Wells Fargo & Company Forecasts Strong Price Appreciation for TPG (NASDAQ:TPG) Stock

TPG (NASDAQ:TPG) had its price objective raised by Wells Fargo & Company from $67.00 to $68.00 in a report published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts have also recently commented on TPG. Morgan Stanley lifted their price target on TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lifted their target price on TPG from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday. TD Cowen cut their price target on shares of TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a report on Monday, July 8th. The Goldman Sachs Group lifted their price objective on shares of TPG from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $57.50.

TPG Stock Performance

Shares of TPG stock opened at $66.22 on Tuesday. The company has a 50 day moving average price of $59.96 and a 200 day moving average price of $49.80. The firm has a market capitalization of $24.16 billion, a P/E ratio of -194.76, a PEG ratio of 1.10 and a beta of 1.49. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.39. TPG has a 52 week low of $30.99 and a 52 week high of $69.86.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. TPG had a net margin of 0.69% and a return on equity of 23.45%. The business had revenue of $855.40 million for the quarter, compared to analyst estimates of $449.98 million. During the same quarter in the prior year, the business posted $0.56 EPS. Sell-side analysts expect that TPG will post 1.94 EPS for the current year.

TPG Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be given a $0.38 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.30%. TPG’s dividend payout ratio (DPR) is currently -447.06%.

Institutional Investors Weigh In On TPG

A number of institutional investors have recently modified their holdings of TPG. International Assets Investment Management LLC acquired a new stake in TPG in the 2nd quarter valued at $25,000. Signaturefd LLC raised its position in TPG by 21.3% during the third quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock worth $62,000 after acquiring an additional 188 shares during the period. Covestor Ltd grew its position in shares of TPG by 1,128.3% in the third quarter. Covestor Ltd now owns 1,867 shares of the company’s stock valued at $107,000 after purchasing an additional 1,715 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of TPG during the first quarter worth about $112,000. Finally, KBC Group NV raised its position in shares of TPG by 25.1% during the 3rd quarter. KBC Group NV now owns 2,405 shares of the company’s stock worth $138,000 after purchasing an additional 482 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.