TPG (NASDAQ:TPG) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

TPG (NASDAQ:TPG) issued its quarterly earnings data on Tuesday. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.06, Briefing.com reports. The firm had revenue of $744.19 million during the quarter, compared to analysts’ expectations of $449.34 million. TPG had a return on equity of 21.16% and a net margin of 2.74%. During the same period in the previous year, the firm posted $0.26 earnings per share.

TPG Stock Up 3.4 %

Shares of NASDAQ:TPG traded up $1.44 during trading on Wednesday, hitting $44.39. The company’s stock had a trading volume of 382,926 shares, compared to its average volume of 843,008. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25. TPG has a fifty-two week low of $26.03 and a fifty-two week high of $51.62. The stock’s 50-day moving average price is $43.40 and its two-hundred day moving average price is $43.60. The company has a market capitalization of $16.19 billion, a PE ratio of -317.07, a PEG ratio of 0.80 and a beta of 1.53.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, August 16th. This is a boost from TPG’s previous quarterly dividend of $0.41. TPG’s payout ratio is currently -1,171.43%.

Wall Street Analyst Weigh In

TPG has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday. JMP Securities reissued a “market perform” rating on shares of TPG in a research report on Tuesday, April 9th. UBS Group lifted their price objective on TPG from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, April 12th. TD Cowen lowered their price objective on TPG from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, July 8th. Finally, Morgan Stanley raised TPG from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $43.00 to $52.00 in a research report on Friday, May 10th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TPG currently has an average rating of “Hold” and a consensus price target of $44.42.

Insider Buying and Selling

In other TPG news, Director Deborah M. Messemer sold 4,089 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $46.55, for a total transaction of $190,342.95. Following the sale, the director now owns 17,536 shares in the company, valued at $816,300.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 76.48% of the company’s stock.

About TPG

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.