The Carlyle Group (NASDAQ:CG) Upgraded by Wolfe Research to “Outperform” Rating

The Carlyle Group (NASDAQ:CG) was upgraded by investment analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage currently has a $60.00 price objective on the financial services provider’s stock. Wolfe Research’s price target suggests a potential upside of 18.27% from the company’s previous close.

CG has been the subject of several other research reports. Evercore ISI raised their price objective on The Carlyle Group from $45.00 to $47.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods boosted their price target on The Carlyle Group from $51.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, November 8th. UBS Group raised their target price on shares of The Carlyle Group from $43.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com lowered shares of The Carlyle Group from a “hold” rating to a “sell” rating in a research report on Sunday, December 8th. Finally, Morgan Stanley boosted their target price on The Carlyle Group from $46.00 to $50.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.38.

The Carlyle Group Price Performance

Shares of CG opened at $50.73 on Friday. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 1.38. The stock has a market cap of $18.15 billion, a P/E ratio of 174.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.69. The stock’s 50-day moving average price is $51.70 and its two-hundred day moving average price is $45.93. The Carlyle Group has a 1 year low of $36.65 and a 1 year high of $55.11.

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

Insider Activity

In other The Carlyle Group news, Director Daniel A. D’aniello sold 495,542 shares of The Carlyle Group stock in a transaction dated Tuesday, November 12th. The stock was 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 $1,674,936,376.06. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Carlyle Group Inc. sold 275,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $2.20, for a total transaction of $605,000.00. Following the completion of the sale, the insider now owns 2,405,461 shares of the company’s stock, valued at approximately $5,292,014.20. The trade was a 10.26 % decrease in their ownership of the stock. 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 three months. Corporate insiders own 27.20% of the company’s stock.

Hedge Funds Weigh In On The Carlyle Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in The Carlyle Group by 10.3% during the 4th quarter. GAMMA Investing LLC now owns 5,463 shares of the financial services provider’s stock valued at $276,000 after acquiring an additional 509 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of The Carlyle Group by 68.1% during the third quarter. JPMorgan Chase & Co. now owns 1,919,439 shares of the financial services provider’s stock valued at $82,651,000 after purchasing an additional 777,304 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in The Carlyle Group by 4.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 12,864 shares of the financial services provider’s stock worth $559,000 after purchasing an additional 495 shares in the last quarter. Franklin Resources Inc. lifted its position in The Carlyle Group by 145.6% during the third quarter. Franklin Resources Inc. now owns 28,210 shares of the financial services provider’s stock valued at $1,215,000 after buying an additional 16,723 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of The Carlyle Group in the 3rd quarter worth about $212,000. 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.