TD Cowen Lowers TPG (NASDAQ:TPG) Price Target to $58.00

TPG (NASDAQ:TPG) had its price target lowered by TD Cowen from $62.00 to $58.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a hold rating on the stock.

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

TPG Price Performance

Shares of NASDAQ TPG opened at $66.22 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.25 and a quick ratio of 0.25. The company’s fifty day moving average price is $59.96 and its 200 day moving average price is $49.84. TPG has a 1 year low of $30.99 and a 1 year high of $69.86.

TPG (NASDAQ:TPG) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $449.98 million. TPG had a return on equity of 23.45% and a net margin of 0.69%. During the same quarter in the prior year, the company earned $0.56 earnings per share. Equities analysts forecast that TPG will post 1.94 earnings per share for the current fiscal 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 issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.30%. TPG’s payout ratio is -494.10%.

Institutional Investors Weigh In On TPG

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank raised its holdings in TPG by 5.9% during the third quarter. Swiss National Bank now owns 144,600 shares of the company’s stock worth $8,323,000 after purchasing an additional 8,100 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in TPG by 4.5% in the third quarter. Thrivent Financial for Lutherans now owns 437,237 shares of the company’s stock worth $25,168,000 after purchasing an additional 18,629 shares during the period. KBC Group NV raised its holdings in shares of TPG by 25.1% during the third quarter. KBC Group NV now owns 2,405 shares of the company’s stock valued at $138,000 after buying an additional 482 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. bought a new position in TPG during the third quarter valued at about $269,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in shares of TPG during the third quarter valued at approximately $2,260,000. 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.