TPG (NASDAQ:TPG) Price Target Lowered to $42.00 at TD Cowen

TPG (NASDAQ:TPG) had its price target trimmed by TD Cowen from $65.00 to $42.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities analysts also recently issued reports about the company. Citigroup lowered their price target on TPG from $72.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday. Bank of America cut their price target on TPG from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Evercore ISI increased their price objective on TPG from $65.00 to $66.00 and gave the company an “in-line” rating in a report on Wednesday, February 12th. Wells Fargo & Company cut their target price on shares of TPG from $66.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, The Goldman Sachs Group decreased their price target on shares of TPG from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.62.

TPG Stock Down 7.6 %

Shares of TPG stock traded down $3.50 during trading hours on Wednesday, reaching $42.37. 566,266 shares of the stock were exchanged, compared to its average volume of 1,081,054. TPG has a 12-month low of $37.52 and a 12-month high of $72.98. The business’s fifty day moving average is $52.55 and its two-hundred day moving average is $60.93. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.18 and a quick ratio of 0.25. The firm has a market capitalization of $15.65 billion, a P/E ratio of -96.41, a P/E/G ratio of 0.80 and a beta of 1.58.

TPG (NASDAQ:TPG) last released its quarterly earnings data on Tuesday, February 11th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.10. TPG had a net margin of 0.67% and a return on equity of 24.66%. As a group, research analysts expect that TPG will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.00%. This is a boost from TPG’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 21st. TPG’s payout ratio is -481.82%.

Insider Buying and Selling

In related news, General Counsel Bradford Berenson sold 2,509 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total transaction of $125,550.36. Following the sale, the general counsel now directly owns 290,841 shares in the company, valued at approximately $14,553,683.64. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Deborah M. Messemer sold 1,695 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $980,716.31. This represents a 9.67 % decrease in their position. The disclosure for this sale can be found here. 76.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TPG. Geode Capital Management LLC grew its stake in shares of TPG by 7.7% during the third quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock valued at $83,023,000 after acquiring an additional 102,663 shares in the last quarter. JPMorgan Chase & Co. grew its stake in TPG by 2,515.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company’s stock valued at $104,296,000 after purchasing an additional 1,596,254 shares in the last quarter. Gunderson Capital Management Inc. purchased a new stake in TPG during the 4th quarter worth approximately $1,815,000. Highland Capital Management LLC raised its position in shares of TPG by 21.2% in the 4th quarter. Highland Capital Management LLC now owns 51,267 shares of the company’s stock valued at $3,222,000 after purchasing an additional 8,967 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of TPG during the 4th quarter valued at approximately $615,000. 94.03% of the stock is currently owned by hedge funds and other 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.