TPG (NASDAQ:TPG) Upgraded to “Strong-Buy” at BMO Capital Markets

BMO Capital Markets upgraded shares of TPG (NASDAQ:TPG) to a strong-buy rating in a report released on Thursday,Zacks.com reports.

TPG has been the topic of a number of other reports. BNP Paribas Exane upgraded shares of TPG from a “neutral” rating to an “outperform” rating and set a $69.00 target price on the stock in a report on Wednesday, July 30th. Citigroup boosted their target price on shares of TPG from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, July 10th. BNP Paribas upgraded shares of TPG to a “strong-buy” rating in a report on Wednesday, July 30th. Evercore ISI boosted their target price on shares of TPG from $52.00 to $60.00 and gave the stock an “in-line” rating in a report on Friday, August 8th. Finally, The Goldman Sachs Group boosted their target price on shares of TPG from $61.00 to $69.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TPG presently has an average rating of “Moderate Buy” and a consensus price target of $62.07.

TPG Stock Performance

Shares of TPG stock opened at $58.51 on Thursday. The company’s fifty day simple moving average is $60.30 and its 200-day simple moving average is $53.21. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.45. The firm has a market cap of $22.11 billion, a PE ratio of -307.95, a P/E/G ratio of 1.18 and a beta of 1.53. TPG has a 12 month low of $37.52 and a 12 month high of $72.98.

TPG (NASDAQ:TPG) last issued its earnings results on Wednesday, August 6th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.24. The business had revenue of $495.12 million for the quarter, compared to the consensus estimate of $470.57 million. TPG had a net margin of 1.60% and a return on equity of 25.79%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 earnings per share. Equities research analysts expect that TPG will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 18th were issued a $0.59 dividend. This is an increase from TPG’s previous quarterly dividend of $0.41. This represents a $2.36 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, August 18th. TPG’s dividend payout ratio is presently -1,242.11%.

Insider Activity at TPG

In other TPG news, Director Deborah M. Messemer sold 1,796 shares of the company’s stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $56.32, for a total value of $101,150.72. Following the transaction, the director directly owned 16,807 shares in the company, valued at $946,570.24. The trade was a 9.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 69.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TPG

A number of institutional investors have recently modified their holdings of TPG. Osaic Holdings Inc. lifted its holdings in shares of TPG by 12.1% in the second quarter. Osaic Holdings Inc. now owns 2,173 shares of the company’s stock worth $114,000 after acquiring an additional 234 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of TPG by 3.1% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,828 shares of the company’s stock worth $411,000 after acquiring an additional 238 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in shares of TPG by 3.1% in the second quarter. Lazard Asset Management LLC now owns 7,828 shares of the company’s stock worth $410,000 after acquiring an additional 238 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of TPG by 3.0% in the second quarter. QRG Capital Management Inc. now owns 8,251 shares of the company’s stock worth $433,000 after acquiring an additional 241 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of TPG by 27.0% in the first quarter. Signaturefd LLC now owns 1,443 shares of the company’s stock worth $68,000 after acquiring an additional 307 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

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.