Wells Fargo & Company Cuts TPG (NASDAQ:TPG) Price Target to $78.00

TPG (NASDAQ:TPG) had its price target reduced by Wells Fargo & Company from $83.00 to $78.00 in a report published on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities analysts have also recently weighed in on the company. BMO Capital Markets upped their price target on TPG from $60.00 to $73.00 and gave the stock a “market perform” rating in a report on Thursday, December 19th. Morgan Stanley increased 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. TD Cowen cut their price target on shares of TPG from $62.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday, November 6th. Keefe, Bruyette & Woods increased their price objective on shares of TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of TPG from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.58.

TPG Price Performance

Shares of NASDAQ TPG opened at $65.50 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.25 and a quick ratio of 0.25. The firm’s 50 day simple moving average is $66.58 and its 200-day simple moving average is $57.97. TPG has a 12 month low of $38.20 and a 12 month high of $72.98. The stock has a market capitalization of $23.91 billion, a price-to-earnings ratio of -192.64, a PEG ratio of 0.80 and a beta of 1.49.

TPG (NASDAQ:TPG) last released its quarterly earnings data on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. The company had revenue of $855.40 million during the quarter, compared to analysts’ expectations of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.45%. During the same quarter in the previous year, the company earned $0.56 earnings per share. Analysts expect that TPG will post 1.95 EPS for the current year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.32%. TPG’s payout ratio is -447.05%.

Insiders Place Their Bets

In other TPG news, Director Deborah M. Messemer sold 1,695 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was 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 directly owns 15,841 shares of the company’s stock, valued at $980,716.31. This trade represents a 9.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 76.48% of the company’s stock.

Institutional Investors Weigh In On TPG

A number of hedge funds have recently modified their holdings of the company. ORG Wealth Partners LLC acquired a new position in TPG in the 4th quarter valued at about $33,000. Signaturefd LLC raised its position in shares of TPG by 21.3% during the 3rd quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock valued at $62,000 after buying an additional 188 shares during the period. Covestor Ltd lifted its holdings in TPG by 1,128.3% in the third quarter. Covestor Ltd now owns 1,867 shares of the company’s stock valued at $107,000 after acquiring an additional 1,715 shares during the last quarter. KBC Group NV lifted its holdings in TPG by 25.1% in the third quarter. KBC Group NV now owns 2,405 shares of the company’s stock valued at $138,000 after acquiring an additional 482 shares during the last quarter. Finally, Quarry LP increased its stake in TPG by 136.2% during the third quarter. Quarry LP now owns 3,201 shares of the company’s stock worth $184,000 after acquiring an additional 1,846 shares during the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.

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.