TPG (NASDAQ:TPG) Raised to Moderate Buy at Royal Bank Of Canada

TPG (NASDAQ:TPG) was upgraded by equities researchers at Royal Bank Of Canada to a “moderate buy” rating in a research note issued on Monday,Zacks.com reports.

TPG has been the subject of several other reports. Citigroup raised TPG to an “outperform” rating in a research note on Monday, February 9th. Barclays set a $69.00 price target on TPG in a research note on Friday, February 6th. Weiss Ratings restated a “hold (c)” rating on shares of TPG in a report on Monday, December 29th. Morgan Stanley set a $67.00 target price on shares of TPG in a research report on Tuesday, January 27th. Finally, UBS Group cut their price target on shares of TPG from $83.00 to $60.00 and set a “buy” rating on the stock in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.67.

TPG Stock Performance

Shares of TPG opened at $43.04 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.30 and a quick ratio of 0.30. The firm’s 50 day moving average is $59.60 and its 200-day moving average is $59.34. TPG has a 12-month low of $37.52 and a 12-month high of $70.38. The stock has a market capitalization of $16.27 billion, a P/E ratio of 97.82, a P/E/G ratio of 0.63 and a beta of 1.50.

TPG (NASDAQ:TPG) last issued its earnings results on Thursday, February 5th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.20. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $548.40 million. TPG had a net margin of 3.95% and a return on equity of 26.02%. The firm’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. Equities research analysts anticipate that TPG will post 2.52 EPS for the current fiscal year.

Institutional Trading of TPG

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new stake in shares of TPG during the 4th quarter worth about $38,000. EverSource Wealth Advisors LLC lifted its holdings in TPG by 2,496.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 675 shares of the company’s stock worth $43,000 after purchasing an additional 649 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in TPG during the second quarter worth approximately $37,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in TPG by 268.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock worth $38,000 after purchasing an additional 524 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in TPG by 252.7% during the third quarter. PNC Financial Services Group Inc. now owns 790 shares of the company’s stock valued at $45,000 after purchasing an additional 566 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

About TPG

TPG Inc (NASDAQ: TPG) is a global alternative asset management firm that invests across a range of strategies including private equity, growth equity, real assets, credit and hedge funds. Founded in 1992 as Texas Pacific Group, the firm has expanded its product set to serve a broad set of institutional and individual investors through commingled funds, separately managed accounts and other customized investment vehicles.

TPG operates investment platforms that target buyouts, growth-stage companies, real estate and credit opportunities, and it has developed dedicated thematic and impact vehicles such as the TPG Rise Fund to pursue social and environmental outcomes alongside financial returns.