Wells Fargo & Company Issues Positive Forecast for TPG (NASDAQ:TPG) Stock Price

TPG (NASDAQ:TPG) had its price objective increased by Wells Fargo & Company from $67.00 to $68.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. lifted their target price on TPG from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Evercore ISI boosted their price objective on shares of TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of TPG from $65.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday. TD Cowen dropped their price objective on TPG from $44.00 to $42.00 and set a “hold” rating on the stock in a research note on Monday, July 8th. Finally, Morgan Stanley lifted their target price on TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.17.

TPG Stock Down 1.5 %

Shares of NASDAQ:TPG opened at $60.88 on Tuesday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. TPG has a 12 month low of $28.93 and a 12 month high of $69.86. The firm’s 50-day moving average is $58.74 and its 200 day moving average is $49.27.

TPG (NASDAQ:TPG) last released its earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45. TPG had a return on equity of 23.57% and a net margin of 0.69%. The firm had revenue of $855.40 million for the quarter, compared to analysts’ expectations of $449.98 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. As a group, sell-side analysts expect that TPG will post 1.96 earnings per share for the current fiscal year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.50%. TPG’s payout ratio is -494.10%.

Hedge Funds Weigh In On TPG

Several institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its position in shares of TPG by 21.3% in the 3rd quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock worth $62,000 after purchasing an additional 188 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in TPG by 3.3% in the second quarter. Commonwealth Equity Services LLC now owns 7,132 shares of the company’s stock valued at $296,000 after buying an additional 230 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in TPG by 7.2% in the first quarter. Janney Montgomery Scott LLC now owns 7,410 shares of the company’s stock worth $331,000 after acquiring an additional 500 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of TPG during the second quarter worth about $25,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of TPG by 5.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,430 shares of the company’s stock valued at $556,000 after acquiring an additional 680 shares in the last quarter. 86.79% 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.