Oppenheimer Increases The Carlyle Group (NASDAQ:CG) Price Target to $78.00

The Carlyle Group (NASDAQ:CG) had its target price hoisted by Oppenheimer from $64.00 to $78.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

CG has been the subject of a number of other research reports. Keefe, Bruyette & Woods dropped their target price on shares of The Carlyle Group from $48.00 to $46.00 and set a “market perform” rating for the company in a research report on Tuesday, August 6th. Wells Fargo & Company lifted their target price on shares of The Carlyle Group from $42.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Barclays increased their price target on The Carlyle Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft reduced their price objective on 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. Finally, JMP Securities restated a “market outperform” rating and issued a $60.00 target price on shares of The Carlyle Group in a research note on Wednesday, October 9th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.27.

The Carlyle Group Stock Up 1.8 %

CG opened at $52.28 on Wednesday. The Carlyle Group has a fifty-two week low of $27.13 and a fifty-two week high of $52.73. The company has a market capitalization of $18.81 billion, a P/E ratio of -29.21, a P/E/G ratio of 1.25 and a beta of 1.73. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.55 and a quick ratio of 2.55. The firm’s fifty day moving average price is $42.52 and its two-hundred day moving average price is $42.95.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Monday, August 5th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.05). The business had revenue of $1.07 billion during 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 business’s revenue for the quarter was up 131.5% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. On average, analysts anticipate that The Carlyle Group will post 3.76 EPS for the current year.

The Carlyle Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Friday, August 16th. The Carlyle Group’s payout ratio is -78.21%.

Insider Buying and Selling

In related news, major shareholder Carlyle Group Inc. sold 78,180 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $39.94, for a total value of $3,122,509.20. Following the sale, the insider now directly owns 8,441,022 shares in the company, valued at $337,134,418.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 2,818,699 shares of company stock valued at $48,506,781 over the last three months. Company insiders own 27.20% of the company’s stock.

Institutional Investors Weigh In On The Carlyle Group

Several hedge funds have recently bought and sold shares of CG. Vanguard Group Inc. raised its position in shares of The Carlyle Group by 7.6% during the fourth quarter. Vanguard Group Inc. now owns 24,876,188 shares of the financial services provider’s stock worth $1,012,212,000 after purchasing an additional 1,756,189 shares during the period. Jessup Wealth Management Inc acquired a new stake in The Carlyle Group during the 1st quarter worth approximately $7,631,000. National Bank of Canada FI boosted its holdings in shares of The Carlyle Group by 58.8% in the first quarter. National Bank of Canada FI now owns 404,036 shares of the financial services provider’s stock valued at $18,953,000 after buying an additional 149,612 shares during the period. Concurrent Investment Advisors LLC bought a new stake in shares of The Carlyle Group during the first quarter worth $627,000. Finally, Capital Group Private Client Services Inc. bought a new stake in The Carlyle Group in the 1st quarter valued at $3,021,000. 55.88% of the stock is currently owned by institutional investors and hedge funds.

The Carlyle Group Company Profile

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.