TPG (NASDAQ:TPG) Shares Gap Down to $27.19

Posted by on May 17th, 2023

TPG Inc. (NASDAQ:TPG – Get Rating)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $27.19, but opened at $26.23. TPG shares last traded at $26.22, with a volume of 98,329 shares.

Analyst Ratings Changes

A number of research firms have recently weighed in on TPG. Wells Fargo & Company lifted their price target on shares of TPG from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Thursday, February 16th. Evercore ISI cut their target price on TPG from $34.00 to $33.00 in a research report on Tuesday. JPMorgan Chase & Co. cut TPG from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $35.00 to $34.00 in a research report on Tuesday, January 24th. Keefe, Bruyette & Woods boosted their price target on TPG from $37.00 to $38.00 and gave the company a “market perform” rating in a research note on Thursday, February 16th. Finally, Bank of America reduced their price objective on shares of TPG from $36.00 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, April 5th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $35.69.

TPG Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.33 and a current ratio of 0.33. The firm’s fifty day moving average price is $28.48 and its 200-day moving average price is $31.12.

TPG (NASDAQ:TPG – Get Rating) last issued its earnings results on Wednesday, February 15th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The firm had revenue of $350.18 million during the quarter, compared to analyst estimates of $303.48 million. TPG’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 EPS. On average, sell-side analysts anticipate that TPG Inc. will post 1.75 EPS for the current year.

TPG Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 5th. Investors of record on Thursday, May 25th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, May 24th. This represents a $0.80 dividend on an annualized basis and a yield of 2.93%. TPG’s dividend payout ratio (DPR) is presently -625.00%.

Hedge Funds Weigh In On TPG

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. acquired a new position in shares of TPG in the first quarter worth approximately $33,000. Hexagon Capital Partners LLC acquired a new position in shares of TPG in the 1st quarter worth approximately $39,000. Advanced Research Investment Solutions LLC acquired a new stake in TPG during the 3rd quarter worth about $56,000. BNP Paribas Arbitrage SNC bought a new position in shares of TPG in the 3rd quarter worth about $61,000. Finally, Deutsche Bank AG acquired a new position in shares of TPG in the 4th quarter valued at about $64,000. 12.94% of the stock is currently owned by institutional investors and hedge funds.

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.

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