TPG (NASDAQ:TPG) Trading Down 4.9% – Here’s Why

TPG Inc. (NASDAQ:TPG)’s stock price was down 4.9% on Monday . The stock traded as low as $61.24 and last traded at $62.70. Approximately 141,657 shares were traded during trading, a decline of 83% from the average daily volume of 854,025 shares. The stock had previously closed at $65.94.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Evercore ISI increased their price target on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their price target on shares of TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of TPG from $65.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, BMO Capital Markets raised their target price on shares of TPG from $45.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.17.

TPG Trading Up 6.7 %

The company has a 50-day simple moving average of $58.95 and a 200-day simple moving average of $49.39. 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 stock has a market cap of $23.70 billion, a P/E ratio of -179.05, a P/E/G ratio of 0.98 and a beta of 1.49.

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

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Thursday, November 14th. TPG’s dividend payout ratio is presently -494.10%.

Hedge Funds Weigh In On TPG

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in TPG by 21.6% in the first quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company’s stock worth $328,826,000 after purchasing an additional 1,305,799 shares during the period. Millennium Management LLC raised its stake in 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 buying an additional 922,571 shares during the period. Thrivent Financial for Lutherans lifted its holdings in TPG by 902.4% during the second 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 in the last quarter. Massachusetts Financial Services Co. MA grew its stake in TPG by 5.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company’s stock valued at $278,161,000 after acquiring an additional 366,306 shares during the period. Finally, Capital International Investors increased its holdings in shares of TPG by 9.6% in the first quarter. Capital International Investors now owns 3,860,883 shares of the company’s stock worth $172,581,000 after acquiring an additional 336,665 shares in the last quarter. Institutional investors and hedge funds own 86.79% 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.