The Carlyle Group (NASDAQ:CG) Price Target Raised to $85.00 at Oppenheimer

The Carlyle Group (NASDAQ:CG) had its price target boosted by Oppenheimer from $78.00 to $85.00 in a research note released on Monday,Benzinga reports. Oppenheimer currently has an outperform rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their price target on shares of The Carlyle Group from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Evercore ISI raised their price target on shares of The Carlyle Group from $45.00 to $47.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. Wells Fargo & Company raised their price target on shares of The Carlyle Group from $42.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on shares of The Carlyle Group from $51.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, November 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $60.00 target price on shares of The Carlyle Group in a research note on Wednesday, October 9th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $53.33.

The Carlyle Group Stock Performance

CG opened at $51.09 on Monday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.38. The company has a market cap of $18.27 billion, a price-to-earnings ratio of 176.17, a PEG ratio of 1.38 and a beta of 1.70. The Carlyle Group has a 52-week low of $31.21 and a 52-week high of $54.52. The firm’s fifty day simple moving average is $46.68 and its two-hundred day simple moving average is $43.62.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.08. The business had revenue of $895.00 million for the quarter, compared to the consensus estimate of $908.17 million. The Carlyle Group had a net margin of 2.21% and a return on equity of 24.91%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. Equities analysts anticipate that The Carlyle Group will post 3.77 earnings per share for the current fiscal year.

The Carlyle Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, November 18th. The Carlyle Group’s dividend payout ratio (DPR) is presently 482.76%.

Insiders Place Their Bets

In related news, major shareholder Carlyle Group Inc. sold 924,466 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $2.14, for a total value of $1,978,357.24. Following the completion of the sale, the insider now owns 3,643,231 shares in the company, valued at $7,796,514.34. This represents a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel A. D’aniello sold 495,542 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $51.53, for a total transaction of $25,535,279.26. Following the completion of the sale, the director now owns 32,504,102 shares of the company’s stock, valued at approximately $1,674,936,376.06. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,171,556 shares of company stock worth $29,222,475 in the last 90 days. Corporate insiders own 27.20% of the company’s stock.

Institutional Trading of The Carlyle Group

Several institutional investors and hedge funds have recently bought and sold shares of CG. Paloma Partners Management Co acquired a new position in The Carlyle Group in the 3rd quarter valued at $562,000. Verition Fund Management LLC acquired a new position in The Carlyle Group in the 3rd quarter valued at $316,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in The Carlyle Group by 2.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,405,206 shares of the financial services provider’s stock valued at $60,508,000 after buying an additional 36,549 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The Carlyle Group by 3.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 94,460 shares of the financial services provider’s stock valued at $4,067,000 after buying an additional 3,323 shares during the period. Finally, Brooklyn Investment Group acquired a new position in The Carlyle Group in the 3rd quarter valued at $33,000. Hedge funds and other institutional investors own 55.88% of the company’s stock.

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.