BMO Capital Markets Raises TPG (NASDAQ:TPG) Price Target to $60.00

TPG (NASDAQ:TPG) had its target price hoisted by BMO Capital Markets from $45.00 to $60.00 in a research report report published on Tuesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group lifted their price target 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 upped 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. Morgan Stanley lifted their price target on shares of TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of TPG from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.17.

TPG Price Performance

TPG stock opened at $60.88 on Tuesday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37. TPG has a 12-month low of $28.93 and a 12-month high of $69.86. The stock’s 50 day simple moving average is $58.74 and its 200 day simple moving average is $49.27.

TPG (NASDAQ:TPG) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. The company had revenue of $855.40 million for the quarter, compared to the consensus estimate of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.57%. During the same quarter last year, the firm posted $0.56 earnings per share. Research analysts expect that TPG will post 1.96 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. Stockholders of record on Thursday, November 14th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.50%. TPG’s dividend payout ratio (DPR) is currently -494.10%.

Institutional Investors Weigh In On TPG

A number of institutional investors and hedge funds have recently bought and sold shares of TPG. International Assets Investment Management LLC acquired a new stake in shares of TPG in the 2nd quarter worth approximately $25,000. Signaturefd LLC increased its stake in TPG by 21.3% in the third quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock valued at $62,000 after purchasing an additional 188 shares during the last quarter. Covestor Ltd grew its stake in shares of TPG by 1,128.3% during the 3rd quarter. Covestor Ltd now owns 1,867 shares of the company’s stock valued at $107,000 after buying an additional 1,715 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of TPG in the 1st quarter worth about $112,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in TPG during the first quarter valued at approximately $151,000. 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.