TPG (NASDAQ:TPG) Reaches New 1-Year High at $52.97

TPG Inc. (NASDAQ:TPG)’s stock price reached 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 changing hands. The stock had previously closed at $51.19.

Wall Street Analysts Forecast Growth

TPG has been the topic of several recent analyst reports. Wells Fargo & Company began coverage on TPG in a report on Thursday. They issued an “overweight” rating and a $60.00 target price on the stock. TD Cowen reduced 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, JPMorgan Chase & Co. raised their target price on TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.83.

TPG Stock Performance

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 market cap of $19.37 billion, a price-to-earnings ratio of -365.64, a PEG ratio of 0.83 and a beta of 1.52. The firm’s 50-day moving average price is $47.41 and its 200 day moving average price is $44.72.

TPG (NASDAQ:TPG) last released its earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.06. The firm had revenue of $744.19 million during the quarter, compared to analyst estimates of $449.34 million. TPG had a net margin of 1.08% and a return on equity of 24.27%. During the same quarter in the previous year, the business earned $0.26 EPS. On average, sell-side analysts anticipate that TPG Inc. will post 2.01 EPS for the current year.

TPG Increases Dividend

The business 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. This is a positive change from TPG’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.68 annualized dividend and a yield of 3.16%. TPG’s dividend payout ratio is presently -1,200.00%.

Insiders Place Their Bets

In other news, Director Deborah M. Messemer sold 4,089 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $46.55, for a total value of $190,342.95. Following the completion of the transaction, the director now owns 17,536 shares of the company’s stock, valued at approximately $816,300.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 76.48% of the company’s stock.

Institutional Trading of TPG

A number of large investors have recently bought and sold shares of TPG. Vanguard Group Inc. raised its stake in shares of TPG by 21.6% in the 1st quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock valued at $328,826,000 after purchasing an additional 1,305,799 shares during the period. Norges Bank bought a new position in shares of TPG during the fourth quarter worth about $52,189,000. Millennium Management LLC raised its position in TPG by 32.4% in the 2nd quarter. Millennium Management LLC now owns 3,768,113 shares of the company’s stock valued at $156,188,000 after buying an additional 922,571 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in TPG by 18.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,956,548 shares of the company’s stock valued at $127,634,000 after acquiring an additional 462,355 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in TPG by 902.4% during the 2nd quarter. Thrivent Financial for Lutherans now owns 418,608 shares of the company’s stock worth $17,352,000 after acquiring an additional 376,848 shares during the last quarter. 86.79% of the stock is owned by 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.