TPG (NASDAQ:TPG) Hits New 1-Year High – Here’s Why

Shares of TPG Inc. (NASDAQ:TPG) reached a new 52-week high on Friday . The company traded as high as $70.83 and last traded at $70.31, with a volume of 245205 shares trading hands. The stock had previously closed at $69.70.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on TPG from $67.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley lifted their price objective on shares of TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Evercore ISI upped their target price on shares of TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a report on Monday, October 14th. TD Cowen lowered their price target on TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price objective on TPG from $67.00 to $77.00 and gave the company a “buy” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $58.83.

TPG Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a market capitalization of $25.42 billion, a price-to-earnings ratio of -206.41, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. The business has a fifty day simple moving average of $63.01 and a 200 day simple moving average of $51.27.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. TPG had a net margin of 0.69% and a return on equity of 23.45%. The business had revenue of $855.40 million for the quarter, compared to the consensus estimate of $449.98 million. During the same period in the prior year, the company posted $0.56 earnings per share. As a group, research analysts expect that TPG Inc. will post 1.95 EPS for the current year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.18%. TPG’s dividend payout ratio is presently -447.05%.

Institutional Trading of TPG

Several large investors have recently modified their holdings of TPG. Capital International Investors raised its holdings in shares of TPG by 9.6% during the 1st quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock worth $172,581,000 after buying an additional 336,665 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of TPG by 21.6% in the first quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock valued at $328,826,000 after buying an additional 1,305,799 shares during the period. International Assets Investment Management LLC raised its holdings in TPG by 5,656.0% in the 3rd quarter. International Assets Investment Management LLC now owns 34,536 shares of the company’s stock valued at $1,988,000 after buying an additional 33,936 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in TPG during the 2nd quarter worth approximately $1,057,000. Finally, Millennium Management LLC raised its stake in shares of TPG by 32.4% during the second quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock valued at $156,188,000 after acquiring an additional 922,571 shares during the last quarter. 86.79% of the stock is owned by institutional investors and hedge funds.

About TPG

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.