Keefe, Bruyette & Woods Upgrades TPG (NASDAQ:TPG) to “Moderate Buy”

TPG (NASDAQ:TPG) was upgraded by equities researchers at Keefe, Bruyette & Woods to a “moderate buy” rating in a note issued to investors on Monday,Zacks.com reports.

TPG has been the subject of several other research reports. Wall Street Zen cut shares of TPG from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Barclays upped their price objective on TPG from $56.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. TD Cowen reduced their price objective on TPG from $48.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. BMO Capital Markets decreased their target price on TPG from $52.00 to $50.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Finally, Citizens Jmp lowered their target price 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 investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.00.

TPG Trading Down 2.5%

NASDAQ TPG opened at $41.79 on Monday. The firm has a 50 day simple moving average of $41.92 and a 200-day simple moving average of $46.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.33 and a current ratio of 0.33. TPG has a one year low of $36.95 and a one year high of $70.38. The firm 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.

TPG (NASDAQ:TPG) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.70 earnings per share for the quarter, beating 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 firm had revenue of $557.18 million during the quarter, compared to analysts’ expectations of $608.07 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts anticipate that TPG will post 2.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of TPG by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 12,700,928 shares of the company’s stock valued at $810,827,000 after purchasing an additional 314,295 shares during the last quarter. Capital International Investors lifted its position in shares of TPG by 0.4% during the 4th quarter. Capital International Investors now owns 11,734,677 shares of the company’s stock worth $749,142,000 after purchasing an additional 52,213 shares during the last quarter. Temasek Holdings Private Ltd grew its stake in shares of TPG by 14.1% during the first quarter. Temasek Holdings Private Ltd now owns 10,028,107 shares of the company’s stock worth $406,239,000 after purchasing an additional 1,236,526 shares in the last quarter. Darlington Partners Capital Management LP acquired a new position in shares of TPG during the second quarter worth $258,581,000. Finally, Millennium Management LLC increased its holdings in TPG by 66.9% in the fourth quarter. Millennium Management LLC now owns 4,584,733 shares of the company’s stock valued at $292,689,000 after buying an additional 1,837,799 shares during the last quarter. Institutional investors and hedge funds own 94.03% of the company’s stock.

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.