TPG (NASDAQ:TPG) Price Target Raised to $68.00 at Wells Fargo & Company

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

Several other equities analysts have also recently commented on TPG. The Goldman Sachs Group raised their price target on shares of TPG from $60.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on TPG from $65.00 to $67.00 and gave the company a "buy" rating in a report on Tuesday. Evercore ISI increased their price target on TPG from $46.00 to $60.00 and gave the company an "in-line" rating in a research report on Monday, October 14th. Morgan Stanley lifted their price objective on TPG from $55.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. Finally, TD Cowen dropped their price objective on shares of TPG from $44.00 to $42.00 and set a "hold" rating on the stock in a research report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $56.17.

TPG Trading Down 1.5 %

Shares of TPG traded down $0.91 during trading on Tuesday, reaching $60.88. 1,318,848 shares of the company traded hands, compared to its average volume of 865,496. The stock has a 50-day simple moving average of $58.74 and a 200-day simple moving average of $49.27. The stock has a market cap of $22.21 billion, a PE ratio of -172.37, a price-to-earnings-growth ratio of 1.04 and a beta of 1.49. TPG has a twelve month low of $28.93 and a twelve month high of $69.86. 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 - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.45. TPG had a return on equity of 24.27% and a net margin of 1.08%. The company had revenue of $855.40 million for the quarter, compared to analyst estimates of $449.98 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. On average, analysts anticipate that TPG will post 1.96 earnings per share for the current year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, November 14th. TPG's payout ratio is -479.99%.

Hedge Funds Weigh In On TPG

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of TPG by 21.6% during the 1st quarter. Vanguard Group Inc. now owns 7,356,280 shares of the company's stock worth $328,826,000 after purchasing an additional 1,305,799 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in TPG by 5.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,710,751 shares of the company's stock worth $278,161,000 after buying an additional 366,306 shares in the last quarter. Capital International Investors increased its holdings in TPG by 9.6% in the first quarter. Capital International Investors now owns 3,860,883 shares of the company's stock valued at $172,581,000 after buying an additional 336,665 shares in the last quarter. 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 valued at $156,188,000 after acquiring an additional 922,571 shares during the period. Finally, American Century Companies Inc. increased its stake in TPG by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 1,240,450 shares of the company's stock valued at $51,417,000 after purchasing an additional 151,317 shares in the last quarter. Institutional investors and hedge funds 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.