Bank of America Has Lowered Expectations for TPG (NASDAQ:TPG) Stock Price

TPG (NASDAQ:TPG - Free Report) had its price target reduced by Bank of America from $72.00 to $68.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of TPG from $78.00 to $66.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. Evercore ISI raised their price target on shares of TPG from $65.00 to $66.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 12th. The Goldman Sachs Group reduced their price target on TPG from $70.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. JMP Securities reissued a "market perform" rating on shares of TPG in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods boosted their price target on TPG from $62.00 to $70.00 and gave the stock a "market perform" rating in a research report on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.62.

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TPG Price Performance

Shares of NASDAQ:TPG traded up $3.13 during midday trading on Friday, reaching $42.81. The company's stock had a trading volume of 960,820 shares, compared to its average volume of 1,071,876. TPG has a fifty-two week low of $37.52 and a fifty-two week high of $72.98. The company has a market capitalization of $15.82 billion, a P/E ratio of -95.45, a P/E/G ratio of 0.80 and a beta of 1.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.18 and a quick ratio of 0.25. The business's fifty day simple moving average is $53.40 and its 200-day simple moving average is $61.13.

TPG (NASDAQ:TPG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.10. TPG had a return on equity of 24.66% and a net margin of 0.67%. As a group, equities research analysts expect that TPG will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 21st were issued a $0.53 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.12 dividend on an annualized basis and a yield of 4.95%. This is an increase from TPG's previous quarterly dividend of $0.38. TPG's payout ratio is currently -481.82%.

Insiders Place Their Bets

In related news, General Counsel Bradford Berenson sold 2,509 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $50.04, for a total value of $125,550.36. Following the transaction, the general counsel now owns 290,841 shares in the company, valued at approximately $14,553,683.64. This trade represents a 0.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Deborah M. Messemer sold 1,695 shares of the company's stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $61.91, for a total transaction of $104,937.45. Following the sale, the director now directly owns 15,841 shares of the company's stock, valued at $980,716.31. This represents a 9.67 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 76.48% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of TPG by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 8,266,047 shares of the company's stock valued at $519,438,000 after purchasing an additional 162,107 shares during the last quarter. Capital World Investors grew its position in TPG by 484.6% in the fourth quarter. Capital World Investors now owns 3,065,321 shares of the company's stock valued at $192,625,000 after acquiring an additional 2,541,013 shares during the last quarter. Franklin Resources Inc. raised its stake in TPG by 10.1% during the third quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company's stock worth $161,921,000 after acquiring an additional 244,373 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of TPG by 43.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,253,070 shares of the company's stock valued at $141,584,000 after purchasing an additional 683,572 shares in the last quarter. Finally, Millennium Management LLC increased its position in TPG by 66.8% during the 4th quarter. Millennium Management LLC now owns 2,243,815 shares of the company's stock worth $141,001,000 after purchasing an additional 898,943 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

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.