TPG (NASDAQ:TPG) Stock Price Expected to Rise, Evercore ISI Analyst Says

TPG (NASDAQ:TPG - Free Report) had its price objective upped by Evercore ISI from $60.00 to $65.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an in-line rating on the stock.

A number of other analysts also recently issued reports on TPG. Morgan Stanley raised their price target on shares of TPG from $55.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. The Goldman Sachs Group lifted their price target on shares of TPG from $67.00 to $77.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Keefe, Bruyette & Woods lifted their price target on shares of TPG from $62.00 to $70.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. Wells Fargo & Company reduced their price target on shares of TPG from $83.00 to $78.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, BMO Capital Markets lifted their price target on shares of TPG from $60.00 to $73.00 and gave the company a "market perform" rating in a research report on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $63.00.

TPG Price Performance

Shares of TPG traded up $1.53 during mid-day trading on Friday, hitting $67.03. 649,414 shares of the company were exchanged, compared to its average volume of 827,780. TPG has a 1-year low of $38.50 and a 1-year high of $72.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.25 and a current ratio of 0.25. The company has a 50 day moving average of $66.58 and a 200-day moving average of $58.20. The stock has a market cap of $24.46 billion, a price-to-earnings ratio of -197.14, a price-to-earnings-growth ratio of 0.80 and a beta of 1.49.

TPG (NASDAQ:TPG - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.45 EPS for the quarter, meeting analysts' consensus estimates of $0.45. The company had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.45%. During the same quarter in the prior year, the firm earned $0.56 EPS. Analysts expect that TPG will post 1.95 EPS for the current fiscal year.

TPG Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Thursday, November 14th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.52 annualized dividend and a yield of 2.27%. TPG's dividend payout ratio (DPR) is presently -447.05%.

Insider Activity at TPG

In other TPG news, Director Deborah M. Messemer sold 1,695 shares of the business'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 completion of the transaction, the director now owns 15,841 shares in the company, valued at $980,716.31. The trade was a 9.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 76.48% of the stock is owned by insiders.

Institutional Investors Weigh In On TPG

Several institutional investors have recently modified their holdings of the company. Millennium Management LLC lifted its position in shares of 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 purchasing an additional 922,571 shares during the last quarter. Franklin Resources Inc. lifted its position in TPG by 10.1% in the third quarter. Franklin Resources Inc. now owns 2,656,193 shares of the company's stock valued at $161,921,000 after acquiring an additional 244,373 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in TPG by 146.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,670,719 shares of the company's stock valued at $96,166,000 after acquiring an additional 992,818 shares during the last quarter. Geode Capital Management LLC lifted its position in TPG by 7.7% in the third quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company's stock valued at $83,023,000 after acquiring an additional 102,663 shares during the last quarter. Finally, State Street Corp lifted its position in TPG by 5.0% in the third quarter. State Street Corp now owns 1,421,981 shares of the company's stock valued at $81,849,000 after acquiring an additional 67,597 shares during the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.

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.