TPG (NASDAQ:TPG) Price Target Cut to $42.00

TPG (NASDAQ:TPG) had its target price decreased by TD Cowen from $44.00 to $42.00 in a report released on Monday morning, Benzinga reports. TD Cowen currently has a hold rating on the stock.

TPG has been the topic of a number of other research reports. TheStreet downgraded TPG from a c rating to a d rating in a research report on Monday, March 18th. Morgan Stanley upgraded TPG from an equal weight rating to an overweight rating and lifted their price objective for the stock from $43.00 to $52.00 in a research report on Friday, May 10th. UBS Group lifted their price objective on TPG from $45.00 to $50.00 and gave the stock a buy rating in a research report on Friday, April 12th. Jefferies Financial Group reduced their price objective on TPG from $46.00 to $44.00 and set a hold rating on the stock in a research report on Thursday, May 9th. Finally, JMP Securities restated a market perform rating on shares of TPG in a research report on Tuesday, April 9th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $42.83.

TPG Trading Up 3.1 %

Shares of NASDAQ:TPG opened at $42.45 on Monday. TPG has a 52-week low of $26.03 and a 52-week high of $47.20. The stock has a market cap of $15.48 billion, a price-to-earnings ratio of -303.19, a PEG ratio of 0.70 and a beta of 1.52. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $41.96 and a 200-day moving average price of $42.72.

TPG (NASDAQ:TPG) last posted its earnings results on Wednesday, May 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.43 by $0.06. The firm had revenue of $512.30 million for the quarter, compared to analyst estimates of $452.87 million. TPG had a return on equity of 21.16% and a net margin of 2.74%. TPG’s revenue for the quarter was up 64.5% compared to the same quarter last year. During the same period last year, the company earned $0.24 earnings per share. Equities analysts predict that TPG will post 2.02 EPS for the current year.

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend was Friday, May 17th. TPG’s dividend payout ratio is presently -1,171.34%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in 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 during the period. Norges Bank purchased a new position in TPG in the fourth quarter valued at about $52,189,000. Massachusetts Financial Services Co. MA raised its position in TPG by 18.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,956,548 shares of the company’s stock valued at $127,634,000 after purchasing an additional 462,355 shares during the period. Capital International Investors grew its stake in shares of TPG by 9.6% during the first quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock valued at $172,581,000 after acquiring an additional 336,665 shares in the last quarter. Finally, Grafton Street Partners Fund LP acquired a new stake in shares of TPG during the fourth quarter valued at about $11,479,000. 86.79% of the stock is owned by hedge funds and other institutional investors.

TPG Company Profile

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.