TPG (NASDAQ:TPG) Reaches New 12-Month High – Still a Buy?

Shares of TPG Inc. (NASDAQ:TPG) hit a new 52-week high during trading on Friday . The stock traded as high as $70.83 and last traded at $70.31, with a volume of 245205 shares changing hands. The stock had previously closed at $69.70.

Analyst Ratings Changes

A number of research firms have weighed in on TPG. Deutsche Bank Aktiengesellschaft increased their target price on shares of TPG from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Evercore ISI raised their target price on TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their target price on shares of TPG from $67.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. TD Cowen decreased their price target on shares of TPG from $62.00 to $58.00 and set a “hold” rating for the company in a research note on Wednesday, November 6th. Finally, The Goldman Sachs Group upped their price target on TPG from $67.00 to $77.00 and gave the stock a “buy” rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, TPG has an average rating of “Hold” and a consensus target price of $58.83.

TPG Price Performance

The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $25.42 billion, a PE ratio of -206.41, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. The business has a 50-day moving average of $63.01 and a 200 day moving average of $51.27.

TPG (NASDAQ:TPG) last announced its earnings results on Monday, November 4th. The company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. TPG had a net margin of 0.69% and a return on equity of 23.45%. The company had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. As a group, research analysts anticipate that TPG Inc. will post 1.95 EPS for the current fiscal year.

TPG Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.18%. TPG’s payout ratio is presently -447.05%.

Hedge Funds Weigh In On TPG

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in TPG by 7.7% during the third quarter. Geode Capital Management LLC now owns 1,442,001 shares of the company’s stock worth $83,023,000 after buying an additional 102,663 shares during the last quarter. Barclays PLC increased its stake in shares of TPG by 14,739.3% during the 3rd quarter. Barclays PLC now owns 602,029 shares of the company’s stock worth $34,652,000 after purchasing an additional 597,972 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of TPG in the 3rd quarter worth approximately $461,000. State Street Corp raised its holdings in shares of TPG by 5.0% in the 3rd quarter. State Street Corp now owns 1,421,981 shares of the company’s stock worth $81,849,000 after purchasing an additional 67,597 shares during the period. Finally, Quarry LP lifted its stake in TPG by 136.2% in the third quarter. Quarry LP now owns 3,201 shares of the company’s stock valued at $184,000 after purchasing an additional 1,846 shares during the last quarter. 86.79% of the stock is owned by hedge funds and other institutional investors.

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.