TPG (NASDAQ:TPG) Research Coverage Started at Barclays

Barclays assumed coverage on shares of TPG (NASDAQ:TPG) in a research note issued to investors on Wednesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $78.00 target price on the stock.

TPG has been the subject of a number of other research reports. Evercore ISI lifted their target price on TPG from $55.00 to $62.00 and gave the stock an “in-line” rating in a report on Thursday, January 22nd. Morgan Stanley set a $67.00 price objective on TPG in a research report on Tuesday. Bank of America lifted their price objective on TPG from $65.00 to $69.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Citigroup dropped their price target on shares of TPG from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of TPG in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, TPG presently has an average rating of “Moderate Buy” and an average price target of $70.69.

TPG Stock Performance

Shares of TPG stock opened at $58.91 on Wednesday. TPG has a 1 year low of $37.52 and a 1 year high of $70.38. The firm’s 50-day moving average is $63.62 and its 200 day moving average is $60.18. The stock has a market cap of $22.27 billion, a price-to-earnings ratio of 654.56, a PEG ratio of 0.89 and a beta of 1.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35.

TPG (NASDAQ:TPG) last issued its earnings results on Tuesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $509.40 million during the quarter, compared to the consensus estimate of $510.32 million. TPG had a return on equity of 25.79% and a net margin of 2.83%.The company’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 EPS. Sell-side analysts anticipate that TPG will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 14th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, November 14th. TPG’s payout ratio is 2,000.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC bought a new stake in shares of TPG during the 4th quarter valued at $13,630,000. State of New Jersey Common Pension Fund D lifted its position in TPG by 1.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 43,900 shares of the company’s stock valued at $2,803,000 after purchasing an additional 819 shares in the last quarter. Comerica Bank lifted its position in TPG by 408.7% during the fourth quarter. Comerica Bank now owns 2,879 shares of the company’s stock valued at $184,000 after purchasing an additional 2,313 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in TPG by 13.7% during the fourth quarter. Pictet Asset Management Holding SA now owns 20,129 shares of the company’s stock valued at $1,285,000 after purchasing an additional 2,423 shares during the period. Finally, Cornerstone Investment Partners LLC purchased a new stake in TPG in the fourth quarter worth about $363,000. 94.03% of the stock is currently owned by institutional investors.

TPG Company Profile

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.