TPG (NASDAQ:TPG) Price Target Lowered to $68.00 at Bank of America

TPG (NASDAQ:TPG) had its price objective lowered by Bank of America from $72.00 to $68.00 in a report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

TPG has been the subject of several other reports. Wells Fargo & Company cut their target price on shares of TPG from $78.00 to $66.00 and set an “overweight” rating for the company in a research note on Thursday, March 20th. Evercore ISI lifted their target price on TPG from $65.00 to $66.00 and gave the stock an “in-line” rating in a report on Wednesday, February 12th. JMP Securities reissued a “market perform” rating on shares of TPG in a research note on Thursday, February 13th. The Goldman Sachs Group cut their price target on TPG from $70.00 to $63.00 and set a “buy” rating for the company in a report on Thursday. Finally, Keefe, Bruyette & Woods upped their price objective on TPG from $62.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $62.42.

TPG Stock Performance

NASDAQ TPG opened at $40.99 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36. TPG has a twelve month low of $37.52 and a twelve month high of $72.98. The business has a 50-day moving average price of $54.99 and a 200-day moving average price of $61.48. The firm has a market cap of $15.14 billion, a price-to-earnings ratio of -93.16, a price-to-earnings-growth ratio of 0.80 and a beta of 1.54.

TPG (NASDAQ:TPG) last posted its quarterly earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. As a group, equities research analysts predict that TPG will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Friday, February 21st. This is a boost from TPG’s previous quarterly dividend of $0.38. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.17%. TPG’s payout ratio is currently -481.82%.

Insider Buying and Selling

In other TPG news, General Counsel Bradford Berenson sold 2,509 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total value of $125,550.36. Following the transaction, the general counsel now owns 290,841 shares of the company’s stock, valued at $14,553,683.64. This represents a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Deborah M. Messemer sold 1,695 shares of TPG stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $61.91, for a total value of $104,937.45. Following the sale, the director now owns 15,841 shares of the company’s stock, valued at approximately $980,716.31. This trade represents a 9.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 76.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TPG

A number of institutional investors have recently modified their holdings of TPG. ORG Wealth Partners LLC bought a new position in TPG in the fourth quarter worth approximately $33,000. Versant Capital Management Inc grew its position in shares of TPG by 12,263.6% during the 1st quarter. Versant Capital Management Inc now owns 1,360 shares of the company’s stock worth $65,000 after buying an additional 1,349 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in shares of TPG during the fourth quarter valued at $67,000. Comerica Bank raised its holdings in shares of TPG by 71.4% in the fourth quarter. Comerica Bank now owns 1,080 shares of the company’s stock valued at $68,000 after acquiring an additional 450 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of TPG in the fourth quarter valued at about $97,000. 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.