Brokerages Set TPG Inc. (NASDAQ:TPG) Target Price at $66.62

Shares of TPG Inc. (NASDAQ:TPG) have received a consensus rating of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $66.6154.

A number of analysts have recently commented on the company. Citigroup cut their target price on TPG from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. UBS Group set a $78.00 price target on TPG in a research note on Monday, October 6th. BMO Capital Markets began coverage on TPG in a research note on Friday, October 3rd. They issued an “outperform” rating and a $65.00 price objective for the company. Morgan Stanley increased their price objective on TPG from $58.00 to $63.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Finally, Zacks Research lowered shares of TPG from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 8th.

TPG Trading Up 1.6%

Shares of TPG stock opened at $59.12 on Thursday. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $56.96 and a 200-day simple moving average of $56.04. The stock has a market cap of $22.35 billion, a price-to-earnings ratio of 656.89, a PEG ratio of 1.08 and a beta of 1.52. TPG has a 12-month low of $37.52 and a 12-month high of $71.11.

TPG (NASDAQ:TPG) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). TPG had a return on equity of 25.79% and a net margin of 2.83%.The company had revenue of $509.40 million for the quarter, compared to analyst estimates of $510.32 million. During the same quarter in the prior year, the business earned $0.45 earnings per share. TPG’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts forecast that TPG will post 2.52 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, November 14th. TPG’s dividend payout ratio (DPR) is presently 2,000.00%.

Institutional Investors Weigh In On TPG

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of TPG during the second quarter worth about $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in TPG by 268.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock valued at $38,000 after acquiring an additional 524 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in TPG by 252.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 790 shares of the company’s stock worth $45,000 after acquiring an additional 566 shares during the period. GAMMA Investing LLC grew its stake in shares of TPG by 55.7% in the 2nd quarter. GAMMA Investing LLC now owns 945 shares of the company’s stock valued at $50,000 after purchasing an additional 338 shares during the last quarter. Finally, Optiver Holding B.V. purchased a new position in shares of TPG in the 3rd quarter valued at approximately $51,000. 94.03% 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.