TPG’s (TPG) “Equal Weight” Rating Reiterated at Morgan Stanley

Morgan Stanley reaffirmed their equal weight rating on shares of TPG (NASDAQ:TPG) in a research note issued to investors on Monday morning, MarketBeat reports. The brokerage currently has a $47.00 target price on the stock, down from their previous target price of $80.00.

A number of other analysts have also issued reports on TPG. The Goldman Sachs Group lowered their target price on TPG from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Wells Fargo & Company lowered their price objective on shares of TPG from $66.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Evercore ISI upped their target price on shares of TPG from $65.00 to $66.00 and gave the company an “in-line” rating in a research note on Wednesday, February 12th. TD Cowen decreased their price target on shares of TPG from $65.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Finally, Bank of America cut their price objective on shares of TPG from $72.00 to $68.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, TPG presently has an average rating of “Hold” and a consensus price target of $58.25.

TPG Price Performance

Shares of TPG stock opened at $43.50 on Monday. The company has a current ratio of 0.18, a quick ratio of 0.25 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $50.58 and a 200-day simple moving average of $60.43. The stock has a market capitalization of $16.07 billion, a price-to-earnings ratio of -98.86, a PEG ratio of 0.80 and a beta of 1.58. TPG has a 1-year low of $37.52 and a 1-year high of $72.98.

TPG (NASDAQ:TPG) last announced its earnings results on Tuesday, February 11th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.52 by $0.10. TPG had a net margin of 0.67% and a return on equity of 24.66%. On average, sell-side analysts expect that TPG will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a $0.53 dividend. This is a positive change from TPG’s previous quarterly dividend of $0.38. This represents a $2.12 annualized dividend and a dividend yield of 4.87%. The ex-dividend date was Friday, February 21st. TPG’s dividend payout ratio is currently -481.82%.

Insider Transactions at TPG

In related news, General Counsel Bradford Berenson sold 2,509 shares of the business’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 sale, the general counsel now owns 290,841 shares of the company’s stock, valued at $14,553,683.64. The trade was a 0.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 76.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TPG. Capital World Investors grew its holdings in shares of TPG by 484.6% in the 4th quarter. Capital World Investors now owns 3,065,321 shares of the company’s stock worth $192,625,000 after purchasing an additional 2,541,013 shares during the last quarter. Norges Bank bought a new stake in TPG during the fourth quarter worth about $100,675,000. JPMorgan Chase & Co. grew its stake in TPG by 2,515.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,659,703 shares of the company’s stock worth $104,296,000 after buying an additional 1,596,254 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of TPG by 146.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company’s stock worth $96,166,000 after buying an additional 992,818 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of TPG by 66.8% in the fourth quarter. Millennium Management LLC now owns 2,243,815 shares of the company’s stock valued at $141,001,000 after acquiring an additional 898,943 shares during the last quarter. 94.03% of the stock is owned by institutional investors.

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.