The Goldman Sachs Group Cuts TPG (NASDAQ:TPG) Price Target to $63.00

TPG (NASDAQ:TPG) had its price target lowered by The Goldman Sachs Group from $70.00 to $63.00 in a report issued on Thursday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on TPG. JMP Securities reissued a “market perform” rating on shares of TPG in a research report on Thursday, February 13th. Wells Fargo & Company reduced their price objective on TPG from $78.00 to $66.00 and set an “overweight” rating for the company in a report on Thursday, March 20th. Evercore ISI raised their target price on TPG from $65.00 to $66.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods upped their price target on TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, BMO Capital Markets lifted their price objective on TPG from $60.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Seven 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.com, TPG presently has a consensus rating of “Hold” and a consensus price target of $62.42.

TPG Stock Down 3.2 %

TPG stock opened at $40.99 on Thursday. The stock has a market cap of $15.14 billion, a P/E ratio of -93.16, a P/E/G ratio of 0.80 and a beta of 1.58. 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 stock’s fifty day simple moving average is $54.99 and its two-hundred day simple moving average is $61.51. TPG has a 1-year low of $37.52 and a 1-year high of $72.98.

TPG (NASDAQ:TPG) last released its earnings results on Tuesday, February 11th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. Analysts expect that TPG will post 2.52 EPS for the current year.

TPG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were given a $0.53 dividend. This is a positive change from TPG’s previous quarterly dividend of $0.38. This represents a $2.12 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend was Friday, February 21st. TPG’s dividend payout ratio (DPR) is -481.82%.

Insider Activity at TPG

In other TPG news, General Counsel Bradford Berenson sold 2,509 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $104,937.45. Following the sale, the director now owns 15,841 shares of the company’s stock, valued at approximately $980,716.31. This trade represents a 9.67 % decrease in their position. The disclosure for this sale can be found here. 76.48% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TPG

A number of institutional investors and hedge funds have recently bought and sold shares of TPG. Versant Capital Management Inc grew its stake in TPG by 12,263.6% in the 1st quarter. Versant Capital Management Inc now owns 1,360 shares of the company’s stock worth $65,000 after buying an additional 1,349 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of TPG by 2.5% during the 4th quarter. California State Teachers Retirement System now owns 72,575 shares of the company’s stock worth $4,561,000 after acquiring an additional 1,760 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in TPG in the fourth quarter worth $67,000. Two Sigma Advisers LP bought a new position in TPG in the fourth quarter valued at $270,000. Finally, Two Sigma Investments LP raised its position in TPG by 33.6% during the fourth quarter. Two Sigma Investments LP now owns 141,797 shares of the company’s stock valued at $8,911,000 after purchasing an additional 35,662 shares in the last quarter. 94.03% of the stock is owned by hedge funds and other 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.