TPG (NASDAQ:TPG) Coverage Initiated at Wolfe Research

Equities research analysts at Wolfe Research started coverage on shares of TPG (NASDAQ:TPG) in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage set an “outperform” rating and a $60.00 price target on the stock. Wolfe Research’s price target points to a potential upside of 18.72% from the company’s current price.

A number of other research firms also recently commented on TPG. Wells Fargo & Company upped their price objective on shares of TPG from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. Bank of America dropped their price objective on shares of TPG from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Morgan Stanley reaffirmed an “equal weight” rating and set a $47.00 price objective (down previously from $80.00) on shares of TPG in a research note on Monday, April 14th. TD Cowen dropped their price objective on shares of TPG from $65.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Finally, UBS Group dropped their price objective on shares of TPG from $72.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.23.

TPG Trading Up 1.2%

Shares of TPG stock opened at $50.54 on Friday. The firm has a 50-day moving average price of $48.09 and a 200 day moving average price of $54.80. TPG has a twelve month low of $37.52 and a twelve month high of $72.98. The company has a market capitalization of $18.68 billion, a price-to-earnings ratio of -153.15, a PEG ratio of 1.07 and a beta of 1.55. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.42.

TPG (NASDAQ:TPG) last announced its earnings results on Wednesday, May 7th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). TPG had a net margin of 0.90% and a return on equity of 24.47%. The firm had revenue of $476.26 million during the quarter, compared to analyst estimates of $459.75 million. During the same period in the previous year, the firm posted $0.49 EPS. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts forecast that TPG will post 2.52 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TPG news, major shareholder Samantha Holloway sold 21,000,000 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $46.57, for a total value of $977,970,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 69.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On TPG

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP raised its position in shares of TPG by 132.3% in the 1st quarter. Allworth Financial LP now owns 648 shares of the company’s stock valued at $30,000 after purchasing an additional 369 shares in the last quarter. Versant Capital Management Inc raised its position in shares of TPG by 12,263.6% in the 1st quarter. Versant Capital Management Inc now owns 1,360 shares of the company’s stock valued at $65,000 after purchasing an additional 1,349 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in shares of TPG in the 4th quarter valued at approximately $67,000. Comerica Bank raised its position in shares of TPG by 71.4% in the 4th quarter. Comerica Bank now owns 1,080 shares of the company’s stock valued at $68,000 after purchasing an additional 450 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of TPG by 27.0% in the 1st quarter. Signaturefd LLC now owns 1,443 shares of the company’s stock valued at $68,000 after purchasing an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

TPG Company Profile

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.