TD Cowen Has Lowered Expectations for TPG (NASDAQ:TPG) Stock Price

TPG (NASDAQ:TPG) had its target price reduced by TD Cowen from $62.00 to $58.00 in a report released on Wednesday morning, Benzinga reports. TD Cowen currently has a hold rating on the stock.

Other equities research analysts have also issued reports about the company. Evercore ISI lifted their price target on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on TPG from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price target on TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price target on TPG from $67.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, BMO Capital Markets lifted their price target on TPG from $45.00 to $60.00 and gave the company a “market perform” rating in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $57.50.

TPG Price Performance

Shares of TPG stock opened at $67.79 on Wednesday. The firm has a market cap of $24.73 billion, a P/E ratio of -199.38, a P/E/G ratio of 0.98 and a beta of 1.49. TPG has a fifty-two week low of $29.63 and a fifty-two week high of $69.86. The business’s 50 day moving average price is $59.31 and its 200-day moving average price is $49.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25.

TPG (NASDAQ:TPG) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. The firm had revenue of $855.40 million for the quarter, compared to analyst estimates of $449.98 million. TPG had a return on equity of 23.57% and a net margin of 0.69%. During the same period last year, the company earned $0.56 EPS. On average, equities research analysts anticipate that TPG will post 1.96 earnings per share for the current year.

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, November 14th. TPG’s dividend payout ratio (DPR) is -494.10%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its stake in shares of TPG by 21.3% in the third quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock worth $62,000 after purchasing an additional 188 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of TPG by 3.3% in the second quarter. Commonwealth Equity Services LLC now owns 7,132 shares of the company’s stock worth $296,000 after purchasing an additional 230 shares during the last quarter. KBC Group NV raised its stake in shares of TPG by 25.1% in the third quarter. KBC Group NV now owns 2,405 shares of the company’s stock worth $138,000 after purchasing an additional 482 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of TPG by 7.2% in the first quarter. Janney Montgomery Scott LLC now owns 7,410 shares of the company’s stock worth $331,000 after purchasing an additional 500 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of TPG in the second quarter worth $25,000. Hedge funds and other institutional investors own 86.79% of the company’s stock.

TPG Company Profile

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.