The Carlyle Group (NASDAQ:CG) Hits New 1-Year High on Analyst Upgrade

The Carlyle Group Inc. (NASDAQ:CG)’s stock price hit a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $49.42.

Several other equities analysts also recently weighed in on CG. TD Cowen increased their target price on The Carlyle Group from $41.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reduced their target price on The Carlyle Group from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Redburn Atlantic assumed coverage on The Carlyle Group in a research report on Tuesday, August 27th. They set a “buy” rating and a $55.00 target price on the stock. Evercore ISI increased their target price on The Carlyle Group from $45.00 to $47.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. downgraded 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 research 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. According to MarketBeat.com, The Carlyle Group currently has an average rating of “Hold” and an average target price of $50.27.

Insider Transactions at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 924,466 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $2.14, for a total value of $1,978,357.24. Following the sale, the insider now owns 3,643,231 shares of the company’s stock, valued at approximately $7,796,514.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last quarter, insiders sold 2,818,699 shares of company stock worth $48,506,781. 27.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On The Carlyle Group

Several hedge funds have recently modified their holdings of CG. Tobam acquired a new position in shares of The Carlyle Group during the 2nd quarter valued at $27,000. Blue Trust Inc. grew its holdings in shares of 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 acquiring an additional 643 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of The Carlyle Group in the 2nd quarter worth $50,000. GAMMA Investing LLC grew its holdings in shares of The Carlyle Group by 22.8% in the 1st quarter. GAMMA Investing LLC now owns 1,156 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 215 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in shares of The Carlyle Group in 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 1.8 %

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 has a market capitalization of $18.81 billion, a price-to-earnings ratio of -29.21, a PEG ratio of 1.25 and a beta of 1.73. The stock has a fifty day moving average of $42.52 and a 200-day moving average of $42.97.

The Carlyle Group (NASDAQ:CG) last issued its quarterly 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 negative net margin of 11.67% and a positive return on equity of 24.30%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $808.73 million. During the same quarter in the prior year, the firm posted $0.88 EPS. The business’s quarterly revenue was up 131.5% compared to the same quarter last year. As a group, sell-side analysts expect that The Carlyle Group Inc. will post 3.76 EPS for the current year.

The Carlyle Group Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Friday, August 16th. This represents a $1.40 dividend on an annualized basis and a yield of 2.68%. The Carlyle Group’s payout ratio is -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.