The Carlyle Group (NASDAQ:CG) Sets New 12-Month High Following Analyst Upgrade

The Carlyle Group Inc. (NASDAQ:CG) shares hit a new 52-week high during trading on Thursday after Oppenheimer raised their price target on the stock from $64.00 to $78.00. Oppenheimer currently has an outperform rating on the stock. The Carlyle Group traded as high as $51.03 and last traded at $50.96, with a volume of 1048794 shares trading hands. The stock had previously closed at $49.42.

A number of other analysts also recently commented on CG. Morgan Stanley boosted their price target on shares of The Carlyle Group from $46.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Redburn Atlantic initiated coverage on The Carlyle Group in a research note on Tuesday, August 27th. They set a “buy” rating and a $55.00 price target for the company. Keefe, Bruyette & Woods cut their price objective on The Carlyle Group from $48.00 to $46.00 and set a “market perform” rating for the company in a report on Tuesday, August 6th. JPMorgan Chase & Co. lowered The Carlyle Group from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $46.00 to $44.00 in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The Carlyle Group from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.27.

Insider Activity at The Carlyle Group

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 135,241 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $35.31, for a total value of $4,775,359.71. Following the completion of the sale, the insider now owns 10,427,317 shares in the company, valued at $368,188,563.27. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 2,609,335 shares of company stock valued at $50,141,281. Corporate insiders own 27.20% of the company’s stock.

Institutional Investors Weigh In On The Carlyle Group

Several institutional investors have recently made changes to their positions in CG. Tobam bought a new position in The Carlyle Group during the second quarter valued at about $27,000. Blue Trust Inc. lifted its holdings in The Carlyle Group by 506.3% in the 2nd quarter. Blue Trust Inc. now owns 770 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 643 shares during the last quarter. Rothschild Investment LLC acquired a new position in The Carlyle Group during the second quarter valued at approximately $50,000. GAMMA Investing LLC raised its position in shares of The Carlyle Group by 22.8% in the first quarter. GAMMA Investing LLC now owns 1,156 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 215 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in shares of The Carlyle Group during the 1st quarter worth $55,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.

The Carlyle Group Stock Up 3.1 %

The stock has a market cap of $18.34 billion, a P/E ratio of -27.61, a P/E/G ratio of 1.25 and a beta of 1.73. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.75. The firm’s fifty day moving average is $42.02 and its 200 day moving average is $42.87.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $808.73 million. The Carlyle Group had a positive return on equity of 24.30% and a negative net margin of 11.67%. The Carlyle Group’s revenue for the quarter was up 131.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 EPS. As a group, equities research analysts forecast that The Carlyle Group Inc. will post 3.76 EPS for the current year.

The Carlyle Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Friday, August 16th. The Carlyle Group’s dividend payout ratio (DPR) is currently -78.21%.

About The Carlyle Group

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.