TPG (NASDAQ:TPG) Trading Down 2.8% Following Analyst Downgrade

Shares of TPG Inc. (NASDAQ:TPG – Get Rating) were down 2.8% during mid-day trading on Monday after Wells Fargo & Company lowered their price target on the stock from $31.00 to $28.00. The stock traded as low as $25.93 and last traded at $26.00. Approximately 55,824 shares traded hands during trading, a decline of 89% from the average daily volume of 487,213 shares. The stock had previously closed at $26.74.

TPG has been the subject of a number of other research reports. JPMorgan Chase & Co. downgraded shares of TPG from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $35.00 to $34.00 in a research note on Tuesday, January 24th. Keefe, Bruyette & Woods lifted their target price on shares of TPG from $37.00 to $38.00 and gave the stock a “market perform” rating in a research note on Thursday, February 16th. Bank of America lowered their target price on shares of TPG from $34.00 to $28.00 in a research note on Wednesday, May 17th. Credit Suisse Group lowered their target price on shares of TPG from $33.00 to $32.50 in a research note on Friday. Finally, Citigroup began coverage on shares of TPG in a research note on Thursday, May 18th. They set a “buy” rating and a $32.00 target price for the company. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.32.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Putnam Investments LLC grew its holdings in shares of TPG by 0.5% during the first quarter. Putnam Investments LLC now owns 2,158,713 shares of the company’s stock valued at $63,315,000 after buying an additional 11,241 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in TPG during the first quarter worth about $639,000. Thrivent Financial for Lutherans purchased a new position in TPG during the first quarter worth about $5,090,000. South Street Advisors LLC purchased a new position in TPG during the first quarter worth about $6,846,000. Finally, Geode Capital Management LLC boosted its holdings in TPG by 2.6% during the first quarter. Geode Capital Management LLC now owns 528,066 shares of the company’s stock worth $15,488,000 after purchasing an additional 13,288 shares during the last quarter. 12.94% of the stock is currently owned by institutional investors and hedge funds.

TPG Trading Down 0.5 %

The firm has a market capitalization of $8.22 billion, a PE ratio of -83.13, a PEG ratio of 1.24 and a beta of 1.45. The firm’s fifty day moving average is $28.21 and its two-hundred day moving average is $31.01. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.28 and a quick ratio of 0.33.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 5th. Investors of record on Thursday, May 25th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Wednesday, May 24th. TPG’s dividend payout ratio (DPR) is presently -625.00%.

TPG Company Profile

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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.