TPG (NASDAQ:TPG) Price Target Raised to $49.00

TPG (NASDAQ:TPG) had its price objective raised by JPMorgan Chase & Co. from $44.00 to $49.00 in a research note published on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other research analysts also recently commented on TPG. UBS Group increased their target price on TPG from $45.00 to $50.00 and gave the company a buy rating in a research report on Friday, April 12th. TD Cowen reduced their target price on shares of TPG from $44.00 to $42.00 and set a hold rating on the stock in a report on Monday, July 8th. Jefferies Financial Group decreased their target price on shares of TPG from $46.00 to $44.00 and set a hold rating on the stock in a research report on Thursday, May 9th. JMP Securities reiterated a market perform rating on shares of TPG in a research report on Tuesday, April 9th. Finally, Morgan Stanley upgraded TPG from an equal weight rating to an overweight rating and upped their price objective for the company from $43.00 to $52.00 in a research report on Friday, May 10th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, TPG currently has an average rating of Hold and an average target price of $44.42.

TPG Price Performance

Shares of NASDAQ:TPG traded up $0.75 during midday trading on Wednesday, reaching $46.06. 863,545 shares of the company were exchanged, compared to its average volume of 850,111. The stock has a market cap of $16.80 billion, a PE ratio of -329.00, a price-to-earnings-growth ratio of 0.77 and a beta of 1.53. The business’s fifty day moving average is $43.59 and its two-hundred day moving average is $43.65. TPG has a one year low of $26.03 and a one year high of $51.62. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37.

TPG (NASDAQ:TPG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.43 by $0.06. TPG had a net margin of 1.08% and a return on equity of 24.41%. The business had revenue of $744.19 million during the quarter, compared to the consensus estimate of $449.34 million. During the same quarter in the prior year, the firm earned $0.26 EPS. As a group, analysts predict that TPG will post 1.99 earnings per share for the current year.

TPG Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.65%. This is a positive change from TPG’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, August 16th. TPG’s dividend payout ratio is presently -1,200.00%.

Insider Activity

In other TPG news, Director Deborah M. Messemer sold 4,089 shares of TPG stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $46.55, for a total value of $190,342.95. Following the transaction, the director now directly owns 17,536 shares of the company’s stock, valued at $816,300.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 76.48% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of TPG in the fourth quarter valued at about $164,000. Raymond James & Associates purchased a new stake in shares of TPG in the 4th quarter valued at $216,000. International Assets Investment Management LLC increased its stake in shares of TPG by 4,217.0% in the fourth quarter. International Assets Investment Management LLC now owns 25,902 shares of the company’s stock worth $1,118,000 after acquiring an additional 25,302 shares during the period. New York State Teachers Retirement System purchased a new position in shares of TPG during the fourth quarter worth $250,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in TPG during the fourth quarter valued at $507,000. Institutional investors and hedge funds own 86.79% of the company’s stock.

TPG Company Profile

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.