TPG (NASDAQ:TPG) Price Target Cut to $63.00 by Analysts at The Goldman Sachs Group

TPG (NASDAQ:TPG) had its price objective reduced by The Goldman Sachs Group from $70.00 to $63.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

TPG has been the topic of several other research reports. Wells Fargo & Company lowered their price target on TPG from $78.00 to $66.00 and set an “overweight” rating on the stock in a report on Thursday, March 20th. BMO Capital Markets raised their target price on shares of 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 boosted their price target on shares of TPG from $62.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, December 20th. JMP Securities restated a “market perform” rating on shares of TPG in a research report on Thursday, February 13th. Finally, Evercore ISI upped 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. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $61.91.

TPG Trading Down 14.7 %

Shares of TPG stock opened at $42.33 on Thursday. The company’s 50-day moving average price is $55.56 and its 200-day moving average price is $61.60. The company has a current ratio of 0.18, a quick ratio of 0.25 and a debt-to-equity ratio of 0.36. TPG has a 12-month low of $39.18 and a 12-month high of $72.98. The company has a market cap of $15.64 billion, a price-to-earnings ratio of -96.20, a PEG ratio of 0.80 and a beta of 1.54.

TPG (NASDAQ:TPG) last posted its earnings results 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%. On average, equities analysts expect that TPG will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

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

Insider Buying and Selling

In related news, General Counsel Bradford Berenson sold 2,509 shares of the business’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 transaction, the general counsel now owns 290,841 shares in the company, valued at $14,553,683.64. The trade was a 0.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Deborah M. Messemer sold 1,695 shares of the 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 sale, the director now owns 15,841 shares of the company’s stock, valued at approximately $980,716.31. This trade 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 insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina boosted its stake in shares of TPG by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,946 shares of the company’s stock valued at $2,322,000 after purchasing an additional 230 shares in the last quarter. Shoker Investment Counsel Inc. boosted its position in TPG by 10.4% during the 4th quarter. Shoker Investment Counsel Inc. now owns 3,889 shares of the company’s stock valued at $244,000 after acquiring an additional 366 shares in the last quarter. Comerica Bank grew its holdings in shares of TPG by 71.4% during the 4th quarter. Comerica Bank now owns 1,080 shares of the company’s stock worth $68,000 after acquiring an additional 450 shares during the period. Commonwealth Equity Services LLC raised its position in shares of TPG by 6.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 8,021 shares of the company’s stock worth $504,000 after acquiring an additional 498 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of TPG during the fourth quarter valued at approximately $33,000. 94.03% of the stock is owned by hedge funds and other institutional investors.

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.