TPG (NASDAQ:TPG) Shares Gap Up to $26.78

TPG Inc. (NASDAQ:TPG – Get Rating)’s share price gapped up prior to trading on Friday . The stock had previously closed at $26.78, but opened at $27.43. TPG shares last traded at $27.34, with a volume of 71,948 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on TPG. Bank of America decreased their price objective on shares of TPG from $34.00 to $28.00 in a research report on Wednesday. Wells Fargo & Company reduced their price target on shares of TPG from $31.00 to $28.00 in a research report on Friday. JPMorgan Chase & Co. lowered shares of TPG from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $35.00 to $34.00 in a research report on Tuesday, January 24th. Evercore ISI reduced their price target on shares of TPG from $34.00 to $33.00 in a research report on Tuesday, May 16th. Finally, Credit Suisse Group reduced their price target on shares of TPG from $33.00 to $32.50 in a research report on Friday. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $34.32.

TPG Trading Down 0.1 %

The business’s 50-day moving average is $28.22 and its two-hundred day moving average is $31.04. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.33 and a current ratio of 0.28. The stock has a market capitalization of $8.27 billion, a PE ratio of -83.56, a price-to-earnings-growth ratio of 1.25 and a beta of 1.45.

TPG (NASDAQ:TPG – Get Rating) last released its earnings results on Wednesday, February 15th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The business had revenue of $350.18 million during the quarter, compared to analyst estimates of $303.48 million. TPG’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the business posted $0.56 EPS. As a group, equities research analysts anticipate that TPG Inc. will post 1.69 earnings per share for the current year.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 5th. Investors of record on Thursday, May 25th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, May 24th. TPG’s payout ratio is -625.00%.

Institutional Trading of TPG

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. purchased a new stake in shares of TPG during the 1st quarter worth about $33,000. Hexagon Capital Partners LLC acquired a new position in TPG during the 1st quarter worth approximately $39,000. Advanced Research Investment Solutions LLC acquired a new position in TPG during the 3rd quarter worth approximately $56,000. BNP Paribas Arbitrage SNC acquired a new position in TPG during the 3rd quarter worth approximately $61,000. Finally, Deutsche Bank AG acquired a new position in TPG during the 4th quarter worth approximately $64,000. Hedge funds and other institutional investors own 12.94% of the company’s stock.

About TPG

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TPG Inc operates as an alternative asset manager worldwide. It offers investment management services to unconsolidated funds, collateralized loan obligations, and other vehicles; monitoring services to portfolio companies; advisory services, debt and equity arrangements, and underwriting and placement services; and capital structuring and other advisory services to portfolio companies.