TPG (NASDAQ:TPG) Given New $61.00 Price Target at Barclays

TPG (NASDAQ:TPG) had its price objective raised by Barclays from $60.00 to $61.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also commented on TPG. TD Cowen cut their price objective on shares of TPG from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, October 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $62.00 price objective on shares of TPG in a report on Wednesday, August 5th. Keefe, Bruyette & Woods increased their target price on shares of TPG from $53.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. UBS Group upped their price target on shares of TPG from $59.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised TPG from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $62.07.

TPG Trading Down 2.6%

NASDAQ:TPG opened at $46.68 on Friday. The company has a market cap of $17.94 billion, a P/E ratio of 53.66, a P/E/G ratio of 0.90 and a beta of 1.49. The stock’s fifty day moving average price is $47.00 and its two-hundred day moving average price is $45.88. TPG has a 1 year low of $36.95 and a 1 year high of $70.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.31 and a quick ratio of 0.31.

TPG (NASDAQ:TPG) last posted its quarterly earnings results on Thursday, October 29th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $624.66 million. TPG had a return on equity of 29.24% and a net margin of 5.32%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same period last year, the company earned $0.53 earnings per share. As a group, analysts expect that TPG will post 2.78 EPS for the current year.

TPG Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be given a dividend of $0.55 per share. This is a decrease from TPG’s previous quarterly dividend of $0.59. This represents a $2.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, November 9th. TPG’s dividend payout ratio is presently 357.58%.

Hedge Funds Weigh In On TPG

Institutional investors have recently bought and sold shares of the stock. Provenance Wealth Advisors LLC bought a new stake in TPG during the 3rd quarter valued at approximately $36,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of TPG during the 3rd quarter worth approximately $134,000. Signaturefd LLC grew its holdings in shares of TPG by 10.5% during the 3rd quarter. Signaturefd LLC now owns 3,685 shares of the company’s stock worth $163,000 after acquiring an additional 350 shares during the period. Evergreen Capital Management LLC raised its position in shares of TPG by 0.3% in the 3rd quarter. Evergreen Capital Management LLC now owns 131,623 shares of the company’s stock worth $5,809,000 after acquiring an additional 351 shares in the last quarter. Finally, Private Wealth Partners LLC raised its position in shares of TPG by 2.5% in the 3rd quarter. Private Wealth Partners LLC now owns 159,532 shares of the company’s stock worth $7,040,000 after acquiring an additional 3,889 shares in the last quarter. 94.03% of the stock is owned by institutional investors.

Trending Headlines about TPG

Here are the key news stories impacting TPG this week:

• Positive Sentiment: Analysts raised targets: TD Cowen, RBC, Wells Fargo and Barclays all increased their price targets, with ratings ranging from “equal weight” to “buy” and “outperform.” The new targets imply approximately 11% to 46% upside, supporting the bullish case for TPG. TD Cowen analyst action
• Positive Sentiment: Quarterly earnings exceeded expectations: TPG reported third-quarter EPS of $0.65 versus the $0.63 consensus estimate. Revenue reached $1.22 billion, up 25.3% year over year and well above the reported $624.7 million estimate, while EPS increased from $0.53 a year earlier. TPG Q3 earnings report
• Positive Sentiment: Fundraising outlook remains strong: TPG reportedly expects to raise a record $55 billion this year, which could expand fee-generating assets and improve long-term earnings visibility. TPG fundraising outlook
• Neutral Sentiment: TPG is reportedly considering a roughly $5 billion acquisition of Ark Data Centres and has launched a $10 billion climate fund. These initiatives could create new growth opportunities but also involve significant capital deployment and execution risk. TPG Ark Data Centres talks
• Negative Sentiment: Dividend was reduced: TPG declared a quarterly dividend of $0.55 per share, down 6.8% from $0.59 previously. The cut may concern income-focused investors despite the approximately 4.6% indicated yield. TPG dividend announcement

About TPG

TPG Inc is a global alternative asset management firm that invests across a range of strategies, including private equity, growth equity, impact investing, real estate, infrastructure, credit and secondaries. The company partners with businesses and management teams to provide capital, strategic guidance and operational support.

TPG manages investment funds for institutional investors and other clients, with a focus on sectors such as technology, healthcare, consumer products and services, financial services, and business services.