TPG (NASDAQ:TPG) Given New $52.00 Price Target at Wells Fargo & Company

TPG (NASDAQ:TPG) had its price objective cut by Wells Fargo & Company from $66.00 to $52.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also commented on the stock. BMO Capital Markets raised their price objective on shares of TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Citigroup lowered their price target on TPG from $72.00 to $56.00 and set a “buy” rating on the stock in a research report on Tuesday. JMP Securities reiterated a “market perform” rating on shares of TPG in a research report on Thursday, February 13th. Bank of America dropped their target price on TPG from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Finally, Keefe, Bruyette & Woods increased their price target on shares of TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, TPG currently has a consensus rating of “Moderate Buy” and an average price target of $59.62.

TPG Stock Performance

Shares of TPG opened at $43.80 on Tuesday. TPG has a 52-week low of $37.52 and a 52-week high of $72.98. The stock’s 50-day simple moving average is $52.12 and its 200 day simple moving average is $60.83. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.25 and a current ratio of 0.18. The stock has a market capitalization of $16.18 billion, a price-to-earnings ratio of -99.55, a price-to-earnings-growth 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 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10. TPG had a net margin of 0.67% and a return on equity of 24.66%. Research analysts forecast that TPG will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a dividend of $0.53 per share. This is a boost from TPG’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, February 21st. This represents a $2.12 dividend on an annualized basis and a yield of 4.84%. TPG’s payout ratio is presently -481.82%.

Insider Transactions at TPG

In related news, General Counsel Bradford Berenson sold 2,509 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total value of $125,550.36. Following the transaction, the general counsel now directly owns 290,841 shares of the company’s stock, valued at approximately $14,553,683.64. This represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Deborah M. Messemer sold 1,695 shares of TPG 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 sale, the director now directly owns 15,841 shares of the company’s stock, valued at approximately $980,716.31. The trade was a 9.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 76.48% of the company’s stock.

Hedge Funds Weigh In On TPG

Hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its holdings in shares of TPG by 19.2% during the third quarter. The Manufacturers Life Insurance Company now owns 23,575 shares of the company’s stock valued at $1,357,000 after purchasing an additional 3,802 shares during the last quarter. State Street Corp boosted its stake in shares of TPG by 5.0% in the 3rd quarter. State Street Corp now owns 1,421,981 shares of the company’s stock worth $81,849,000 after buying an additional 67,597 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of TPG in the third quarter worth $461,000. Barclays PLC increased its position in TPG by 14,739.3% during the third quarter. Barclays PLC now owns 602,029 shares of the company’s stock valued at $34,652,000 after acquiring an additional 597,972 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in TPG by 7.7% in the third quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock worth $83,023,000 after purchasing an additional 102,663 shares during the last quarter. Institutional investors own 94.03% 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.