TPG (NASDAQ:TPG) Trading Up 4.6% – Here’s Why

TPG Inc. (NASDAQ:TPG) shares were up 4.6% during mid-day trading on Wednesday . The stock traded as high as $71.01 and last traded at $70.79. Approximately 52,886 shares were traded during trading, a decline of 94% from the average daily volume of 893,123 shares. The stock had previously closed at $67.67.

Analysts Set New Price Targets

Several research firms have recently weighed in on TPG. Evercore ISI boosted their target price on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Morgan Stanley upped their price objective on TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. TD Cowen decreased their price target on TPG from $62.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft raised their price objective on TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group raised their target price on TPG from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $58.83.

TPG Trading Up 4.0 %

The company has a 50 day simple moving average of $66.02 and a 200 day simple moving average of $53.78. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $25.68 billion, a PE ratio of -199.03, a P/E/G ratio of 1.14 and a beta of 1.46.

TPG (NASDAQ:TPG) last released its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. TPG had a return on equity of 23.45% and a net margin of 0.69%. The firm had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. During the same period last year, the business posted $0.56 EPS. Analysts predict that TPG Inc. will post 1.95 earnings per share for the current fiscal year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, November 14th. TPG’s payout ratio is currently -447.06%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new position in shares of TPG during the second quarter worth approximately $25,000. Signaturefd LLC boosted its holdings in 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 in the last quarter. Covestor Ltd boosted its holdings in TPG by 1,128.3% in the third quarter. Covestor Ltd now owns 1,867 shares of the company’s stock worth $107,000 after purchasing an additional 1,715 shares in the last quarter. KBC Group NV boosted its holdings in TPG by 25.1% during the third quarter. KBC Group NV now owns 2,405 shares of the company’s stock valued at $138,000 after acquiring an additional 482 shares during the period. Finally, Quarry LP lifted its stake in shares of TPG by 136.2% in the third quarter. Quarry LP now owns 3,201 shares of the company’s stock valued at $184,000 after buying an additional 1,846 shares during the period. Institutional investors and hedge funds own 94.03% 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.