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

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

A number of other equities analysts have also weighed in on TPG. TD Cowen decreased their target price on TPG from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Monday, July 8th. The Goldman Sachs Group raised their target price on shares of TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Evercore ISI upped their price target on TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on TPG from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, 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 report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, TPG currently has a consensus rating of “Hold” and an average target price of $56.17.

TPG Price Performance

NASDAQ:TPG opened at $60.88 on Tuesday. TPG has a 1-year low of $28.93 and a 1-year high of $69.86. The firm’s 50-day moving average price is $58.74 and its 200-day moving average price is $49.27. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37.

TPG (NASDAQ:TPG) last announced its earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $449.98 million. During the same quarter last year, the firm earned $0.56 earnings per share. On average, sell-side analysts anticipate that TPG will post 1.96 EPS for the current year.

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, November 14th. TPG’s payout ratio is currently -494.10%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of TPG by 21.6% in the first 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 in the last quarter. Millennium Management LLC grew its stake in shares of TPG by 32.4% in 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 in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of TPG by 902.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 418,608 shares of the company’s stock worth $17,352,000 after buying an additional 376,848 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of TPG by 5.8% in the 2nd 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 last quarter. Finally, Capital International Investors grew its position in 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. Hedge funds and other institutional investors own 86.79% of the company’s stock.

About TPG

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.