TPG Inc. (NASDAQ:TPG – Get Rating) saw some unusual options trading activity on Thursday. Investors purchased 8,004 put options on the stock. This is an increase of 1,201% compared to the typical daily volume of 615 put options.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPG. JPMorgan Chase & Co. purchased a new position in TPG in the 1st quarter valued at about $763,000. Bank of New York Mellon Corp purchased a new position in TPG in the 1st quarter valued at about $474,000. Citigroup Inc. purchased a new position in TPG in the 1st quarter valued at about $33,000. PNC Financial Services Group Inc. purchased a new position in shares of TPG during the 1st quarter worth about $449,000. Finally, BlackRock Inc. purchased a new position in shares of TPG during the 1st quarter worth about $14,585,000. 12.94% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
TPG has been the topic of several recent research reports. Wells Fargo & Company boosted their price objective on shares of TPG from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, February 16th. Credit Suisse Group reaffirmed a “neutral” rating and set a $36.00 price target on shares of TPG in a research note on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of TPG from $43.00 to $44.00 in a research note on Wednesday, January 11th. JPMorgan Chase & Co. cut shares of TPG from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $35.00 to $34.00 in a research note on Tuesday, January 24th. Finally, Bank of America lowered their price target on shares of TPG from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday. Eleven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.07.
TPG Price Performance
TPG (NASDAQ:TPG – Get Rating) last released its quarterly earnings data on Wednesday, February 15th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. The business had revenue of $350.18 million during the quarter, compared to analysts’ expectations of $303.48 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. TPG’s quarterly revenue was up 18.0% on a year-over-year basis. On average, equities research analysts predict that TPG will post 1.86 EPS for the current fiscal year.
TPG Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Shareholders of record on Monday, February 27th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 7.15%. This is a positive change from TPG’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Friday, February 24th. TPG’s dividend payout ratio is -999.95%.
TPG Company Profile
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.
Featured Articles
- Get a free copy of the StockNews.com research report on TPG (TPG)
- Hypercharge Networks: Up Triple Digits, But What’s The Big Deal?
- 3 Reasons Why Apple’s 30% Rally Has Legs
- 3 Reasons to Pick First Citizens Instead of First Republic Bank
- 3 April Earnings Plays for Bullish Swing Traders
- Is Constellation Brands Star About To Rise?
Receive News & Ratings for TPG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TPG and related companies with MarketBeat.com's FREE daily email newsletter.
