The Carlyle Group (NASDAQ:CG) Given New $78.00 Price Target at Oppenheimer

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

Other analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of The Carlyle Group from $55.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Keefe, Bruyette & Woods reduced their price objective on 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. TD Cowen upped 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. Redburn Atlantic began 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. Finally, Barclays lifted their target price on shares of The Carlyle Group from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. 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 data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.27.

The Carlyle Group Price Performance

Shares of NASDAQ CG opened at $49.42 on Wednesday. The firm has a 50-day moving average of $42.02 and a two-hundred day moving average of $42.87. The company has a market capitalization of $17.79 billion, a price-to-earnings ratio of -27.61, a PEG ratio of 1.25 and a beta of 1.73. 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 Carlyle Group has a twelve month low of $27.13 and a twelve month high of $50.92.

The Carlyle Group (NASDAQ:CG) last issued 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 the consensus estimate of $808.73 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. The company’s quarterly revenue was up 131.5% on a year-over-year basis. As a group, analysts expect that The Carlyle Group will post 3.76 earnings per share for the current fiscal year.

The Carlyle Group Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 2.83%. The Carlyle Group’s dividend payout ratio is presently -78.21%.

Insider Buying and Selling at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 250,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $2.23, for a total transaction of $557,500.00. Following the transaction, the insider now owns 2,905,461 shares of the company’s stock, valued at approximately $6,479,178.03. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 2,609,335 shares of company stock valued at $50,141,281 in the last 90 days. 27.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Tobam bought a new position in The Carlyle Group in the 2nd quarter valued at $27,000. Blue Trust Inc. increased its position in The Carlyle Group by 506.3% in the 2nd quarter. Blue Trust Inc. now owns 770 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 643 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of The Carlyle Group by 22.8% during the first quarter. GAMMA Investing LLC now owns 1,156 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 215 shares in the last quarter. 1832 Asset Management L.P. bought a new position in The Carlyle Group in the 1st quarter worth approximately $55,000. Finally, Rothschild Investment LLC bought a new stake in shares of The Carlyle Group during the second quarter worth $50,000. Institutional investors and hedge funds 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.