TPG (NASDAQ:TPG) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of TPG (NASDAQ:TPG) in a report released on Friday morning, MarketBeat.com reports. The firm issued an equal weight rating and a $47.00 price target on the stock.

A number of other brokerages have also recently issued reports on TPG. BMO Capital Markets dropped their price objective on TPG from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, July 13th. Royal Bank Of Canada raised their target price on shares of TPG from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $62.00 target price on shares of TPG in a report on Wednesday, August 5th. Citigroup reiterated an “outperform” rating on shares of TPG in a research note on Thursday, July 9th. Finally, Barclays lifted their price objective on shares of TPG from $58.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.87.

TPG Price Performance

Shares of NASDAQ TPG opened at $44.67 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.31 and a quick ratio of 0.31. The business has a 50-day moving average of $48.69 and a 200-day moving average of $44.22. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 67.68, a PEG ratio of 0.74 and a beta of 1.49. TPG has a fifty-two week low of $36.95 and a fifty-two week high of $70.38.

TPG (NASDAQ:TPG) last released its earnings results on Tuesday, August 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.10. The business had revenue of $628.19 million for the quarter, compared to analyst estimates of $596.79 million. TPG had a return on equity of 28.10% and a net margin of 4.67%.TPG’s revenue was up 23.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 earnings per share. As a group, sell-side analysts predict that TPG will post 2.88 earnings per share for the current fiscal year.

TPG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.36 annualized dividend and a yield of 5.3%. TPG’s dividend payout ratio (DPR) is currently 357.58%.

Hedge Funds Weigh In On TPG

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TPG. Wellington Management Group LLP increased its position in TPG by 38.1% during the 2nd quarter. Wellington Management Group LLP now owns 11,019,487 shares of the company’s stock worth $446,840,000 after buying an additional 3,041,560 shares during the period. Jackson Brooke LLC acquired a new stake in shares of TPG during the second quarter worth $92,395,080. Junto Capital Management LP bought a new stake in shares of TPG in the second quarter valued at about $82,794,000. Millennium Management LLC boosted 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 acquiring an additional 1,837,799 shares during the period. Finally, Temasek Holdings Private Ltd grew its stake in shares of TPG by 14.1% in the first quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company’s stock valued at $406,239,000 after acquiring an additional 1,236,526 shares in the last quarter. 94.03% of the stock is owned by institutional investors.

TPG Company Profile

TPG Inc is a global alternative asset management firm that invests across private equity, growth equity, impact investing, real estate, and credit strategies. The company manages capital on behalf of institutional investors, sovereign wealth funds, family offices, and other clients, with investments spanning a range of industries and stages of business development.

TPG operates through investment platforms that include TPG Capital, TPG Growth, TPG Rise, TPG Real Estate, and TPG Angelo Gordon.