Wells Fargo & Company Initiates Coverage on TPG (NASDAQ:TPG)

Wells Fargo & Company started coverage on shares of TPG (NASDAQ:TPG) in a research note issued to investors on Thursday morning, Marketbeat reports. The firm issued an overweight rating and a $60.00 price target on the stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of TPG from $44.00 to $49.00 and gave the company a neutral rating in a research note on Wednesday, August 7th. TD Cowen decreased their price objective on shares of TPG from $44.00 to $42.00 and set a hold rating for the company in a report on Monday, July 8th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $47.25.

TPG Trading Up 4.6 %

TPG stock opened at $56.44 on Thursday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37. TPG has a 12 month low of $26.62 and a 12 month high of $56.82. The company’s fifty day simple moving average is $47.98 and its 200-day simple moving average is $44.88. The stock has a market cap of $20.58 billion, a P/E ratio of -403.14, a P/E/G ratio of 0.92 and a beta of 1.52.

TPG (NASDAQ:TPG) last issued its earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. TPG had a return on equity of 24.27% and a net margin of 1.08%. The firm had revenue of $744.19 million for the quarter, compared to the consensus estimate of $449.34 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. As a group, sell-side analysts forecast that TPG will post 2.01 EPS for the current fiscal year.

TPG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a $0.42 dividend. This is an increase from TPG’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, August 16th. TPG’s dividend payout ratio (DPR) is currently -1,200.00%.

Insider Buying and Selling

In other TPG news, Director Deborah M. Messemer sold 4,089 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $46.55, for a total value of $190,342.95. Following the sale, the director now owns 17,536 shares of the company’s stock, valued at approximately $816,300.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 76.48% of the stock is owned by insiders.

Institutional Investors Weigh In On TPG

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ghisallo Capital Management LLC acquired a new stake in TPG during the second quarter worth about $5,181,000. Creative Planning lifted its position in shares of TPG by 25.0% in the 2nd quarter. Creative Planning now owns 6,933 shares of the company’s stock worth $287,000 after acquiring an additional 1,388 shares during the period. Algert Global LLC acquired a new stake in shares of TPG during the 2nd quarter worth approximately $290,000. The Manufacturers Life Insurance Company increased its position in shares of TPG by 13.2% during the second quarter. The Manufacturers Life Insurance Company now owns 19,773 shares of the company’s stock valued at $820,000 after purchasing an additional 2,313 shares during the period. Finally, Millennium Management LLC raised its stake in shares of TPG by 32.4% in the second quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock valued at $156,188,000 after purchasing an additional 922,571 shares in the last quarter. 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.