TPG (NASDAQ:TPG) Price Target Cut to $66.00 by Analysts at Wells Fargo & Company

TPG (NASDAQ:TPG - Free Report) had its price objective decreased by Wells Fargo & Company from $78.00 to $66.00 in a research report sent to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Evercore ISI upped their target price on TPG from $65.00 to $66.00 and gave the stock an "in-line" rating in a report on Wednesday, February 12th. BMO Capital Markets boosted their price target on TPG from $60.00 to $73.00 and gave the stock a "market perform" rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods raised their price objective on TPG from $62.00 to $70.00 and gave the company a "market perform" rating in a research report on Friday, December 20th. Finally, JMP Securities reiterated a "market perform" rating on shares of TPG in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $63.18.

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TPG Stock Up 4.5 %

Shares of TPG stock traded up $2.24 during mid-day trading on Thursday, hitting $52.24. The stock had a trading volume of 1,499,008 shares, compared to its average volume of 986,529. TPG has a 12-month low of $39.18 and a 12-month high of $72.98. 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 firm's 50-day moving average is $58.69 and its two-hundred day moving average is $61.90. The firm has a market capitalization of $19.30 billion, a P/E ratio of -118.73, a price-to-earnings-growth ratio of 0.80 and a beta of 1.54.

TPG (NASDAQ:TPG - Get Free Report) last issued its earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share (EPS) 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%. On average, analysts predict that TPG will post 2.52 earnings per share 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 paid a dividend of $0.53 per share. This is an increase from TPG's previous quarterly dividend of $0.38. This represents a $2.12 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Friday, February 21st. TPG's payout ratio is presently -481.82%.

Insider Activity at TPG

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

Institutional Trading of TPG

Hedge funds have recently modified their holdings of the stock. ORG Wealth Partners LLC acquired a new position in TPG in the fourth quarter valued at approximately $33,000. Fourth Dimension Wealth LLC acquired a new position in shares of TPG in the 4th quarter valued at $67,000. Comerica Bank boosted its holdings in TPG by 71.4% during 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. R Squared Ltd acquired a new stake in TPG during the fourth quarter valued at $97,000. Finally, KBC Group NV increased its holdings in TPG by 25.1% in the third quarter. KBC Group NV now owns 2,405 shares of the company's stock valued at $138,000 after buying an additional 482 shares in the last quarter. Hedge funds and other institutional investors own 94.03% 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.