Wells Fargo & Company Cuts TPG (NASDAQ:TPG) Price Target to $78.00

TPG (NASDAQ:TPG) had its target price reduced by research analysts at Wells Fargo & Company from $83.00 to $78.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 25.04% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. TD Cowen decreased their price objective on TPG from $62.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday, November 6th. Evercore ISI boosted their price target on TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a research note on Monday, October 14th. BMO Capital Markets boosted their price target on TPG from $60.00 to $73.00 and gave the company a “market perform” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods upped their target price on TPG from $62.00 to $70.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, Morgan Stanley upped their target price on TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, TPG currently has an average rating of “Hold” and an average price target of $62.58.

TPG Price Performance

NASDAQ:TPG traded up $0.50 during mid-day trading on Tuesday, reaching $62.38. 37,388 shares of the stock were exchanged, compared to its average volume of 916,062. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.39. TPG has a 1-year low of $38.20 and a 1-year high of $72.98. The firm has a market capitalization of $22.77 billion, a PE ratio of -183.47, a PEG ratio of 1.11 and a beta of 1.49. The business has a fifty day moving average price of $66.57 and a 200 day moving average price of $57.76.

TPG (NASDAQ:TPG) last released its quarterly earnings results on Monday, November 4th. The company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. TPG had a return on equity of 23.45% and a net margin of 0.69%. The business had revenue of $855.40 million during the quarter, compared to analyst estimates of $449.98 million. During the same quarter last year, the company posted $0.56 EPS. Research analysts expect that TPG will post 1.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TPG. ORG Wealth Partners LLC acquired a new position in shares of TPG in the fourth quarter valued at $33,000. Signaturefd LLC raised its stake in TPG by 21.3% during the third quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock worth $62,000 after acquiring an additional 188 shares in the last quarter. Covestor Ltd raised its stake in TPG by 1,128.3% during the third quarter. Covestor Ltd now owns 1,867 shares of the company’s stock worth $107,000 after acquiring an additional 1,715 shares in the last quarter. KBC Group NV raised its stake in TPG by 25.1% during the third quarter. KBC Group NV now owns 2,405 shares of the company’s stock worth $138,000 after acquiring an additional 482 shares in the last quarter. Finally, Quarry LP raised its stake in TPG by 136.2% during the third quarter. Quarry LP now owns 3,201 shares of the company’s stock worth $184,000 after acquiring an additional 1,846 shares in the last quarter. 94.03% of the stock is currently owned by institutional investors and hedge funds.

TPG Company Profile

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.