TPG (NASDAQ:TPG – Free Report) had its price objective hoisted by Morgan Stanley from $55.00 to $73.00 in a research note published on Thursday, Benzinga reports. They currently have an overweight rating on the stock.
TPG has been the topic of several other research reports. The Goldman Sachs Group boosted their target price on TPG from $60.00 to $63.00 and gave the company a buy rating in a research note on Thursday, October 3rd. TD Cowen cut their target price on TPG from $44.00 to $42.00 and set a hold rating on the stock in a research note on Monday, July 8th. Wells Fargo & Company boosted their target price on TPG from $60.00 to $67.00 and gave the company an overweight rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on TPG from $44.00 to $49.00 and gave the company a neutral rating in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, TPG currently has an average rating of Moderate Buy and a consensus target price of $51.55.
Get Our Latest Stock Report on TPG
TPG Stock Performance
TPG (NASDAQ:TPG – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.06. The business had revenue of $744.19 million for the quarter, compared to analysts’ expectations of $449.34 million. TPG had a return on equity of 24.27% and a net margin of 1.08%. During the same quarter in the previous year, the business posted $0.26 EPS. Research analysts anticipate that TPG will post 1.99 earnings per share for the current fiscal year.
TPG Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.42 per share. This is a positive change from TPG’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.68 annualized dividend and a dividend yield of 2.78%. TPG’s payout ratio is -479.99%.
Insiders Place Their Bets
In related news, Director Deborah M. Messemer sold 4,089 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $46.55, for a total transaction of $190,342.95. Following the transaction, the director now directly owns 17,536 shares of the company’s stock, valued at approximately $816,300.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 76.48% of the company’s stock.
Institutional Investors Weigh In On TPG
A number of large investors have recently added to or reduced their stakes in TPG. Virtu Financial LLC bought a new stake in TPG in the 4th quarter valued at $203,000. Vanguard Group Inc. raised its stake in TPG by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 6,050,481 shares of the company’s stock valued at $261,199,000 after acquiring an additional 320,972 shares during the period. Renaissance Capital LLC raised its stake in TPG by 15.0% in the 1st quarter. Renaissance Capital LLC now owns 47,121 shares of the company’s stock valued at $2,106,000 after acquiring an additional 6,143 shares during the period. Oak Thistle LLC bought a new stake in TPG in the 1st quarter valued at $451,000. Finally, Principal Financial Group Inc. increased its position in TPG by 18.9% during the 1st quarter. Principal Financial Group Inc. now owns 6,291 shares of the company’s stock worth $281,000 after buying an additional 1,000 shares during the period. Institutional investors own 86.79% 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.
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