TPG (NASDAQ:TPG) Reaches New 52-Week High at $52.97

TPG Inc. (NASDAQ:TPG) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $52.97 and last traded at $52.74, with a volume of 163819 shares traded. The stock had previously closed at $51.19.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Wells Fargo & Company initiated coverage on TPG in a report on Thursday. They set an “overweight” rating and a $60.00 price target on the stock. Finally, TD Cowen cut their price objective on shares of TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday, July 8th. Six research 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.83.

TPG Trading Up 3.8 %

The company has a market cap of $19.37 billion, a PE ratio of -365.64, a PEG ratio of 0.83 and a beta of 1.52. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25. The company has a 50 day simple moving average of $47.41 and a two-hundred day simple moving average of $44.72.

TPG (NASDAQ:TPG) last issued its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.06. TPG had a net margin of 1.08% and a return on equity of 24.27%. The company had revenue of $744.19 million during the quarter, compared to analyst estimates of $449.34 million. During the same quarter last year, the business posted $0.26 EPS. Sell-side analysts forecast that TPG Inc. will post 2.01 EPS for the current year.

TPG Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from TPG’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 3.16%. TPG’s payout ratio is -1,200.00%.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,089 shares of the company’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $46.55, for a total transaction of $190,342.95. Following the completion of the sale, the director now owns 17,536 shares in the company, valued at approximately $816,300.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 76.48% of the stock is owned by insiders.

Institutional Investors Weigh In On TPG

A number of institutional investors have recently added to or reduced their stakes in TPG. Ghisallo Capital Management LLC acquired a new stake in TPG in the 2nd quarter valued at $5,181,000. Creative Planning lifted its holdings in shares of TPG by 25.0% during the second quarter. Creative Planning now owns 6,933 shares of the company’s stock valued at $287,000 after acquiring an additional 1,388 shares during the period. Algert Global LLC acquired a new stake in shares of TPG in the 2nd quarter valued at $290,000. The Manufacturers Life Insurance Company grew its holdings in shares of TPG by 13.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,773 shares of the company’s stock worth $820,000 after purchasing an additional 2,313 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of TPG by 32.4% during the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock worth $156,188,000 after purchasing an additional 922,571 shares in the last quarter. 86.79% of the stock is 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.