The Carlyle Group (NASDAQ:CG) Sets New 52-Week High Following Analyst Upgrade

The Carlyle Group Inc. (NASDAQ:CG)’s share price reached 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. The stock had previously closed at $49.42.

Several other analysts have also recently commented on CG. Morgan Stanley lifted their price target on The Carlyle Group from $46.00 to $50.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Barclays upped their price target on shares of The Carlyle Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of The Carlyle Group in a report on Wednesday, October 9th. 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. Finally, Wells Fargo & Company boosted their price target on The Carlyle Group from $42.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.27.

Insider Buying and Selling at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 65,636 shares of The Carlyle Group stock in a transaction on Friday, July 19th. The shares were sold at an average price of $34.12, for a total transaction of $2,239,500.32. Following the sale, the insider now owns 10,562,558 shares of the company’s stock, valued at $360,394,478.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold 2,609,335 shares of company stock valued at $50,141,281 over the last 90 days. 27.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Carlyle Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital International Investors acquired a new stake in shares of The Carlyle Group during the first quarter worth approximately $142,511,000. Boston Partners acquired a new position in The Carlyle Group during the 1st quarter worth $109,122,000. Vanguard Group Inc. raised its stake in shares of The Carlyle Group by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 24,876,188 shares of the financial services provider’s stock valued at $1,012,212,000 after purchasing an additional 1,756,189 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of The Carlyle Group by 17,468.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,715,748 shares of the financial services provider’s stock worth $68,887,000 after purchasing an additional 1,705,982 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in The Carlyle Group in the second quarter valued at about $37,009,000. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

The Carlyle Group Price Performance

The stock has a market cap of $18.34 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 50 day simple moving average of $42.02 and a 200-day simple moving average of $42.87. 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 Carlyle Group (NASDAQ:CG) last released its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.78 EPS 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 during the quarter, compared to analyst estimates of $808.73 million. During the same period in the prior year, the firm earned $0.88 EPS. The business’s revenue for the quarter was up 131.5% compared to the same quarter last year. As a group, research analysts anticipate that The Carlyle Group Inc. will post 3.76 EPS for the current fiscal year.

The Carlyle Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a $0.35 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.40 dividend on an annualized basis and a yield of 2.75%. The Carlyle Group’s payout ratio is currently -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.