The Goldman Sachs Group Has Lowered Expectations for TPG (NASDAQ:TPG) Stock Price

TPG (NASDAQ:TPG) had its price objective dropped by equities researchers at The Goldman Sachs Group from $70.00 to $63.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 46.41% from the company’s previous close.

A number of other brokerages also recently issued reports on TPG. Wells Fargo & Company reduced their price objective on TPG from $78.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. BMO Capital Markets boosted their target price on TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price objective on TPG from $62.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Evercore ISI increased their target price on shares of TPG from $65.00 to $66.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 12th. Finally, JMP Securities restated a “market perform” rating on shares of TPG in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.91.

TPG Price Performance

Shares of NASDAQ:TPG traded down $6.59 during trading on Thursday, hitting $43.03. 1,222,990 shares of the company were exchanged, compared to its average volume of 1,018,403. The company has a market capitalization of $15.90 billion, a P/E ratio of -97.80, a price-to-earnings-growth ratio of 0.80 and a beta of 1.54. TPG has a 1-year low of $39.18 and a 1-year high of $72.98. The business’s 50 day moving average is $56.11 and its 200-day moving average is $61.73. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36.

TPG (NASDAQ:TPG) last announced its earnings results on Tuesday, February 11th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. Equities analysts forecast that TPG will post 2.52 earnings per share for the current year.

Insiders Place Their Bets

In other TPG news, Director Deborah M. Messemer sold 1,695 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $61.91, for a total value of $104,937.45. Following the completion of the transaction, the director now owns 15,841 shares in the company, valued at approximately $980,716.31. This represents a 9.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Bradford Berenson sold 2,509 shares of TPG stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total value of $125,550.36. Following the transaction, the general counsel now owns 290,841 shares of the company’s stock, valued at $14,553,683.64. The trade was a 0.86 % decrease in their position. The disclosure for this sale can be found here. 76.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TPG. Vanguard Group Inc. raised its position in TPG by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 8,266,047 shares of the company’s stock worth $519,438,000 after buying an additional 162,107 shares during the last quarter. Capital World Investors lifted its position in TPG by 484.6% during the fourth quarter. Capital World Investors now owns 3,065,321 shares of the company’s stock valued at $192,625,000 after purchasing an additional 2,541,013 shares during the period. Franklin Resources Inc. boosted its holdings in TPG by 10.1% in the third quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company’s stock worth $161,921,000 after purchasing an additional 244,373 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in TPG by 43.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,253,070 shares of the company’s stock worth $141,584,000 after purchasing an additional 683,572 shares during the period. Finally, Millennium Management LLC grew its position in TPG by 66.8% in the 4th quarter. Millennium Management LLC now owns 2,243,815 shares of the company’s stock worth $141,001,000 after purchasing an additional 898,943 shares during the period. 94.03% of the stock is owned by institutional investors.

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.