TPG (NASDAQ:TPG) Upgraded to “Moderate Buy” at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of TPG (NASDAQ:TPG) to a moderate buy rating in a research note published on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. Citigroup raised shares of TPG to an “outperform” rating in a research note on Monday, February 9th. The Goldman Sachs Group reiterated a “buy” rating and issued a $80.00 target price on shares of TPG in a research report on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of TPG in a research report on Monday, December 29th. Wolfe Research reiterated an “outperform” rating and issued a $80.00 price objective on shares of TPG in a report on Wednesday, January 7th. Finally, UBS Group reduced their price objective on TPG from $83.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.67.

TPG Price Performance

TPG stock opened at $43.04 on Monday. The stock has a market cap of $16.27 billion, a price-to-earnings ratio of 97.82, a PEG ratio of 0.63 and a beta of 1.50. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.42. The business has a 50-day simple moving average of $59.60 and a 200 day simple moving average of $59.34. TPG has a 52 week low of $37.52 and a 52 week high of $70.38.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.20. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $548.40 million. TPG had a return on equity of 26.02% and a net margin of 3.95%.The company’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter last year, the company posted $0.62 EPS. On average, research analysts forecast that TPG will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 5th. Stockholders of record on Thursday, February 19th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 5.7%. This is an increase from TPG’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, February 19th. TPG’s payout ratio is 554.55%.

Institutional Investors Weigh In On TPG

Several institutional investors have recently bought and sold shares of TPG. Vanguard Group Inc. grew its position in TPG by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 12,700,928 shares of the company’s stock worth $810,827,000 after acquiring an additional 314,295 shares during the last quarter. Capital International Investors boosted its stake in shares of TPG by 0.4% during the fourth quarter. Capital International Investors now owns 11,734,677 shares of the company’s stock valued at $749,142,000 after purchasing an additional 52,213 shares during the period. Darlington Partners Capital Management LP purchased a new stake in shares of TPG during the second quarter valued at approximately $258,581,000. Millennium Management LLC grew its holdings 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 worth $292,689,000 after purchasing an additional 1,837,799 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of TPG by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 4,058,146 shares of the company’s stock worth $259,102,000 after buying an additional 216,359 shares during the period. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

About TPG

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.