TPG (NASDAQ:TPG) Given New $55.00 Price Target at The Goldman Sachs Group

TPG (NASDAQ:TPG) had its price target decreased by The Goldman Sachs Group from $80.00 to $55.00 in a research note published on Tuesday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other brokerages also recently commented on TPG. Citizens Jmp upgraded TPG from a “market perform” rating to an “outperform” rating and set a $75.00 target price for the company in a research note on Monday, February 9th. Evercore set a $56.00 target price on TPG in a research note on Friday, February 6th. Citigroup upgraded TPG to an “outperform” rating in a research note on Monday, February 9th. TD Cowen restated a “hold” rating on shares of TPG in a research note on Wednesday, January 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of TPG in a research note on Friday, March 27th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, TPG has a consensus rating of “Moderate Buy” and an average price target of $64.00.

TPG Stock Performance

Shares of TPG stock opened at $37.99 on Tuesday. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 86.34, a price-to-earnings-growth ratio of 0.56 and a beta of 1.54. TPG has a 52 week low of $36.95 and a 52 week high of $70.38. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average of $45.27 and a 200-day moving average of $55.11.

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

TPG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Thursday, February 19th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend was Thursday, February 19th. This is an increase from TPG’s previous quarterly dividend of $0.45. TPG’s payout ratio is 554.55%.

Hedge Funds Weigh In On TPG

Hedge funds have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management acquired a new position in TPG during the 3rd quarter valued at about $24,334,000. Fortress Investment Group LLC acquired a new position in TPG during the 3rd quarter valued at about $17,167,000. Private Wealth Partners LLC boosted its stake in TPG by 88.2% during the 3rd quarter. Private Wealth Partners LLC now owns 113,880 shares of the company’s stock valued at $6,542,000 after purchasing an additional 53,375 shares during the last quarter. Hudson Bay Capital Management LP purchased a new position in TPG during the 3rd quarter worth $2,059,000. Finally, Capital International Investors boosted its holdings in TPG by 3.5% during the 3rd quarter. Capital International Investors now owns 11,682,464 shares of the company’s stock worth $671,158,000 after acquiring an additional 392,336 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

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.