TPG (NASDAQ:TPG) Given New $56.00 Price Target at Citigroup

TPG (NASDAQ:TPG - Free Report) had its price objective decreased by Citigroup from $72.00 to $56.00 in a research report released on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Bank of America cut their target price on TPG from $72.00 to $68.00 and set a "buy" rating for the company in a research note on Friday, April 4th. BMO Capital Markets increased their target price on shares of TPG from $60.00 to $73.00 and gave the stock a "market perform" rating in a research note on Thursday, December 19th. Wells Fargo & Company reduced their price target on shares of TPG from $78.00 to $66.00 and set an "overweight" rating for the company in a research report on Thursday, March 20th. Evercore ISI increased their price objective on TPG from $65.00 to $66.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group reduced their target price on TPG from $70.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 3rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $60.42.

TPG Stock Performance

NASDAQ TPG traded up $0.79 on Tuesday, hitting $44.59. 2,045,526 shares of the stock traded hands, compared to its average volume of 1,100,284. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.25 and a current ratio of 0.18. The business's fifty day moving average is $51.73 and its two-hundred day moving average is $60.73. TPG has a 12 month low of $37.52 and a 12 month high of $72.98. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of -101.34, a PEG ratio of 0.80 and a beta of 1.58.

Remove Ads

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

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders 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 annualized dividend and a dividend yield of 4.75%. This is an increase from TPG's previous quarterly dividend of $0.38. TPG's payout ratio is currently -481.82%.

Insider Activity at TPG

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 shares were sold at an average price of $61.91, for a total value of $104,937.45. Following the sale, the director now 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 at the SEC website. Also, General Counsel Bradford Berenson sold 2,509 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total transaction of $125,550.36. Following the transaction, the general counsel now directly owns 290,841 shares of the company's stock, valued at approximately $14,553,683.64. This trade represents a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 76.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TPG

Hedge funds and other institutional investors have recently made changes to their positions in the business. Treasurer of the State of North Carolina increased its position in TPG by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 36,946 shares of the company's stock valued at $2,322,000 after purchasing an additional 230 shares during the period. Shoker Investment Counsel Inc. increased its position in shares of TPG by 10.4% during the fourth quarter. Shoker Investment Counsel Inc. now owns 3,889 shares of the company's stock valued at $244,000 after buying an additional 366 shares during the period. Comerica Bank raised its stake in TPG by 71.4% in the fourth quarter. Comerica Bank now owns 1,080 shares of the company's stock worth $68,000 after buying an additional 450 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in TPG by 6.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 8,021 shares of the company's stock worth $504,000 after buying an additional 498 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in shares of TPG during the 4th quarter worth approximately $33,000. 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.