TPG (NASDAQ:TPG) Stock Price Down 9.2% – Here’s What Happened

TPG Inc. (NASDAQ:TPG) shares fell 9.2% on Thursday . The company traded as low as $43.39 and last traded at $43.5270. 794,926 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 3,182,066 shares. The stock had previously closed at $47.94.

Analysts Set New Price Targets

TPG has been the topic of several analyst reports. UBS Group lifted their target price on TPG from $82.00 to $83.00 and gave the company a “buy” rating in a research report on Tuesday, January 13th. Morgan Stanley set a $67.00 price objective on shares of TPG in a report on Tuesday, January 27th. Wolfe Research reiterated an “outperform” rating and issued a $80.00 target price on shares of TPG in a research note on Wednesday, January 7th. JPMorgan Chase & Co. dropped their price target on shares of TPG from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, Citizens Jmp upgraded shares of TPG from a “market perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.93.

TPG Price Performance

The company’s 50 day simple moving average is $61.49 and its 200 day simple moving average is $59.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.35 and a quick ratio of 0.35. The stock has a market cap of $16.44 billion, a P/E ratio of 99.01, a P/E/G ratio of 0.69 and a beta of 1.50.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.20. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $548.40 million. TPG had a return on equity of 26.96% and a net margin of 3.95%.The company’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 earnings per share. As a group, equities analysts forecast that TPG Inc. will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Investors of record on Thursday, February 19th will be issued a dividend of $0.61 per share. The ex-dividend date is Thursday, February 19th. This is a positive change from TPG’s previous quarterly dividend of $0.45. This represents a $2.44 dividend on an annualized basis and a yield of 5.6%. TPG’s dividend payout ratio is presently 409.09%.

Hedge Funds Weigh In On TPG

Large investors have recently modified their holdings of the stock. Darlington Partners Capital Management LP bought a new position in TPG during the 2nd quarter worth $258,581,000. Millennium Management LLC raised its position in shares of TPG by 66.9% in the fourth quarter. Millennium Management LLC now owns 4,584,733 shares of the company’s stock valued at $292,689,000 after buying an additional 1,837,799 shares in the last quarter. Norges Bank bought a new stake in shares of TPG in the fourth quarter valued at approximately $106,755,000. Bank of America Corp DE raised 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 valued at $204,960,000 after acquiring an additional 1,501,808 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in TPG during the second quarter worth about $54,088,000. 94.03% of the stock is 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.