TPG (NASDAQ:TPG) Price Target Lowered to $68.00 at Citizens Jmp

TPG (NASDAQ:TPG) had its target price lowered by Citizens Jmp from $75.00 to $68.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other research firms have also recently weighed in on TPG. Wall Street Zen upgraded TPG from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Barclays raised their price objective on TPG from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. TD Cowen decreased their price target on TPG from $48.00 to $45.00 and set a “hold” rating for the company in a report on Monday, May 18th. UBS Group lifted their price objective on TPG from $54.00 to $59.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Finally, Weiss Ratings lowered shares of TPG from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 20th. Twelve analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.31.

TPG Stock Performance

NASDAQ:TPG opened at $42.63 on Thursday. TPG has a 1-year low of $36.95 and a 1-year high of $70.38. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.63. The stock has a market cap of $16.38 billion, a P/E ratio of 193.78, a PEG ratio of 0.75 and a beta of 1.45. The stock has a 50 day simple moving average of $42.07 and a 200 day simple moving average of $47.62.

TPG (NASDAQ:TPG) last announced its earnings results on Friday, May 1st. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.61 by $0.09. The company had revenue of $557.18 million for the quarter, compared to analysts’ expectations of $608.07 million. TPG had a net margin of 3.81% and a return on equity of 28.13%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. Research analysts anticipate that TPG will post 2.86 earnings per share for the current year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 11th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Monday, May 11th. TPG’s payout ratio is presently 1,072.73%.

Institutional Trading of TPG

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in TPG by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 12,700,928 shares of the company’s stock valued at $810,827,000 after purchasing an additional 314,295 shares during the last quarter. Capital International Investors increased its holdings in TPG by 0.4% during the 4th quarter. Capital International Investors now owns 11,734,677 shares of the company’s stock worth $749,142,000 after acquiring an additional 52,213 shares during the period. Temasek Holdings Private Ltd lifted its stake in TPG by 14.1% in the 1st quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company’s stock worth $406,239,000 after purchasing an additional 1,236,526 shares in the last quarter. Darlington Partners Capital Management LP purchased a new stake in TPG in the 2nd quarter worth approximately $258,581,000. Finally, Millennium Management LLC boosted its holdings in TPG by 66.9% in the 4th quarter. Millennium Management LLC now owns 4,584,733 shares of the company’s stock valued at $292,689,000 after purchasing an additional 1,837,799 shares during the period. Hedge funds and other institutional investors own 94.03% of the company’s stock.

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.