Royal Bank Of Canada Upgrades TPG (NASDAQ:TPG) to “Moderate Buy”

TPG (NASDAQ:TPG) was upgraded by equities researchers at Royal Bank Of Canada to a “moderate buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently issued reports on the stock. Barclays set a $69.00 price target on shares of TPG in a report on Friday, February 6th. Citigroup upgraded shares of TPG to an “outperform” rating in a research report on Monday, February 9th. The Goldman Sachs Group restated a “buy” rating and issued a $80.00 target price on shares of TPG in a research report on Tuesday, January 6th. UBS Group dropped their price target on shares of TPG from $83.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Weiss Ratings reaffirmed 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, eleven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, TPG has a consensus rating of “Moderate Buy” and a consensus target price of $67.67.

TPG Stock Performance

Shares of NASDAQ TPG opened at $43.04 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average price is $59.60 and its two-hundred day moving average price is $59.34. TPG has a 52-week low of $37.52 and a 52-week high of $70.38. The stock has a market capitalization of $16.27 billion, a P/E ratio of 97.82, a P/E/G ratio of 0.63 and a beta of 1.50.

TPG (NASDAQ:TPG) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.20. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $548.40 million. TPG had a return on equity of 26.02% and a net margin of 3.95%.The business’s quarterly revenue was up 35.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. As a group, sell-side analysts forecast that TPG will post 2.52 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TPG. Darlington Partners Capital Management LP bought a new stake in TPG during the second quarter worth approximately $258,581,000. Millennium Management LLC increased its position in shares of TPG by 66.9% during 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. Norges Bank acquired a new position in shares of TPG during the 4th quarter valued at $106,755,000. Bank of America Corp DE raised its stake in shares of 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 in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of TPG in the second quarter valued at $54,088,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

About TPG

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.