. The brokerage issued an outperform rating and a $59.00 target price on the stock.

A number of other equities analysts have also weighed in on TPG. Morgan Stanley set a $67.00 price target on shares of TPG in a report on Tuesday, January 27th. Evercore set a $56.00 target price on TPG in a report on Friday, February 6th. Citigroup upgraded TPG to an “outperform” rating in a research note on Monday, February 9th. The Goldman Sachs Group restated a “buy” rating and issued a $80.00 price objective on shares of TPG in a report on Tuesday, January 6th. Finally, TD Cowen reiterated a “hold” rating on shares of TPG in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.67.

TPG Stock Up 3.8%

Shares of NASDAQ TPG opened at $44.68 on Monday. TPG has a 12-month low of $37.52 and a 12-month high of $70.38. The company has a market capitalization of $16.89 billion, a PE ratio of 101.55, a price-to-earnings-growth ratio of 0.58 and a beta of 1.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The firm’s 50-day moving average is $59.20 and its two-hundred day moving average is $59.24.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.20. TPG had a net margin of 3.95% and a return on equity of 26.02%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $548.40 million. During the same period last year, the company posted $0.62 EPS. The company’s revenue was up 35.6% on a year-over-year basis. Equities analysts anticipate that TPG will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 19th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 5.5%. This is an increase from TPG’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, February 19th. TPG’s dividend payout ratio is presently 554.55%.

Institutional Investors Weigh In On TPG

Institutional investors have recently made changes to their positions in the company. Darlington Partners Capital Management LP acquired a new stake in shares of TPG in the second quarter valued at about $258,581,000. Millennium Management LLC boosted its stake in TPG by 66.9% during the 4th quarter. Millennium Management LLC now owns 4,584,733 shares of the company’s stock valued at $292,689,000 after purchasing an additional 1,837,799 shares during the period. Norges Bank bought a new stake in TPG during the 4th quarter valued at approximately $106,755,000. Bank of America Corp DE grew its holdings in TPG by 72.7% in the 3rd quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock valued at $204,960,000 after buying an additional 1,501,808 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in TPG in the 2nd quarter worth approximately $54,088,000. 94.03% of the stock is currently owned by institutional investors and hedge funds.

TPG Company Profile

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.