Bank of America Cuts TPG (NASDAQ:TPG) Price Target to $68.00

TPG (NASDAQ:TPG) had its price target reduced by Bank of America from $72.00 to $68.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of TPG from $78.00 to $66.00 and set an “overweight” rating on the stock in a research report on Thursday, March 20th. BMO Capital Markets upped their price objective on TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, December 19th. The Goldman Sachs Group dropped their target price on TPG from $70.00 to $63.00 and set a “buy” rating for the company in a report on Thursday. JMP Securities restated a “market perform” rating on shares of TPG in a report on Thursday, February 13th. Finally, Evercore ISI lifted their price objective on shares of TPG from $65.00 to $66.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, TPG has an average rating of “Hold” and an average price target of $62.42.

TPG Stock Down 3.2 %

TPG opened at $40.99 on Friday. TPG has a 52 week low of $37.52 and a 52 week high of $72.98. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36. The firm has a 50-day simple moving average of $54.99 and a two-hundred day simple moving average of $61.54. The company has a market capitalization of $15.14 billion, a PE ratio of -93.16, a price-to-earnings-growth ratio of 0.80 and a beta of 1.58.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. Analysts forecast that TPG will post 2.52 earnings per share for the current fiscal year.

TPG Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were paid a $0.53 dividend. This is an increase from TPG’s previous quarterly dividend of $0.38. This represents a $2.12 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date was Friday, February 21st. TPG’s dividend payout ratio is currently -481.82%.

Insider Activity

In other news, Director Deborah M. Messemer sold 1,695 shares of the business’s 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 completion of the sale, the director now owns 15,841 shares in the company, valued at approximately $980,716.31. The trade was a 9.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the general counsel now directly 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 disclosure for this sale can be found here. Insiders own 76.48% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TPG. The Manufacturers Life Insurance Company boosted its position in TPG by 19.2% during the third quarter. The Manufacturers Life Insurance Company now owns 23,575 shares of the company’s stock valued at $1,357,000 after purchasing an additional 3,802 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of TPG by 5.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,705 shares of the company’s stock valued at $1,019,000 after buying an additional 965 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of TPG by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 322,991 shares of the company’s stock worth $18,591,000 after buying an additional 8,615 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of TPG during the 3rd quarter worth approximately $342,000. Finally, Quarry LP lifted its position in TPG by 136.2% during the third quarter. Quarry LP now owns 3,201 shares of the company’s stock valued at $184,000 after acquiring an additional 1,846 shares during the last quarter. 94.03% of the stock is currently 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.