Analysts Set TPG Inc. (NASDAQ:TPG) Target Price at $61.75

Shares of TPG Inc. (NASDAQ:TPG) have been given an average rating of “Moderate Buy” by the seventeen brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $61.75.

TPG has been the subject of a number of recent analyst reports. Barclays increased their price objective on TPG from $56.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Citizens Jmp raised TPG from a “market perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Monday, February 9th. UBS Group increased their price objective on TPG from $54.00 to $59.00 and gave the stock a “buy” rating in a report on Monday, May 4th. Citigroup raised TPG to an “outperform” rating in a report on Monday, February 9th. Finally, Morgan Stanley set a $60.00 price objective on TPG in a report on Tuesday, April 21st.

TPG Price Performance

Shares of TPG stock opened at $41.62 on Thursday. 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 business’s 50 day simple moving average is $41.61 and its 200-day simple moving average is $51.82. The stock has a market capitalization of $15.99 billion, a price-to-earnings ratio of 189.19, a PEG ratio of 0.74 and a beta of 1.47. TPG has a twelve month low of $36.95 and a twelve month high of $70.38.

TPG (NASDAQ:TPG) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.09. TPG had a return on equity of 28.13% and a net margin of 3.81%.The business had revenue of $557.18 million for the quarter, compared to analysts’ expectations of $608.07 million. During the same period in the prior year, the firm earned $0.48 EPS. The business’s quarterly revenue was up 14.1% on a year-over-year basis. Equities research analysts forecast that TPG will post 2.86 earnings per share for the current year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Monday, May 11th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Monday, May 11th. TPG’s dividend payout ratio is 1,072.73%.

Hedge Funds Weigh In On TPG

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPG. International Assets Investment Management LLC bought a new position in TPG during the 4th quarter valued at $38,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in TPG by 268.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 719 shares of the company’s stock valued at $38,000 after purchasing an additional 524 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in TPG by 2,496.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 675 shares of the company’s stock valued at $43,000 after purchasing an additional 649 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in TPG by 252.7% during the 3rd 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 in the last quarter. Finally, Optiver Holding B.V. bought a new position in TPG during the 3rd quarter valued at $51,000. 94.03% of the stock is owned by 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.