TPG (NASDAQ:TPG) Price Target Lowered to $42.00 at TD Cowen

TPG (NASDAQ:TPG) had its price target cut by TD Cowen from $65.00 to $42.00 in a research note published on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages have also recently issued reports on TPG. The Goldman Sachs Group dropped their target price on TPG from $70.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. BMO Capital Markets increased their price target on shares of TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods raised their price target on shares of TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Citigroup reduced their price objective on shares of TPG from $72.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Bank of America lowered their target price on shares of TPG from $72.00 to $68.00 and set a “buy” rating for the company in a research note on Friday, April 4th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.62.

TPG Trading Down 7.6 %

TPG stock traded down $3.50 during trading hours on Wednesday, hitting $42.37. The company had a trading volume of 566,266 shares, compared to its average volume of 1,081,054. TPG has a 1 year low of $37.52 and a 1 year high of $72.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.25 and a current ratio of 0.18. The company has a 50-day moving average price of $52.55 and a two-hundred day moving average price of $60.93. The firm has a market cap of $15.65 billion, a P/E ratio of -96.41, a P/E/G ratio of 0.80 and a beta of 1.58.

TPG (NASDAQ:TPG) last posted its earnings results on Tuesday, February 11th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates 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 anticipate that TPG will post 2.52 earnings per share for the current year.

TPG Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 21st were paid a $0.53 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.12 dividend on an annualized basis and a yield of 5.00%. This is a boost from TPG’s previous quarterly dividend of $0.38. TPG’s dividend payout ratio (DPR) is currently -481.82%.

Insiders Place Their Bets

In other TPG news, Director Deborah M. Messemer sold 1,695 shares of TPG stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $61.91, for a total transaction of $104,937.45. Following the completion of the sale, the director now directly owns 15,841 shares in the company, valued at $980,716.31. This trade represents a 9.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Bradford Berenson sold 2,509 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total transaction of $125,550.36. Following the completion of the transaction, the general counsel now owns 290,841 shares in the company, valued at approximately $14,553,683.64. This represents a 0.86 % 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 company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of TPG by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 8,266,047 shares of the company’s stock valued at $519,438,000 after buying an additional 162,107 shares during the period. Capital World Investors increased its stake in TPG by 484.6% during the fourth 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 period. Franklin Resources Inc. lifted its position in shares of TPG by 10.1% during the third quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company’s stock worth $161,921,000 after purchasing an additional 244,373 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of TPG by 43.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,253,070 shares of the company’s stock valued at $141,584,000 after purchasing an additional 683,572 shares during the period. Finally, Millennium Management LLC grew its holdings 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 purchasing an additional 898,943 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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.