TPG (NASDAQ:TPG) Given New $58.00 Price Target at TD Cowen

TPG (NASDAQ:TPG) had its target price cut by TD Cowen from $62.00 to $58.00 in a report released on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages have also commented on TPG. Morgan Stanley boosted their price objective on TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. BMO Capital Markets increased their price objective on TPG from $45.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company upped their price target on TPG from $67.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group lifted their price objective on TPG from $60.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, Evercore ISI increased their price target on shares of TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $57.50.

TPG Stock Performance

NASDAQ:TPG opened at $66.22 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25. The stock’s 50 day moving average price is $59.96 and its two-hundred day moving average price is $49.84. TPG has a 12-month low of $30.99 and a 12-month high of $69.86.

TPG (NASDAQ:TPG) last announced its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The business had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.45%. During the same quarter last year, the firm earned $0.56 earnings per share. On average, equities research analysts predict that TPG will post 1.94 EPS for the current year.

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Thursday, November 14th. TPG’s dividend payout ratio (DPR) is presently -494.10%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TPG. Swiss National Bank increased its stake in TPG by 45.2% in the first quarter. Swiss National Bank now owns 155,100 shares of the company’s stock valued at $6,933,000 after purchasing an additional 48,300 shares in the last quarter. Capital International Investors increased its position in TPG by 9.6% during the 1st quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock valued at $172,581,000 after purchasing an additional 336,665 shares during the period. Seven Eight Capital LP bought a new stake in TPG in the first quarter valued at $935,000. Vanguard Group Inc. lifted its holdings in shares of TPG by 21.6% in the first quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock valued at $328,826,000 after purchasing an additional 1,305,799 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of TPG by 5,656.0% in the 3rd quarter. International Assets Investment Management LLC now owns 34,536 shares of the company’s stock worth $1,988,000 after buying an additional 33,936 shares during the last quarter. 86.79% of the stock is currently owned by institutional investors and hedge funds.

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.