TPG (NASDAQ:TPG) Price Target Raised to $61.00

TPG (NASDAQ:TPG) had its price objective hoisted by equities researchers at TD Cowen from $60.00 to $61.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen‘s price objective would indicate a potential upside of 30.68% from the stock’s current price.

TPG has been the subject of several other research reports. UBS Group lifted their price objective on shares of TPG from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. BMO Capital Markets decreased their price target on TPG from $56.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday. Citizens Jmp lowered their target price on TPG from $75.00 to $68.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $62.00 target price on shares of TPG in a research note on Wednesday, August 5th. Finally, Morgan Stanley lowered their target price on TPG from $60.00 to $54.00 and set an “equal weight” rating for the company in a report on Tuesday, July 21st. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.07.

TPG Stock Down 2.6%

Shares of NASDAQ:TPG traded down $1.26 during trading on Friday, hitting $46.68. 2,662,827 shares of the company were exchanged, compared to its average volume of 2,959,500. The firm has a fifty day moving average price of $47.09 and a two-hundred day moving average price of $45.97. TPG has a fifty-two week low of $36.95 and a fifty-two week high of $70.38. The stock has a market cap of $17.94 billion, a price-to-earnings ratio of 70.73, a P/E/G ratio of 0.84 and a beta of 1.49. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.63.

TPG (NASDAQ:TPG) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. TPG had a return on equity of 28.10% and a net margin of 4.67%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $624.66 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. The business’s revenue was up 25.3% compared to the same quarter last year. As a group, research analysts anticipate that TPG will post 2.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TPG. CX Institutional lifted its holdings in shares of TPG by 481.4% during the 2nd quarter. CX Institutional now owns 657 shares of the company’s stock worth $27,000 after acquiring an additional 544 shares during the last quarter. Provenance Wealth Advisors LLC bought a new position in TPG in the third quarter worth $36,000. Mather Group LLC. purchased a new position in shares of TPG during the third quarter valued at approximately $45,000. Leonteq Securities AG bought a new position in TPG in the 1st quarter worth about $81,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of TPG by 2,986.6% in the 1st quarter. Sunbelt Securities Inc. now owns 2,068 shares of the company’s stock worth $84,000 after purchasing an additional 2,001 shares in the last quarter. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

TPG News Summary

Here are the key news stories impacting TPG this week:

• Positive Sentiment: Third-quarter earnings exceeded expectations. TPG reported adjusted EPS of $0.65, ahead of the $0.63 consensus estimate and up from $0.53 a year earlier. Revenue rose 25.3% year over year to $1.22 billion, substantially above analysts’ estimates. TPG Inc. Surpasses Q3 Earnings and Revenue Estimates
• Positive Sentiment: Fundraising outlook remains strong. TPG reportedly expects to raise a record $55 billion this year, suggesting continued demand for its investment products and potential support for future fee-related earnings. TPG Expects to Haul In Record $55 Billion This Year
• Positive Sentiment: Analysts raised their price targets. RBC lifted its target to $68 and reiterated “outperform,” Barclays raised its target to $61 with an “overweight” rating, and Wells Fargo increased its target to $52 while maintaining an “equal weight” view. RBC TPG rating
• Neutral Sentiment: TPG is expanding into new investment themes. The firm launched a $10 billion climate fund and is reportedly considering the approximately $5 billion acquisition of Ark Data Centres, potentially increasing exposure to climate infrastructure and data centers but also requiring substantial capital. TPG Rolls Out $10 Billion Climate Fund
• Negative Sentiment: The quarterly dividend was reduced. TPG declared a $0.55-per-share dividend, down from $0.59 previously, a 6.8% cut. Although the annualized yield remains about 4.6%, the reduction may concern income-focused investors. TPG Declares Quarterly Dividend

About TPG

TPG Inc is a global alternative asset management firm that invests across a range of strategies, including private equity, growth equity, impact investing, real estate, infrastructure, credit and secondaries. The company partners with businesses and management teams to provide capital, strategic guidance and operational support.

TPG manages investment funds for institutional investors and other clients, with a focus on sectors such as technology, healthcare, consumer products and services, financial services, and business services.