TPG (NASDAQ:TPG) Posts Quarterly Earnings Results

TPG (NASDAQ:TPG) released its quarterly earnings results on Wednesday. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06, Briefing.com reports. The company had revenue of $512.30 million for the quarter, compared to analysts’ expectations of $452.87 million. TPG had a return on equity of 18.69% and a net margin of 3.35%. The business’s revenue for the quarter was up 64.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share.

TPG Trading Down 1.5 %

Shares of TPG stock traded down $0.65 on Thursday, reaching $42.87. The company had a trading volume of 341,582 shares, compared to its average volume of 764,320. The stock has a market cap of $15.63 billion, a PE ratio of -1,088.00, a PEG ratio of 0.75 and a beta of 1.60. The company has a 50-day moving average of $44.37 and a 200-day moving average of $40.38. The company has a current ratio of 0.16, a quick ratio of 0.16 and a debt-to-equity ratio of 0.28. TPG has a 12 month low of $24.74 and a 12 month high of $47.20.

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.11%. TPG’s dividend payout ratio (DPR) is presently -4,400.00%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group upped their price objective on TPG from $45.00 to $50.00 and gave the company a “buy” rating in a report on Friday, April 12th. TheStreet cut shares of TPG from a “c” rating to a “d” rating in a research note on Monday, March 18th. Keefe, Bruyette & Woods raised their target price on shares of TPG from $42.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, February 14th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $42.00 price target (up previously from $36.00) on shares of TPG in a report on Wednesday, February 14th. Finally, JMP Securities reissued a “market perform” rating on shares of TPG in a research note on Tuesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, TPG currently has a consensus rating of “Hold” and a consensus target price of $39.96.

Insiders Place Their Bets

In related news, insider Joann Harris sold 1,739 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $41.64, for a total transaction of $72,411.96. Following the completion of the sale, the insider now directly owns 22,860 shares of the company’s stock, valued at approximately $951,890.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Joann Harris sold 1,739 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $41.64, for a total value of $72,411.96. Following the sale, the insider now owns 22,860 shares of the company’s stock, valued at $951,890.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Martin Davidson sold 39,317 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $41.64, for a total transaction of $1,637,159.88. Following the completion of the transaction, the chief accounting officer now directly owns 30,991 shares of the company’s stock, valued at approximately $1,290,465.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,434,129 shares of company stock worth $101,357,132. Company insiders own 78.72% of the company’s stock.

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.