TPG (NASDAQ:TPG) Earns Overweight Rating from Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of TPG (NASDAQ:TPG) in a research report report published on Thursday, MarketBeat.com reports. The brokerage issued an overweight rating and a $60.00 target price on the stock.

Several other brokerages have also commented on TPG. TD Cowen dropped their price target on shares of TPG from $44.00 to $42.00 and set a hold rating on the stock in a research note on Monday, July 8th. JPMorgan Chase & Co. increased their price objective on TPG from $44.00 to $49.00 and gave the stock a neutral rating in a report on Wednesday, August 7th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, TPG currently has an average rating of Moderate Buy and a consensus target price of $47.25.

TPG Trading Up 4.6 %

Shares of NASDAQ TPG opened at $56.44 on Thursday. TPG has a 12-month low of $26.62 and a 12-month high of $56.82. The company has a market cap of $20.58 billion, a price-to-earnings ratio of -403.14, a price-to-earnings-growth ratio of 0.92 and a beta of 1.52. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $47.98 and its 200 day simple moving average is $44.88.

TPG (NASDAQ:TPG) last posted its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. The company had revenue of $744.19 million for the quarter, compared to analysts’ expectations of $449.34 million. TPG had a return on equity of 24.27% and a net margin of 1.08%. During the same period last year, the business posted $0.26 earnings per share. Equities research analysts expect that TPG will post 2.01 EPS for the current year.

TPG Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.42 dividend. The ex-dividend date was Friday, August 16th. This is a boost from TPG’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 2.98%. TPG’s payout ratio is -1,200.00%.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,089 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $46.55, for a total transaction of $190,342.95. Following the completion of the sale, the director now directly owns 17,536 shares of the company’s stock, valued at approximately $816,300.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 76.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TPG. International Assets Investment Management LLC acquired a new position in TPG in the 2nd quarter worth approximately $25,000. YHB Investment Advisors Inc. purchased a new stake in shares of TPG in the first quarter valued at $32,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of TPG in the first quarter worth $112,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of TPG during the first quarter valued at $151,000. Finally, MQS Management LLC acquired a new position in TPG during the first quarter valued at $201,000. 86.79% of the stock is owned by hedge funds and other institutional investors.

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.