TPG (NASDAQ:TPG) Given New $60.00 Price Target at BMO Capital Markets

TPG (NASDAQ:TPG) had its target price increased by BMO Capital Markets from $45.00 to $60.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a market perform rating on the stock.

Several other research firms have also commented on TPG. Wells Fargo & Company increased their price objective on shares of TPG from $67.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price target on TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Cowen reduced their price objective on TPG from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Monday, July 8th. Deutsche Bank Aktiengesellschaft lifted their target price on TPG from $65.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley increased their price target 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. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.17.

TPG Stock Performance

Shares of NASDAQ:TPG opened at $60.88 on Tuesday. The business’s 50 day moving average is $58.74 and its 200 day moving average is $49.27. TPG has a 12-month low of $28.93 and a 12-month high of $69.86. 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 (NASDAQ:TPG) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $855.40 million for the quarter, compared to the consensus estimate of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.57%. During the same period in the previous year, the firm earned $0.56 EPS. As a group, equities analysts predict that TPG will post 1.96 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a $0.38 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.50%. TPG’s dividend payout ratio is -494.10%.

Institutional Trading of TPG

A number of institutional investors have recently added to or reduced their stakes in TPG. Mirae Asset Global Investments Co. Ltd. increased its position in shares of TPG by 5.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,430 shares of the company’s stock valued at $556,000 after buying an additional 680 shares during the period. Janney Montgomery Scott LLC lifted its stake in TPG by 7.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 7,410 shares of the company’s stock worth $331,000 after purchasing an additional 500 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in TPG in the 1st quarter valued at $151,000. Quantbot Technologies LP grew its position in shares of TPG by 169.4% during the 1st quarter. Quantbot Technologies LP now owns 36,315 shares of the company’s stock valued at $1,623,000 after purchasing an additional 22,834 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of TPG by 44.7% in the first quarter. SG Americas Securities LLC now owns 5,505 shares of the company’s stock worth $246,000 after purchasing an additional 1,700 shares during the period. Hedge funds and other institutional investors own 86.79% of the company’s stock.

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.