TPG (NASDAQ:TPG) Sets New 1-Year High - Here's What Happened

Shares of TPG Inc. (NASDAQ:TPG - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $70.00 and last traded at $70.00, with a volume of 111 shares traded. The stock had previously closed at $68.44.

Wall Street Analysts Forecast Growth

TPG has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on shares of TPG from $60.00 to $67.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. Morgan Stanley increased their target price on shares of TPG from $55.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. TD Cowen dropped their price target on shares of TPG from $44.00 to $42.00 and set a "hold" rating for the company in a research report on Monday, July 8th. JPMorgan Chase & Co. boosted their price target on TPG from $44.00 to $49.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group upped their price objective on shares of TPG from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $52.25.

TPG Stock Performance

The firm has a market capitalization of $24.95 billion, a price-to-earnings ratio of -196.85, a PEG ratio of 1.07 and a beta of 1.53. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.37. The stock's 50-day moving average is $57.46 and its 200-day moving average is $48.61.

TPG (NASDAQ:TPG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.06. TPG had a net margin of 1.08% and a return on equity of 24.27%. The company had revenue of $744.19 million for the quarter, compared to analyst estimates of $449.34 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. On average, analysts predict that TPG Inc. will post 1.96 EPS for the current fiscal year.

TPG Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were given a dividend of $0.42 per share. The ex-dividend date was Friday, August 16th. This is a boost from TPG's previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 2.46%. TPG's dividend payout ratio is -479.99%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new position in shares of TPG during the 2nd quarter valued at $25,000. Signaturefd LLC boosted its position in shares of TPG by 21.3% during the 3rd quarter. Signaturefd LLC now owns 1,070 shares of the company's stock worth $62,000 after purchasing an additional 188 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of TPG in the 1st quarter valued at about $112,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in TPG in the 1st quarter valued at about $151,000. Finally, MQS Management LLC acquired a new position in TPG during the 1st quarter worth approximately $201,000. 86.79% of the stock is owned by 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.