TPG (NASDAQ:TPG) Given New $63.00 Price Target at The Goldman Sachs Group

by · The Cerbat Gem

TPG (NASDAQ:TPG – Free Report) had its price objective trimmed by The Goldman Sachs Group from $70.00 to $63.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on TPG. BMO Capital Markets lifted their target price on shares of TPG from $60.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. JMP Securities restated a “market perform” rating on shares of TPG in a report on Thursday, February 13th. Wells Fargo & Company cut their target price on TPG from $78.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, March 20th. Evercore ISI upped their price target on TPG from $65.00 to $66.00 and gave the company an “in-line” rating in a report on Wednesday, February 12th. Finally, 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. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, TPG presently has a consensus rating of “Hold” and a consensus target price of $61.91.

View Our Latest Analysis on TPG

TPG Price Performance

TPG stock opened at $42.33 on Thursday. 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 firm has a market capitalization of $15.64 billion, a price-to-earnings ratio of -96.20, a PEG ratio of 0.80 and a beta of 1.54. The firm has a 50 day moving average price of $55.56 and a 200-day moving average price of $61.60. TPG has a 52-week low of $39.18 and a 52-week high of $72.98.

TPG (NASDAQ:TPG – Get Free Report) last released its earnings results on Tuesday, February 11th. The company reported $0.62 EPS for the quarter, topping 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 research analysts forecast that TPG will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Friday, February 21st. This is a boost from TPG’s previous quarterly dividend of $0.38. TPG’s dividend payout ratio is -481.82%.

Insider Buying and Selling

In other TPG news, General Counsel Bradford Berenson sold 2,509 shares of the stock in a transaction that occurred 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 directly owns 290,841 shares in the company, valued at approximately $14,553,683.64. This trade represents a 0.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deborah M. Messemer sold 1,695 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $61.91, for a total transaction of $104,937.45. Following 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. 76.48% of the stock is currently owned by insiders.

Institutional Trading of TPG

A number of hedge funds and other institutional investors have recently bought and sold shares of TPG. Vanguard Group Inc. increased its holdings 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 acquiring an additional 162,107 shares in the last quarter. Capital World Investors increased its stake in shares of TPG by 484.6% in the fourth quarter. Capital World Investors now owns 3,065,321 shares of the company’s stock worth $192,625,000 after purchasing an additional 2,541,013 shares in the last quarter. Franklin Resources Inc. raised its position in shares of TPG by 10.1% during the 3rd quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company’s stock valued at $161,921,000 after purchasing an additional 244,373 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of TPG by 43.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,253,070 shares of the company’s stock valued at $141,584,000 after buying an additional 683,572 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings 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 buying an additional 898,943 shares during the period. Hedge funds and other institutional investors own 94.03% of the company’s stock.

About TPG

(Get Free Report)

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.

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