The Carlyle Group (NASDAQ:CG) Price Target Raised to $48.00 at Wells Fargo & Company

The Carlyle Group (NASDAQ:CG) had its price target raised by stock analysts at Wells Fargo & Company from $42.00 to $48.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 1.74% from the company’s current price.

A number of other brokerages have also commented on CG. Redburn Atlantic assumed coverage on The Carlyle Group in a report on Tuesday, August 27th. They issued a “buy” rating and a $55.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on The Carlyle Group from $55.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Barclays increased their target price on The Carlyle Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday. Oppenheimer reduced their target price on The Carlyle Group from $69.00 to $64.00 and set an “outperform” rating on the stock in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lowered The Carlyle Group from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $46.00 to $44.00 in a report on Tuesday, August 6th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.53.

The Carlyle Group Stock Performance

Shares of CG stock traded up $0.51 during trading on Wednesday, reaching $47.18. 345,856 shares of the company’s stock were exchanged, compared to its average volume of 2,285,664. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $16.98 billion, a PE ratio of -26.36, a PEG ratio of 1.30 and a beta of 1.73. The Carlyle Group has a twelve month low of $27.13 and a twelve month high of $50.92. The firm’s fifty day moving average price is $41.46 and its 200-day moving average price is $42.78.

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

Insider Buying and Selling

In other The Carlyle Group news, major shareholder Carlyle Group Inc. sold 93,187 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $31.70, for a total value of $2,954,027.90. Following the sale, the insider now directly owns 10,894,562 shares in the company, valued at $345,357,615.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 1,428,398 shares of company stock worth $54,289,312. 27.20% of the stock is owned by company insiders.

Institutional Trading of The Carlyle Group

Several hedge funds have recently made changes to their positions in CG. Tobam bought a new stake in shares of The Carlyle Group in the second quarter valued at $27,000. Blue Trust Inc. grew its position in shares of The Carlyle Group by 506.3% in the second quarter. Blue Trust Inc. now owns 770 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 643 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of The Carlyle Group in the second quarter valued at $50,000. GAMMA Investing LLC grew 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 in the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in shares of The Carlyle Group in the first quarter valued at $55,000. 55.88% of the stock is currently owned by institutional investors.

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.