Wells Fargo & Company Issues Positive Forecast for TPG (NASDAQ:TPG) Stock Price

TPG (NASDAQ:TPG) had its price objective hoisted by Wells Fargo & Company from $47.00 to $52.00 in a research note released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other brokerages also recently commented on TPG. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $62.00 target price on shares of TPG in a research note on Wednesday, August 5th. Morgan Stanley dropped their price target on TPG from $60.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 21st. Royal Bank Of Canada increased their price target on TPG from $60.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Keefe, Bruyette & Woods increased their price target on TPG from $53.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, Citizens Jmp reduced their price objective on TPG from $75.00 to $68.00 and set a “market outperform” rating for the company in a research note on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.07.

TPG Trading Down 2.6%

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

TPG (NASDAQ:TPG) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $624.66 million. TPG had a net margin of 5.32% and a return on equity of 29.24%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 earnings per share. Analysts predict that TPG will post 2.78 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 9th will be issued 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 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, November 9th. TPG’s dividend payout ratio is 357.58%.

Institutional Investors Weigh In On TPG

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of TPG by 38.1% in the 2nd quarter. Wellington Management Group LLP now owns 11,019,487 shares of the company’s stock worth $446,840,000 after acquiring an additional 3,041,560 shares during the last quarter. Temasek Holdings Private Ltd lifted its position in TPG by 14.1% in the 1st quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company’s stock valued at $406,239,000 after acquiring an additional 1,236,526 shares in the last quarter. Vulcan Value Partners LLC lifted its position in TPG by 18.9% in the 2nd quarter. Vulcan Value Partners LLC now owns 2,361,862 shares of the company’s stock valued at $95,774,000 after acquiring an additional 375,836 shares in the last quarter. Jackson Brooke LLC acquired a new position in TPG during the 2nd quarter valued at about $92,395,080. Finally, Junto Capital Management LP acquired a new position in TPG during the 2nd quarter valued at about $82,794,000. 94.03% of the stock is owned by institutional investors.

TPG News Roundup

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

TPG Company Profile

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.