Wells Fargo & Company Lowers TPG (NASDAQ:TPG) Price Target to $66.00

TPG (NASDAQ:TPG) had its target price reduced by Wells Fargo & Company from $78.00 to $66.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued reports about the stock. BMO Capital Markets increased their price target on shares of TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Evercore ISI increased their price objective on TPG from $65.00 to $66.00 and gave the company an “in-line” rating in a research report on Wednesday, February 12th. Keefe, Bruyette & Woods lifted their target price on TPG from $62.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of TPG in a research note on Thursday, February 13th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $63.18.

TPG Stock Down 1.0 %

Shares of TPG opened at $50.00 on Thursday. TPG has a 12 month low of $39.18 and a 12 month high of $72.98. The stock has a market cap of $18.47 billion, a price-to-earnings ratio of -113.64, a P/E/G ratio of 0.80 and a beta of 1.54. The company has a 50-day moving average price of $58.69 and a two-hundred day moving average price of $61.81. The company has a quick ratio of 0.25, a current ratio of 0.18 and a debt-to-equity ratio of 0.36.

TPG (NASDAQ:TPG) last announced its earnings results on Tuesday, February 11th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. TPG had a net margin of 0.67% and a return on equity of 24.66%. Equities analysts predict that TPG will post 2.52 EPS for the current fiscal year.

TPG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 21st were paid a dividend of $0.53 per share. The ex-dividend date was Friday, February 21st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 4.24%. This is a boost from TPG’s previous quarterly dividend of $0.38. TPG’s dividend payout ratio is currently -481.82%.

Insider Activity

In other news, Director Deborah M. Messemer sold 1,695 shares of TPG stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $61.91, for a total value of $104,937.45. Following the completion of the transaction, the director now owns 15,841 shares of the company’s stock, valued at $980,716.31. This trade represents a 9.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Bradford Berenson sold 2,509 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $50.04, for a total transaction of $125,550.36. Following the completion of the sale, the general counsel now directly owns 290,841 shares in the company, valued at approximately $14,553,683.64. The trade was a 0.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 76.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TPG

Institutional investors have recently bought and sold shares of the business. ORG Wealth Partners LLC acquired a new stake in shares of TPG in the fourth quarter valued at approximately $33,000. Fourth Dimension Wealth LLC bought a new stake in TPG in the 4th quarter valued at $67,000. Comerica Bank raised its stake in TPG by 71.4% in the 4th quarter. Comerica Bank now owns 1,080 shares of the company’s stock valued at $68,000 after acquiring an additional 450 shares during the period. R Squared Ltd acquired a new stake in TPG during the 4th quarter valued at $97,000. Finally, KBC Group NV boosted its position in TPG by 25.1% during the third quarter. KBC Group NV now owns 2,405 shares of the company’s stock worth $138,000 after purchasing an additional 482 shares during the period. Institutional investors and hedge funds own 94.03% of the company’s stock.

About TPG

TPG Inc operates as an alternative asset manager in the United States and internationally. The company offers investment management services to TPG Funds, limited partners, and other vehicles. It also offers monitoring services to portfolio companies; advisory, debt and equity arrangement, and underwriting and placement services; and capital structuring and other advisory services to portfolio companies.