Barclays Cuts TPG (NASDAQ:TPG) Price Target to $56.00

TPG (NASDAQ:TPG) had its target price lowered by Barclays from $69.00 to $56.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

TPG has been the topic of several other reports. Citizens Jmp upgraded shares of TPG from a “market perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research note on Monday, February 9th. JPMorgan Chase & Co. dropped their price objective on TPG from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. UBS Group decreased their target price on TPG from $83.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Morgan Stanley set a $67.00 price target on TPG in a research report on Tuesday, January 27th. Finally, Evercore set a $56.00 price objective on TPG in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.80.

TPG Stock Performance

NASDAQ:TPG opened at $45.57 on Monday. The business’s fifty day moving average is $57.13 and its 200 day moving average is $58.58. The firm has a market cap of $17.51 billion, a price-to-earnings ratio of 103.57, a PEG ratio of 0.62 and a beta of 1.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.30 and a current ratio of 0.30. TPG has a 52-week low of $37.52 and a 52-week high of $70.38.

TPG (NASDAQ:TPG) last issued its earnings results on Thursday, February 5th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.65 by $0.20. TPG had a return on equity of 26.02% and a net margin of 3.95%.The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $548.40 million. During the same quarter last year, the company earned $0.62 EPS. The firm’s revenue was up 35.6% compared to the same quarter last year. Research analysts predict that TPG will post 2.52 EPS for the current year.

TPG Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Thursday, February 19th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 5.4%. This is a boost from TPG’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, February 19th. TPG’s payout ratio is 554.55%.

Hedge Funds Weigh In On TPG

Several institutional investors and hedge funds have recently made changes to their positions in TPG. Darlington Partners Capital Management LP bought a new position in shares of TPG during the second quarter valued at about $258,581,000. Millennium Management LLC grew its position in TPG by 66.9% during the 4th quarter. Millennium Management LLC now owns 4,584,733 shares of the company’s stock worth $292,689,000 after acquiring an additional 1,837,799 shares during the last quarter. Norges Bank purchased a new position in shares of TPG in the fourth quarter valued at about $106,755,000. Bank of America Corp DE lifted its holdings in TPG by 72.7% in the 3rd quarter. Bank of America Corp DE now owns 3,567,626 shares of the company’s stock worth $204,960,000 after buying an additional 1,501,808 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of TPG in the 2nd quarter worth approximately $54,088,000. 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.