TPG (NASDAQ:TPG) Rating Increased to Moderate Buy at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of TPG (NASDAQ:TPG) to a moderate buy rating in a report released on Monday,Zacks.com reports.

TPG has been the topic of a number of other reports. TD Cowen dropped their target price on shares of TPG from $48.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Barclays upped their target price on shares of TPG from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Citizens Jmp dropped their target price on TPG from $75.00 to $68.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft set a $55.00 price objective on shares of TPG in a report on Monday, May 4th. Finally, Morgan Stanley reduced their target price on shares of TPG from $60.00 to $54.00 and set an “equal weight” rating on the stock in a report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.00.

TPG Stock Down 2.5%

Shares of NASDAQ TPG opened at $41.79 on Monday. TPG has a 12 month low of $36.95 and a 12 month high of $70.38. The company has a market cap of $16.06 billion, a price-to-earnings ratio of 189.96, a PEG ratio of 0.79 and a beta of 1.45. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $41.92 and a two-hundred day moving average price of $46.24.

TPG (NASDAQ:TPG) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. TPG had a net margin of 3.81% and a return on equity of 28.13%. The company had revenue of $557.18 million for the quarter, compared to analyst estimates of $608.07 million. During the same quarter in the previous year, the business earned $0.48 earnings per share. TPG’s revenue was up 14.1% compared to the same quarter last year. As a group, analysts forecast that TPG will post 2.85 earnings per share for the current fiscal year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 11th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.36 annualized dividend and a yield of 5.6%. TPG’s payout ratio is presently 1,072.73%.

Hedge Funds Weigh In On TPG

Several large investors have recently made changes to their positions in the business. Comerica Bank increased its position in TPG by 43.1% during the 1st quarter. Comerica Bank now owns 1,545 shares of the company’s stock valued at $73,000 after buying an additional 465 shares in the last quarter. Royal Bank of Canada grew its stake in shares of TPG by 86.3% in the first quarter. Royal Bank of Canada now owns 7,901 shares of the company’s stock worth $375,000 after acquiring an additional 3,659 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of TPG by 4,109.1% during the first quarter. Goldman Sachs Group Inc. now owns 571,004 shares of the company’s stock valued at $27,083,000 after acquiring an additional 557,438 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of TPG by 156.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,680 shares of the company’s stock valued at $22,941,000 after acquiring an additional 294,941 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in shares of TPG in the 2nd quarter worth about $216,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

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.