TPG (NASDAQ:TPG) Stock Rating Upgraded by Morgan Stanley

TPG (NASDAQ:TPG) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a $52.00 price objective on the stock, up from their previous price objective of $43.00. Morgan Stanley’s target price points to a potential upside of 21.13% from the company’s previous close.

Several other research analysts have also recently issued reports on TPG. BMO Capital Markets reissued a “market perform” rating and set a $42.00 price target (up from $36.00) on shares of TPG in a report on Wednesday, February 14th. UBS Group increased their target price on TPG from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Jefferies Financial Group decreased their price target on TPG from $46.00 to $44.00 and set a “hold” rating on the stock in a research note on Thursday. Wells Fargo & Company raised their target price on TPG from $38.00 to $43.00 and gave the company an “equal weight” rating in a report on Wednesday, February 14th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of TPG in a report on Monday, April 1st. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.11.

TPG Stock Down 1.4 %

TPG opened at $42.93 on Friday. The business has a 50 day moving average price of $44.34 and a two-hundred day moving average price of $40.40. TPG has a 52 week low of $24.74 and a 52 week high of $47.20. The company has a market cap of $15.66 billion, a PE ratio of -1,073.25, a P/E/G ratio of 0.75 and a beta of 1.60. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.28.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.06. The firm had revenue of $512.30 million during the quarter, compared to the consensus estimate of $452.87 million. TPG had a return on equity of 18.69% and a net margin of 3.35%. The company’s revenue for the quarter was up 64.5% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. As a group, research analysts anticipate that TPG will post 2.09 EPS for the current year.

Insider Buying and Selling at TPG

In related news, CAO Martin Davidson sold 39,317 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $41.64, for a total transaction of $1,637,159.88. Following the transaction, the chief accounting officer now directly owns 30,991 shares in the company, valued at $1,290,465.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Martin Davidson sold 39,317 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $41.64, for a total transaction of $1,637,159.88. Following the completion of the transaction, the chief accounting officer now owns 30,991 shares of the company’s stock, valued at $1,290,465.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman James G. Coulter sold 16,949 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $41.64, for a total transaction of $705,756.36. Following the sale, the chairman now directly owns 386,936 shares of the company’s stock, valued at $16,112,015.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,434,129 shares of company stock worth $101,357,132. Corporate insiders own 78.72% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of TPG by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 6,050,481 shares of the company’s stock valued at $261,199,000 after purchasing an additional 320,972 shares during the period. Massachusetts Financial Services Co. MA grew its stake in TPG by 18.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,956,548 shares of the company’s stock valued at $127,634,000 after purchasing an additional 462,355 shares in the last quarter. Putnam Investments LLC increased its holdings in TPG by 8.6% during the 4th quarter. Putnam Investments LLC now owns 2,362,082 shares of the company’s stock worth $101,971,000 after purchasing an additional 187,183 shares during the last quarter. TimesSquare Capital Management LLC raised its position in shares of TPG by 11.6% in the 3rd quarter. TimesSquare Capital Management LLC now owns 2,211,111 shares of the company’s stock valued at $66,599,000 after purchasing an additional 229,481 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of TPG during the 4th quarter valued at approximately $52,189,000. 86.79% of the stock is owned by hedge funds and other institutional investors.

About TPG

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.